Key Points Disruptions lifting ethylene/PE, methanol, and fertilizer prices should also benefit downstream chains like chlorovinyls and acetyls Higher oil prices and a wider U.S. feedstock advantage suggest estimates for several commodity...
Key Points Cost cuts, reliability gains, and the PEM improvement plan drive earnings upside largely independent of demand recovery Shares continue to price in housing weakness, while demographic tailwinds and mid-cycle earnings...
Key Points Q4'25 EPS and EBITDA beat on PEM segment improvements Management's near-term commentary mixed We rate WLK shares Overweight with a 12-month target price of USD100 Summary Westlake Corporation announced Q4’25 earnings this morning:...
Key Points U.S. natural gas and NGL oversupply will persist, limiting ethane price upside Normalization of frac spread would erode ethylene margins by 3.4c/lb., at most We rate our U.S. ethane-exposed names DOW...
Key Points Global polyethylene capacity growth continues into 2026 (~4% Y-o-Y) but remains manageable; higher oil prices could provide a pricing tailwind Consensus earnings estimates for polyethylene producers appear undemanding, based on...
Key Points Supply wave fading. Ethylene capacity growth into 2030 below historical norms as the build cycle rolls off Capacity closures, project cancellations, and China feedstock exposure could remove up to 30+...
Key Points Market underestimating earnings power of the company with shares already trading at trough levels, in our view U.S. housing under-build, demographic growth, and infrastructure spend underpin medium-term volume and margin...
Key Points Q3'25 EPS and EBITDA miss on continued PEM segment weakness Management's near-term commentary mixed We rate WLK shares Overweight with a 12-month target price of USD100 Summary Westlake Corporation announced Q3’25 earnings this...