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Westlake (WLK) Arm to Unveil New Roofing Products at the IBS

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Westlake Corporation's (WLK - Free Report) unit, Westlake Royal Building Products, will showcase its energy-efficient and weather-resistant roofing systems and solutions at the 2024 International Builders' Show (IBS), which will take place from Feb 27 to Feb 29 at the Las Vegas Convention Center.

Westlake Royal's roofing brands feature product lines such as Newpoint Concrete Roof Tile, US Tile Clay Roofing Products, Unified Steel Stone Coated Roofing, DaVinci Roofscapes and Westlake Royal Roofing Components. The company will also introduce four new products during the show: the Unified Steel Material List Generator, Unified Steel Cool Roof Colors, a CEU course for architects on roof underlayments and a new DaVinci color external support series.

The Unified Steel Material List Generator is the first of four new products Westlake Royal will introduce at this year's IBS. The intuitive system, an interactive tool that generates a roofing product list, significantly simplifies the estimating process for both Unified Steel Stone Coated Roofing, the ultra-lightweight roofing system that benefits from steel's structural strength and Westlake Royal Roofing Components, a range of integrated roof components designed to deliver a higher standard of roof installation and performance. The tool works perfectly with roof measurements obtained traditionally or through 3D and GIS measurement generation software. It is free for builders and contractors to utilize.

Westlake Royal will also showcase its new Unified Steel Cool Roof Colors, which are rated by the Cool Roof Rating Council. When solar energy strikes the roof surface, each hue provides strong solar reflectivity and thermal emittance, deflecting sunlight and radiating heat away from it.

Shares of Westlake have gained 13.8% over the past year compared with an 8.9% rise of its industry.

Zacks Investment Research
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For 2024, WLK anticipates healthy consumer spending in the United States, buoyed by a resilient labor market and declining interest rates, to drive moderate growth in HIP segment sales volume. Within the PEM segment, WLK does not anticipate additional decline, as recent indications suggest stabilization in sales prices and volumes across domestic and export markets for most products.

Zacks Rank & Key Picks

Westlake currently carries a Zacks Rank #3 (Hold).

Better-ranked stocks in the basic materials space include United States Steel Corporation (X - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Alpha Metallurgical Resources Inc. (AMR - Free Report) .

United States Steel carrying a Zacks Rank #1 (Strong Buy). X beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 54.8%. The company’s shares have soared 64.8% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.

Carpenter Technology currently carries a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, with the average earnings surprise being 12.2%. The company’s shares have soared 33.6% in the past year.

The Zacks Consensus Estimate for AMR’s current-year earnings has been revised upward by 69% in the past 60 days. It currently carries a Zacks Rank #1.  AMR delivered a trailing four-quarter earnings surprise of roughly 9.6%, on average. AMR shares are up around 164% in a year.

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