Slide 1: Q1 2022 Earnings Presentation
Q1 2022 Earnings Presentation EXHIBIT 99.2
Slide 2: Westlake Delivers Record Quarter
2 Westlake Delivers Record Quarter Record results in 1Q 2022 Record quarterly net sales of $4.1 billion, an increase of 72% vs. first quarter 2021 net sales Record quarterly net income of $756 million, an increase of 212% vs. first quarter 2021 net income Record quarterly EBITDA of $1.3 bill
Slide 3: Westlake is a Compelling Investment Opportunity
3 Market leading position in Housing & Infrastructure Products (HIP) driving growth from high-valued, strong brand name product offerings with attractive secular growth Well positioned to execute on a portfolio of opportunities across both segments by leveraging a proven system of operational excell
Slide 4: A Record Quarter for Westlake
4 Westlake Corporation Performance First Quarter 2022 (1) Reconciliations of EBITDA, Housing and Infrastructure Products EBITDA, Performance and Essential Materials EBITDA and Corporate EBITDA to the applicable GAAP measures can be found on pages 13 and 14 + Strong market conditions attributable to
Slide 5: Advancing Sustainability
5 Advancing Sustainability To further reduce our carbon footprint, we are allocating capital to both proven and emerging technologies, including additional product and operational innovations • We are expanding our portfolio of sustainable products and prioritizing implementation of additional envir
Slide 6: Segment Update
6 Segment Update
Slide 7: Housing and Infrastructure Products (HIP) Segment Performance
7 Housing and Infrastructure Products (“HIP”) Segment Performance (1) Reconciliations of HIP EBITDA to the applicable GAAP measure can be found on page 14 + Strong repair and remodeling activity and new residential construction in North America + Residential housing construction has driven demand fo
Slide 8: Housing and Infrastructure Products Update
8 Home buyer demand fundamentals are being driven by home upsizing, historic under building, favorable demographics and more people working from home offsetting headwinds of rising mortgage interest rates U.S. census data reports new housing starts continuing at elevated levels, reflecting strong de
Slide 9: Performance and Essential Materials (PEM) Segment Performance
9 Performance and Essential Materials (“PEM”) Segment Performance + Solid demand for PVC anchored by robust economic activity in end-use markets including construction and home remodeling + Polyethylene benefitted from the continuing strong demand in industrial and consumer packaging markets + Caust
Slide 10: Performance and Essential Materials Update
10 Population growth and urbanization in global economies drive performance product demand in housing, medical and automotive applications Value-added specialty polyethylene portfolio combined with our globally advantaged cost position in North America drives higher margin and more resilient profita
Slide 11: Financial Reconciliations
11 Financial Reconciliations
Slide 12: Consolidated Statements of Operations
12 Consolidated Statements of Operations Three months ended December 31, Three months ended March 31, 2021 2022 2021 (In millions of dollars, except per share data) Housing and Infrastructure Products Sales $ 1,047 $ 1,224 $ 615 Performance and Essential Materials Sales 2,460 2,832 1,742 Net sales 3
Slide 13: Reconciliation of EBITDA to Net Income, Income from Operations and Operating Cash Flow
13 Reconciliation of EBITDA to Net Income, Income from Operations and Net Cash Provided by Operating Activities Three months ended December 31, Three months ended March 31, 2021 2022 2021 (In millions of dollars) Net cash provided by operating activities $ 757 $ 700 $ 265 Changes in operating assets
Slide 14: Reconciliation of HIP, PEM and Corporate EBITDA to Operating Income
14 Reconciliation of HIP, PEM and Corporate EBITDA to Applicable Operating Income (Loss) Three months ended December 31, Three months ended March 31, 2021 2022 2021 (In millions of dollars) Housing and Infrastructure Products EBITDA $ 162 $ 258 $ 105 Less: Depreciation and Amortization 70 71 32 Othe
Slide 15: Quarterly Industry Data
15 Quarterly Industry Data
Slide 16: Average Quarterly Industry Prices and Housing Starts Data
16 Average Quarterly Industry Prices and Housing Starts Data March 31, 2021 June 30, 2021 September 30, 2021 December 31, 2021 March 31, 2022 Average domestic prices (1) Natural gas ($/MMBtu) (2) 2.8 2.9 4.0 5.8 4.8 Ethane (cents/lb) (3) 8.1 8.7 11.7 13.2 13.5 Propane (cents/lb) (4) 21.2 20.7 27.6 2
Slide 17: Safe Harbor Language
17 Safe Harbor Language This presentation contains certain forward-looking statements including statements regarding creating value for our shareholders, pricing and demand for our products, continued recovery in key end markets, industry outlook for both of our segments, our cost control and effici
Slide 18: Westlake
Westlake