Westlake Corporation · NYSE:WLK
Westlake — Westlake Chemical — Q1 2019 Earnings Presentation
9 slides from Westlake's earnings presentation, May 2, 2019
Slide 1: First Quarter 2019 Earnings Presentation
Westlake Chemical Corporation First Quarter 2019 Earnings Presentation
Slide 2: Business Highlights and Outlook
Westlake Chemical Corporation Business Highlights . Finalized purchase of NAKAN™, a global PVC compounding business – expanding Westlake’s international footprint and avenues for growth . Opportunistically debottlenecking several VCM and PVC plants in the U.S. – with an expected fourth quarter 2019
Slide 3: First Quarter 2019 Financial Highlights
Westlake Chemical Corporation First Quarter 2019 Financial Highlights 1Q 2019 vs. 1Q 2019 vs. ($ in millions) 1Q 2019 1Q 2018 1Q 2018 4Q 2018 4Q 2018 Sales $2,025 $2,150 (6%) $1,995 2% Operating Income $134 $401 (67%) $207 (35%) Vinyls EBITDA $239 $396 (40%) $257 (7%) Olefins EBITDA $74 $199 (63%) $
Slide 4: Vinyls Segment Performance
Vinyls Segment Performance 1Q 2019 vs. 1Q 2019 vs. ($ in millions) 1Q 2019 1Q 2018 1Q 2018 4Q 2018 4Q 2018 Sales $1,566 $1,647 (5%) $1,502 4% Operating Income $101 $266 (62%) $125 (19%) EBITDA $239 $396 (40%) $257 (7%) First Quarter 2019 vs. First Quarter 2018 First Quarter 2019 vs. Fourth Quarter 2
Slide 5: Olefins Segment Performance
Olefins Segment Performance 1Q 2019 vs. 1Q 2019 vs. ($ in millions) 1Q 2019 1Q 2018 1Q 2018 4Q 2018 4Q 2018 Sales $459 $503 (9%) $493 (7%) Operating Income $37 $163 (77%) $90 (59%) EBITDA $74 $199 (63%) $126 (41%) First Quarter 2019 vs. First Quarter 2018 First Quarter 2019 vs. Fourth Quarter 2018 -
Slide 6: EXHIBIT 99.2)
EXHIBIT 99.2) Westlake Chemical
Slide 7: Reconciliation of EBITDA to Net Income, Income from Operations and Net Cash
Reconciliation of EBITDA to Net Income, Income from Operations and Net Cash Provided by Operating Activities Three Months Ended Three months ended March 31, December 31, (in $ millions) 2019 2018 2018 Net cash provided by operating $147 $225 $254 Changes in operating assets and liabilities and other
Slide 8: Reconciliation of Vinyls, Olefins and Corporate EBITDA to Operating Income
Reconciliation of Vinyls, Olefins and Corporate EBITDA to Applicable Operating Income Loss Three Months Ended Three months ended March 31, December 31, (in $ millions) 2019 2018 2018 Vinyls EBITDA $239 $396 $257 Less: Depreciation and Amortization 134 118 129 Other Income (Expenses) 4 12 3 Vinyls Op
Slide 9: Safe Harbor Language
Safe Harbor Language This presentation contains certain forward-looking statements including statements regarding the timing and results of capital projects and the caustic soda market. Actual results may differ materially depending on factors such as general economic and business conditions; the cy