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Westlake (WLK) Expands Partnership With U.S. LUMBER & Amerhart
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Westlake Corporation’s (WLK - Free Report) unit, Westlake Royal Building Products, has announced the expansion of its relationship with U.S. LUMBER and Amerhart, both Specialty Building Products brands, including several products and locations. Amerhart and U.S. LUMBER are two of the most prominent building material distributors.
U.S. LUMBER and Amerhart will add distribution for more of Westlake Royal's leading brands, including Versetta Stone, SkyTrim, Royal Trim & Mouldings, and Cedar Renditions, across multiple locations in Michigan, Wisconsin, Ohio, Pennsylvania, New York, New Jersey and Massachusetts as part of this expanded partnership.
Westlake will provide its customers with more customized solutions that fit their needs throughout the country through this expanded partnership with U.S. LUMBER.
Shares of Westlake have gained 19.2% over the past year compared with an 11.1% rise of its industry.
Image Source: Zacks Investment Research
The company, on its third-quarter call, said that it anticipates that in the fourth quarter of 2023, the macroeconomic environment will remain weak, with high interest rates and higher inflation driving lower demand for all of its products and low sales prices in the PEM category. The company believes that its products are well-placed in each of its segments, notwithstanding this short-term forecast.
The North American structural feedstock and energy cost advantage, a high degree of vertical integration and product diversification are expected to drive PEM volumes and profitability. The company's record performance in the Housing and Infrastructure Products segment demonstrates the strength of its portfolio and its aptitude for navigating these difficult market circumstances. Apart from the regular seasonal drop in sales during the fourth quarter, the company anticipates a certain effect on sales volume due to the high level of borrowing rates.
Westlake currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Denison Mines Corp. (DNN - Free Report) , Axalta Coating Systems Ltd. (AXTA - Free Report) and The Andersons Inc. (ANDE - Free Report) .
Denison Mines has a projected earnings growth rate of 100% for the current year. It currently carries a Zacks Rank #1 (Strong Buy). DNN delivered a trailing four-quarter earnings surprise of roughly 225%, on average. The stock is up around 42.7% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Axalta has a projected earnings growth rate of 5.4% for the current year. It currently carries a Zacks Rank #1. AXTA delivered a trailing four-quarter earnings surprise of roughly 6.7%, on average. The stock is up around 15.7% in a year.
Andersons currently carries a Zacks Rank #2. The stock has gained roughly 28.2% in the past year. ANDE beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4%, on average.
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Westlake (WLK) Expands Partnership With U.S. LUMBER & Amerhart
Westlake Corporation’s (WLK - Free Report) unit, Westlake Royal Building Products, has announced the expansion of its relationship with U.S. LUMBER and Amerhart, both Specialty Building Products brands, including several products and locations. Amerhart and U.S. LUMBER are two of the most prominent building material distributors.
U.S. LUMBER and Amerhart will add distribution for more of Westlake Royal's leading brands, including Versetta Stone, SkyTrim, Royal Trim & Mouldings, and Cedar Renditions, across multiple locations in Michigan, Wisconsin, Ohio, Pennsylvania, New York, New Jersey and Massachusetts as part of this expanded partnership.
Westlake will provide its customers with more customized solutions that fit their needs throughout the country through this expanded partnership with U.S. LUMBER.
Shares of Westlake have gained 19.2% over the past year compared with an 11.1% rise of its industry.
Image Source: Zacks Investment Research
The company, on its third-quarter call, said that it anticipates that in the fourth quarter of 2023, the macroeconomic environment will remain weak, with high interest rates and higher inflation driving lower demand for all of its products and low sales prices in the PEM category. The company believes that its products are well-placed in each of its segments, notwithstanding this short-term forecast.
The North American structural feedstock and energy cost advantage, a high degree of vertical integration and product diversification are expected to drive PEM volumes and profitability. The company's record performance in the Housing and Infrastructure Products segment demonstrates the strength of its portfolio and its aptitude for navigating these difficult market circumstances. Apart from the regular seasonal drop in sales during the fourth quarter, the company anticipates a certain effect on sales volume due to the high level of borrowing rates.
Westlake Corp. Price and Consensus
Westlake Corp. price-consensus-chart | Westlake Corp. Quote
Zacks Rank & Key Picks
Westlake currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Denison Mines Corp. (DNN - Free Report) , Axalta Coating Systems Ltd. (AXTA - Free Report) and The Andersons Inc. (ANDE - Free Report) .
Denison Mines has a projected earnings growth rate of 100% for the current year. It currently carries a Zacks Rank #1 (Strong Buy). DNN delivered a trailing four-quarter earnings surprise of roughly 225%, on average. The stock is up around 42.7% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Axalta has a projected earnings growth rate of 5.4% for the current year. It currently carries a Zacks Rank #1. AXTA delivered a trailing four-quarter earnings surprise of roughly 6.7%, on average. The stock is up around 15.7% in a year.
Andersons currently carries a Zacks Rank #2. The stock has gained roughly 28.2% in the past year. ANDE beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4%, on average.