Westlake Reports Strong 1Q Results; Long-Term Outlook and $45 FVE Unchanged
Westlake Chemical reported improved first-quarter results, with adjusted EBITDA increasing 27% versus the fourth quarter of 2016 to reach $386 million. This was driven by improved ethylene margins and strong volume growth. Our long-term outlook for Westlake is intact. We expect ethane feedstock costs will rise over the next few years for Westlake. Strong ethane demand growth from new crackers in the Gulf Coast will require supply sources from higher-cost ethane production. Westlake will be unabl...Westlake Chemical operates as a manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The company operates in two operating segments: Olefins, which manufactures and markets polyethylene, styrene monomer and various ethylene co-products; and Vinyls, which manufactures and markets polyvinyl chloride (PVC), vinyl chloride monomer, ethylene dichloride, chlor-alkali (chlorine and caustic soda), chlorinated derivative products and ethylene, as well as manufactures and sells building products fabricated from PVC, including residential siding, trim and mouldings, pipe and fittings for various water, sewer and industrial applications, and profiles for windows and doors.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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