Westlake's Revenue Sees 7.77% Increase in Q2 2024 Financial Results
Westlake Corporation [WLK] reported a substantial profit of $313 million in the second quarter of 2024, ending June 30. This marked a significant increase from the previous quarter's profit of $174 million.
The company, headquartered in Houston, Texas, reported to SEC in an 8-K filing $2.40 earnings per share in the quarter, compared to $1.34 in the previous quarter.
Westlake Corporation, a leading player in the Chemicals industry, recorded a total revenue of $3.2 billion in the reported period, showing a 7.77% increase compared to the revenue of $2.97 billion in the preceding quarter.
In comparison to the same quarter of the previous year, Westlake Corporation's revenue for the current period decreased by 1.26%, with reported revenue of $3.2 billion compared to $3.25 billion in the previous year's corresponding quarter.
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Furthermore, there was a notable 5.72% increase in profit for Westlake Corporation in the current quarter when compared to the profit in the same quarter of the previous year.
As of August 7, 2024 end of day trading.
Dollars in millions | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 |
|---|
Income Statement |
| Revenue | $2,975.0 | $12,548.0 | $3,115.0 | $3,251.0 |
| Net Income | $185.0 | $522.0 | $295.0 | $307.0 |
| Net Cash | -$195.0 | $1,073.0 | $826.0 | $446.0 |
| Gross Margin | $466.0 | $2,219.0 | $586.0 | $642.0 |
| Profit as % of Revenues | 15.66 | 17.68 | 18.81 | 19.75 |
| Profit as % of Assets | 0.88 | 2.51 | 1.41 | 1.48 |
| Profit as % of Stockholder Equity | 1.70 | 4.85 | 2.61 | 2.77 |
| Return on Equity | 0.44 | 4.85 | 2.61 | 2.77 |
| Return on Assets | 0.23 | 2.48 | 1.38 | 1.46 |
| Turnover Ratio | 0.14 | 0.60 | 0.15 | 0.16 |
| EBITA | | $0.0 | $0.0 | $0.0 |
Balance Sheet |
| Total Assets | $20,960.0 | $21,035.0 | $21,396.0 | $20,981.0 |
| Total Liabilities | $10,107.0 | $10,271.0 | $10,111.0 | $9,904.0 |
Cash Flow Statement |
| Operating Cash Flow | $169.0 | $2,336.0 | $1,763.0 | $1,067.0 |
| Investing Cash Flow | -$272.0 | -$1,037.0 | -$750.0 | -$499.0 |
| Financing Cash Flow | -$74.0 | -$245.0 | -$175.0 | -$131.0 |
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