Westlake Corporation's (WLK) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

August 2, 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. Welcome to the Westlake Corporation Second 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 today, August 2, 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, Dennis. Good morning, everyone, and welcome to the Westlake Corporation conference call to discuss our results for the second quarter of 2022. I’m joined today by Albert Chao, our President and CEO; Steve Bender, our Executive Vice President and Chief Financial Officer; Roger Kearns, our Chief Operating Officer, and other members of our management team.

During the call, we will refer to our two reporting segments, the Housing and Infrastructure Products segment, which we will refer to as HIP, and the performance in Essential Materials segment, which we will 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. After which Albert will 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.

This morning, Westlake issued a press release with details of our second quarter results. This document is available in the press release section of our website at westlake.com. We have also included an earnings presentation, which can be found in the Investor Relations section of our website.

A replay of today’s call will be available beginning today, two hours following the conclusion of this call. This replay may be accessed via Westlake’s website. Please note that information recorded on this call speaks only as of today, August 2, 2022, and therefore, you are advised that time-sensitive information may no longer be accurate as of the time of any replay. I would finally advise you that this conference call is being broadcast live through an Internet webcast system that can be accessed on our webpage at westlake.com.