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![WESTLAKE CORP [WLK] reports annual net loss of $522.0 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FWLK.png&w=1200&q=75)
WESTLAKE CORP [WLK] has reported a net loss of $522.0 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $12.5 billion
Based in HOUSTON, Texas, WESTLAKE CORP operates in the MANUFACTURING sector.
In the 12 months ended December 31, 2023, Westlake Corporation reported net sales of $12.548 billion, a decrease from $15.794 billion in the same period in 2022 and an increase from $11.778 billion in 2021.
Cost of sales for the current period was $10.329 billion, compared to $11.721 billion in 2022 and $8.283 billion in 2021.
Gross profit for the period was $2.219 billion, down from $4.073 billion in 2022 and higher than $3.495 billion in 2021.
Income from operations stood at $729 million, a decline from $3.050 billion in 2022 and an improvement from $2.800 billion in 2021.
Net income attributable to Westlake Corporation was $479 million for the current period, a decrease from $2.247 billion in 2022 and $2.015 billion in 2021.
Earnings per common share attributable to Westlake Corporation were $3.73 for basic and $3.70 for diluted in the current period. This is lower than the figures of $17.46 and $17.34 for basic and diluted, respectively, in 2022. In 2021, the values were $15.66 for basic and $15.58 for diluted.
The weighted average common shares outstanding for the period were 127.806 million for basic and 128.598 million for diluted shares, slightly lower than the previous periods.
Overall, Westlake Corporation's financial performance in the current reporting period showed a decrease in net sales and net income compared to the previous years due to various factors affecting its operational efficiency and market conditions.
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