Westlake Corporation · NYSE:WLK
Westlake — Westlake Chemical — Q3 2020 Earnings Presentation
14 slides from Westlake's earnings presentation, Nov 3, 2020
Slide 1: Third Quarter 2020 Earnings Presentation
EXHIBIT 99.2 Third Quarter 2020 Earnings Presentation November 3, 2020
Slide 2: Commitment to Social Responsibility and Advancing Sustainability
EXHIBIT 99.2 Commitment to Social Responsibility and Advancing Sustainability Westlake’s commitment to social responsibility and advancing sustainability is formed by the company’s longstanding core values: . Health, Safety & Environmental - The vigilant stewardship of the environment and sustainabi
Slide 3: Westlake Chemical Third Quarter 2020 Highlights
EXHIBIT 99.2 Westlake Chemical Third Quarter 2020 Highlights Business Highlights . In August 2020, Hurricane Laura, a category 4 hurricane, struck Lake Charles, Louisiana causing wide spread power and utility infrastructure damage. As a result, many of Westlake’s olefins and vinyls facilities in the
Slide 4: Third Quarter 2020 Financial Highlights
EXHIBIT 99.2 Westlake Chemical Corporation Third Quarter 2020 Financial Highlights 3Q 2020 vs. 2Q 3Q 2020 vs. 3Q YTD YTD YTD 2020 vs. ($ in millions) 3Q 2020 2Q 2020 2020 3Q 2019 2019 2020 2019 YTD 2019 Sales $1,898 $1,709 11% $2,066 (8%) $5,539 $6,235 (11%) Operating Income $79 $36 119% $226 (65%)
Slide 5: Vinyls Segment Performance
EXHIBIT 99.2 Vinyls Segment Performance 3Q 2020 vs. 3Q 2020 vs. YTD YTD YTD 2020 vs. ($ in millions) 3Q 2020 2Q 2020 2Q 2020 3Q 2019 3Q 2019 2020 2019 YTD 2019 Sales $1,529 $1,348 13% $1,618 (6%) $4,382 $4,851 (10%) Operating Income $42 $20 110% $153 (73%) $135 $383 (65%) EBITDA $209 $182 15% $306 (
Slide 6: Olefins Segment Performance
EXHIBIT 99.2 Olefins Segment Performance 3Q 2020 vs. 3Q 2020 vs. YTD YTD YTD 2020 vs. ($ in millions) 3Q 2020 2Q 2020 2Q 2020 3Q 2019 3Q 2019 2020 2019 YTD 2019 Sales $369 $361 2% $448 (18%) $1,157 $1,384 (16%) Operating Income $51 $25 104% $92 (45%) $138 $211 (35%) EBITDA $86 $60 43% $128 (33%) $24
Slide 7: Financial Reconciliations
EXHIBIT 99.2 Financial Reconciliations
Slide 8: Consolidated Statements of Operations
EXHIBIT 99.2 Consolidated Statements of Operations Three months Three months ended September 30, Nine months ended September 30, ended June 30, 2020 2020 2019 2020 2019 (In millions of dollars, except per share data) Net sales $ 1,709 $ 1,898 $ 2,066 $ 5,539 $ 6,235 Cost of sales 1,540 1,650 1,695 4
Slide 9: Reconciliation of EBITDA to Net Income, Income from Operations and Net Cash Provided by Operating Activities
EXHIBIT 99.2 Reconciliation of EBITDA to Net Income, Income from Operations and Net Cash Provided by Operating Activities Three Months Three Months Ended September 30, Nine Months Ended September 30, Ended June 30, 2020 2020 2019 2020 2019 (In millions of dollars) Net cash provided by operating acti
Slide 10: Reconciliation of Vinyls, Olefins and Corporate EBITDA to Operating Income (Loss)
EXHIBIT 99.2 Reconciliation of Vinyls, Olefins and Corporate EBITDA to Applicable Operating Income (Loss) Three months ended June 30, Three months ended September 30, Nine months ended September 30, 2020 2020 2019 2020 2019 (In millions of dollars) Vinyls EBITDA $ 182 $ 209 $ 306 $ 623 $ 814 Less: D
Slide 11: Quarterly Industry Pricing
EXHIBIT 99.2 Quarterly Industry Pricing
Slide 12: Average Quarterly Industry Prices
EXHIBIT 99.2 Average Quarterly Industry Prices (1) Quarter Ended September 30, December 31, March 31, June 30, September 30, 2019 2019 2020 2020 2020 Average domestic prices Ethane (cents/lb) (2) 5.8 6.3 4.7 6.4 7.4 Propane (cents/lb) (3) 10.3 11.8 8.8 9.6 11.9 Ethylene (cents/lb) (4) 20.7 22.8 15.8
Slide 13: Safe Harbor Language
EXHIBIT 99.2 Safe Harbor Language This presentation contains certain forward-looking statements including statements regarding PVC and polyethylene pricing and demand. Actual results may differ materially depending on factors such as general economic and business conditions; the cyclical nature of t
Slide 14: Westlake Chemical
Westlake Chemical EXHIBIT 99.2