Westlake Chemical Partners(US:WLKP)2021-05-04 16:28Financial Performance - Westlake's sales for the first quarter of 2021 were $2357 million, a 20% increase compared to $1965 million in the fourth quarter of 2020 and a 22% increase compared to $1932 million in the first quarter of 2020[11] - The company's operating income for 1Q21 was $346 million, a 94% increase compared to $178 million in 4Q20 and a 154% increase compared to $136 million in 1Q20[11] - Westlake's EBITDA for 1Q21 was $553 million, a 43% increase compared to $386 million in 4Q20 and a 64% increase compared to $337 million in 1Q20[11] - Net income attributable to Westlake Chemical Corporation for 1Q21 was $242 million, compared to $113 million in 4Q20 and $145 million in 1Q20[8, 24] - Diluted earnings per share attributable to Westlake Chemical Corporation for 1Q21 was $1.87, compared to $0.87 in 4Q20 and $1.13 in 1Q20[8, 24] Segment Performance - Vinyls segment sales for 1Q21 were $1820 million, a 14% increase compared to $1590 million in 4Q20 and a 21% increase compared to $1505 million in 1Q20[15] - Vinyls segment EBITDA for 1Q21 was $367 million, a 10% increase compared to $334 million in 4Q20 and a 58% increase compared to $232 million in 1Q20[15] - Olefins segment sales for 1Q21 were $537 million, a 43% increase compared to $375 million in 4Q20 and a 26% increase compared to $427 million in 1Q20[18] - Olefins segment EBITDA for 1Q21 was $216 million, a 266% increase compared to $59 million in 4Q20 and a 120% increase compared to $98 million in 1Q20[18] Industry Outlook and Sustainability - The company is focused on sustainability, launching green caustic soda with a reduced CO2 impact of more than 30% compared to conventional caustic soda[4, 10] - Over a five-year period, Westlake has reduced Sulphur Dioxide emissions to almost zero and achieved a nearly 30% reduction on CO2 emissions[4]