Westlake Corporation (WLK) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 3, 2022 11:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning, ladies and gentlemen. Thank you for standing by, and welcome to the Westlake Corporation First Quarter 2022 Earnings Conference Call. During the presentation, all participants will be in a listen-only mode. After the speakers’ remarks, you will be invited to participate in a question-and-answer session. As a reminder, ladies and gentlemen, this conference is being recorded, May 3, 2022.

I would now like to turn the call over to today’s host, Jeff Holy, Westlake’s Vice President and Treasurer. Sir, you may begin.

Jeff Holy

Thank you. Good morning, everyone, and welcome to the Westlake Corporation conference call to discuss our results for the first quarter of 2022.

We additionally would like to thank everyone who is able to attend our recent Investor Day, which occurred on April 7th. The webcast and presentation from the Investor Day are available in the Investor Relations section of our website for those of you who are unable to attend.

I’m joined today by Albert Chao, our President and CEO; Steve Bender, our Executive Vice President and Chief Financial Officer; Roger Kearns, our Executive Vice President and Chief Operating Officer, and other members of our management team. We have included an earnings presentation, which we’ll reference during our call today that can be found in the Investor Relations section on our website.

During the call, we will refer to ourselves, our recently established reporting segments, the housing and infrastructure products segment, which we refer to as HIP, and the performance in Essential Materials segment, which we refer to as PEM. Today's conference call will begin with Albert, who will open with a few comments regarding Westlake's performance. Steve, will then discuss our financial and operating results. Albert will then add a few concluding comments, and we'll open the call up to questions.

Today, management is going to discuss certain topics that will contain forward-looking information that is based on management's beliefs, as well as assumptions made by and information currently available to management. These forward-looking statements suggest predictions or expectations and thus are subject to risks or uncertainties. These risks and uncertainties are discussed in Westlake's Form 10-K for the year ended December 31, 2021, and other SEC filings. We encourage you to learn more about these factors that could lead our actual results to differ by reviewing these SEC filings, which are also available on our Investor Relations website.