$WLK
WESTLAKE CORP

2023 Q2 Form 10-Q Financial Statement

#000126282323000020 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $3.251B $3.356B $4.056B
YoY Change -27.48% -17.26% 72.08%
Cost Of Revenue $2.609B $2.564B $2.771B
YoY Change -14.12% -7.47% 49.95%
Gross Profit $642.0M $792.0M $1.285B
YoY Change -55.57% -38.37% 152.46%
Gross Profit Margin 19.75% 23.6% 31.68%
Selling, General & Admin $213.0M $222.0M $200.0M
YoY Change -3.18% 11.0% 47.06%
% of Gross Profit 33.18% 28.03% 15.56%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $271.0M $267.0M $257.0M
YoY Change 2.65% 3.89% 31.79%
% of Gross Profit 42.21% 33.71% 20.0%
Operating Expenses $243.0M $222.0M $200.0M
YoY Change 10.45% 11.0% 47.06%
Operating Profit $399.0M $536.0M $1.032B
YoY Change -66.04% -48.06% 198.27%
Interest Expense -$42.00M $42.00M $46.00M
YoY Change -195.45% -8.7% 39.39%
% of Operating Profit -10.53% 7.84% 4.46%
Other Income/Expense, Net $23.00M $22.00M $11.00M
YoY Change 35.29% 100.0% -8.33%
Pretax Income $377.0M $516.0M $997.0M
YoY Change -67.16% -48.24% 206.77%
Income Tax $70.00M $109.0M $233.0M
% Of Pretax Income 18.57% 21.12% 23.37%
Net Earnings $296.0M $394.0M $756.0M
YoY Change -65.5% -47.88% 212.4%
Net Earnings / Revenue 9.1% 11.74% 18.64%
Basic Earnings Per Share $2.32 $3.07 $5.87
Diluted Earnings Per Share $2.30 $3.05 $5.83
COMMON SHARES
Basic Shares Outstanding 127.6M shares 127.4M shares 128.1M shares
Diluted Shares Outstanding 128.5M shares 128.5M shares 128.9M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.677B $2.414B $1.055B
YoY Change 103.26% 128.82% -24.26%
Cash & Equivalents $2.677B $2.414B $1.055B
Short-Term Investments
Other Short-Term Assets $93.00M $55.00M $114.0M
YoY Change -33.57% -51.75% 93.22%
Inventory $1.671B $1.842B $1.884B
Prepaid Expenses
Receivables $1.642B $1.728B $2.269B
Other Receivables $213.0M $72.00M $76.00M
Total Short-Term Assets $6.296B $6.146B $5.405B
YoY Change 4.71% 13.71% 44.75%
LONG-TERM ASSETS
Property, Plant & Equipment $9.194B $8.518B $8.276B
YoY Change 10.73% 2.92% 19.58%
Goodwill $2.167B $2.167B $2.140B
YoY Change 1.31% 1.26% 97.78%
Intangibles
YoY Change
Long-Term Investments $1.120B $1.131B $1.105B
YoY Change -2.01% 2.35% 7.39%
Other Assets $697.0M $662.0M $492.0M
YoY Change 32.26% 34.55% 106.72%
Total Long-Term Assets $14.69B $14.66B $14.34B
YoY Change 2.27% 2.26% 38.97%
TOTAL ASSETS
Total Short-Term Assets $6.296B $6.146B $5.405B
Total Long-Term Assets $14.69B $14.66B $14.34B
Total Assets $20.98B $20.81B $19.74B
YoY Change 2.99% 5.39% 40.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $799.0M $828.0M $1.018B
YoY Change -30.16% -18.66% 68.82%
Accrued Expenses $1.329B $1.331B $1.268B
YoY Change -2.21% 4.97% 75.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.000M $2.000M $264.0M
YoY Change -70.0% -99.24% 1157.14%
Total Short-Term Liabilities $2.131B $2.159B $2.550B
YoY Change -15.2% -15.33% 92.31%
LONG-TERM LIABILITIES
Long-Term Debt $4.894B $4.892B $4.902B
YoY Change 0.74% -0.2% 38.2%
Other Long-Term Liabilities $1.187B $323.0M $265.0M
YoY Change 334.8% 21.89% 28.64%
Total Long-Term Liabilities $6.081B $5.215B $5.167B
YoY Change 18.51% 0.93% 37.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.131B $2.159B $2.550B
Total Long-Term Liabilities $6.081B $5.215B $5.167B
Total Liabilities $10.44B $9.978B $10.49B
YoY Change 0.38% -4.87% 45.18%
SHAREHOLDERS EQUITY
Retained Earnings $10.48B $10.23B $8.525B
YoY Change 12.19% 20.02% 38.73%
Common Stock $602.0M $591.0M $573.0M
YoY Change 3.26% 3.14% 1.42%
Preferred Stock
YoY Change
Treasury Stock (at cost) $463.0M $465.0M $372.0M
YoY Change 13.48% 25.0% -1.85%
Treasury Stock Shares
Shareholders Equity $10.54B $10.29B $8.681B
YoY Change
Total Liabilities & Shareholders Equity $20.98B $20.81B $19.74B
YoY Change 2.99% 5.39% 40.51%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $296.0M $394.0M $756.0M
YoY Change -65.5% -47.88% 212.4%
Depreciation, Depletion And Amortization $271.0M $267.0M $257.0M
YoY Change 2.65% 3.89% 31.79%
Cash From Operating Activities $555.0M $512.0M $700.0M
YoY Change -39.21% -26.86% 164.15%
INVESTING ACTIVITIES
Capital Expenditures $240.0M $267.0M $263.0M
YoY Change -204.35% 1.52% 86.52%
Acquisitions $0.00 $1.154B
YoY Change -100.0%
Other Investing Activities $4.000M -$5.000M -$6.000M
YoY Change -106.06% -16.67% -53.85%
Cash From Investing Activities -$236.0M -$263.0M -$1.507B
YoY Change -20.27% -82.55% 1016.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -56.00M -$75.00M -$47.00M
YoY Change -83.03% 59.57% 38.24%
NET CHANGE
Cash From Operating Activities 555.0M $512.0M $700.0M
Cash From Investing Activities -236.0M -$263.0M -$1.507B
Cash From Financing Activities -56.00M -$75.00M -$47.00M
Net Change In Cash 263.0M $183.0M -$857.0M
YoY Change -8.36% -121.35% -1021.51%
FREE CASH FLOW
Cash From Operating Activities $555.0M $512.0M $700.0M
Capital Expenditures $240.0M $267.0M $263.0M
Free Cash Flow $315.0M $245.0M $437.0M
YoY Change -72.44% -43.94% 252.42%

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