Westlake Chemical Partners Lp · NYSE:WLKP
Westlake Chemical Partners Lp — Q4 2024 Earnings Presentation
16 slides from Westlake Chemical Partners Lp's earnings presentation, Feb 24, 2025
Slide 1: Earnings Presentation 4Q and Full Year 2024
Earnings Presentation 4Q and Full Year 2024 1
Slide 2: Fourth Quarter and Full Year 2024 Highlights
Fourth Quarter and Full Year 2024 Highlights Fifth consecutive quarter of YoY sales volume growth with momentum into 2025 4Q 2024 Financial Results FY 2024 Financial Results $2.8B $416M $12.1B $2.3B Net Sales EBITDA(1) Net Sales EBITDA(1,2) 1% increase YoY 7% increase YoY (2) 3% decrease YoY 12% dec
Slide 3: Westlake Corporation 4Q and FY 2024
Westlake Corporation 4Q and FY 2024 (1) Solid YoY sales volume growth of ($ in millions) 4Q'24 3Q'24 QoQ% 4Q'23 YoY% FY'24 FY'23 YoY% 3% driven by stronger seasonal Sales $2,843 $3,117 (9%) $2,826 1% $12,142 $12,548 (3%) demand in our HIP segment Operating Income(1) $66 $255 (74%) $73 (10%) $950 $1,
Slide 4: Housing and Infrastructure Products (HIP) Segment Performance
Housing and Infrastructure Products (“HIP”) Segment Performance Record annual Operating Income of $807 million, EBITDA of $1.1 billion and EBITDA margin of 24%(2) ($ in millions) 4Q'24 3Q'24 QoQ% 4Q'23 YoY% FY'24 FY'23 YoY% Housing Products Sales $818 $937 (13%) $795 3% $3,644 $3,494 4% Infrastructu
Slide 5: Historical HIP Performance
Historical HIP Performance HIP EBITDA ($M) AND EBITDA MARGIN (%) • Strong end market demand 24.3% • Partnerships with nationwide $1,050 homebuilders who are gaining $955 22.5% market share $949 • Coast-to-coast footprint 20.0% • Product mix and product 18.5% $534 innovation $388 17.2% • Cost control
Slide 6: Housing and Infrastructure Products Update
Housing and Infrastructure Products Update 1 Longer-term housing fundamentals remain strong due to decade-plus of under-building, increasingly favorable demographics and popularity of remote work 2 Expecting another year of solid sales growth for Westlake Royal Building Products in 2025, consistent
Slide 7: Performance and Essential Materials (PEM) Segment Performance
Performance and Essential Materials (“PEM”) Segment Performance(1) Sales volume grew 1% YoY driven ($ in millions) 4Q'24 3Q'24 QoQ% 4Q'23 YoY% FY'24 FY'23 YoY% by strong demand for polyethylene into export markets Performance Materials Sales $1,121 $1,164 (4%) $1,107 1% $4,626 $4,656 (1%) Essential
Slide 8: Performance and Essential Materials Update
Performance and Essential Materials Update 1 Early 2025 price increase initiatives are gaining traction in a number of products, supported by stable-to-improving global demand and feedstock & energy cost inflation 2 Continued energy and feedstock advantage in North America (~85% of our production ca
Slide 9: Financial Reconciliations
Financial Reconciliations 9 9
Slide 10: Consolidated Statements of Operations
Consolidated Statements of Operations Three months ended Three months ended December 31, Twelve months ended December 31, September 30, 2024 2023 2024 2024 2023 (In millions of dollars, except per share data) Housing and Infrastructure Products Sales $ 981 $ 946 $ 1,098 $ 4,317 $ 4,212 Performance a
Slide 11: Reconciliation of Net Income and Earnings Per Diluted Share excl. Identified Items
Reconciliation of Net Income Attributable to Westlake Corporation and Earnings Per Diluted Share to Net Income and Diluted Earnings Per Share excl. Identified Items Three months ended Three months ended December 31, Twelve months ended December 31, September 30, 2024 2023 2024 2024 2023 (In millions
Slide 12: Reconciliation of EBITDA excl. Identified Items to Net Income and Operating Cash Flow
Reconciliation of EBITDA excl. Identified Items to EBITDA, Net Income, Income from Operations and Net Cash Provided by Operating Activities Three months ended Three months ended December 31, Twelve months ended December 31, September 30, 2024 2023 2024 2024 2023 (In millions of dollars) Net cash pro
Slide 13: Reconciliation of HIP, PEM and Corporate EBITDA to Operating Income
Reconciliation of HIP EBITDA, PEM EBITDA excl. Identified Items and Corporate EBITDA to Operating Income (Loss) Three months ended Three months ended December 31, September 30, Twelve months ended December 31, 2024 2023 2024 2024 2023 (In millions of dollars) Housing and Infrastructure Products EBIT
Slide 14: Reconciliation of Free Cash Flow to Net Cash Provided by Operating Activities
Reconciliation of Free Cash Flow to Net Cash Provided by Operating Activities Three months ended Three months ended December 31, Twelve months ended December 31, September 30, 2024 2023 2024 2024 2023 (In millions of dollars) Net cash provided by operating activities $ 434 $ 573 $ 474 $ 1,314 $ 2,33
Slide 15: Safe Harbor Language
Safe Harbor Language This presentation contains certain forward-looking statements including statements regarding our cost savings objectives and our ability to maintain synergies, pricing and demand for our products and across the industrial and manufacturing sectors, global macroeconomic condition
Slide 16: Westlake
Vestlake
Westlake Chemical Partners — Q4 2024 Earnings Presentation on 6ix