Westlake Corporation (WLK) · wyniki II kw. 2026 i wycena

Prognozowane przepływy nie pokrywają długu, więc cena jest daleko powyżej wartości godziwej z modelu.

1. Prognoza

   Westlake expects 2026 revenue and EBITDA margin in its Housing and Infrastructure Products segments to be towards the lower end of its previously communicated ranges of $4.4 billion…

2. Prognoza

   Caustic production increased 75% in the second quarter, and the company expects the second half of the year to average higher than the first half.

   Cytat ze źródła

   “And caustic is up 75% to the second quarter, and we expect the second half to average higher than the first half.”

3. Liczba

   Pipe and fittings sales volume grew roughly 20% year-over-year due to continued North American infrastructure investments.

   Cytat ze źródła

   “In fact, pipe and fittings sales volume grew roughly 20% year-over-year as a result of continued North American infrastructure investments...”

4. Słabnie

   Management expects meaningful improvement in some impacted chains, noting that the PVC core vinyls chain was less impacted by the conflict than the polyolefins chain.

   Cytat ze źródła

   “And so we do expect to see some meaningful improvement in those chains that have been more directly impacted. And so it's unclear exactly what kind of price direction we may see as the conflict takes whatever path it chooses to take, but I would say that the PVC core vinyls chain was lesser impacted by this conflict than the polyolefins chain has been.”

Script and answers carried a similar tone, so the script's message held up under questioning.

Zdania, które wpłynęły na ton

“PEM second quarter EBITDA of $416 million increased by $364 million versus the second quarter of 2025, driven by the benefits of our 3-pillar profitability improvement plan and a 14%...”

“End market conditions remain favorable, driven by robust demand for municipal pipe as a result of the Infrastructure Act as well as strong growth in overall U.S.”

“From the company standpoint, I think maybe what might be hiding some of those cost reductions is we did have 10% volume growth in the quarter and particularly strong volume...”