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Westlake (WLK) Announces Investment to Manufacture PVCO Pipe
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Westlake Corporation’s (WLK - Free Report) division, Westlake Pipe & Fittings, has announced intentions to construct a new molecular-oriented polyvinyl chloride (PVCO) pipe plant at its manufacturing facility in Wichita Falls, TX. The facility expansion represents a significant step forward in Westlake's commitment to regional growth, innovation and job creation.
The plan calls for the construction of a 190,000-square-foot facility to the current site at 3348 Industrial Drive, utilizing the region's advantageous geographic location in the center of the United States.
This investment will increase Westlake Pipe & Fittings' product offering by expanding PVCO pipe manufacturing, a sophisticated molecular-oriented PVC pipe that the company presented in Canada in 2021. Westlake Pipe & Fittings PVCO pipe, manufactured with cutting-edge technology, sets the industry standard for excellent strength, durability and potable water transportation. The novel material simplifies installation, provides superior performance and has a lower environmental impact.
The introduction of PVCO pipe manufacturing in the region underscores the company's commitment to providing customers with an unsurpassed assortment of PVC pipe and fittings.
Westlake Pipe & Fittings expects the move to generate new opportunities for qualified professionals, and the company has worked closely with local government leaders to obtain their support for expansion-related incentives. Construction is currently scheduled to commence at the end of 2024.
Shares of Westlake have gained 41.7% over the past year compared with a 34.3% rise of its industry.
Image Source: Zacks Investment Research
The company, on its first-quarter call, said that it sees continued growth for the Housing and Infrastructure Products segment despite high inflation and interest rates. This is primarily owing to a limited supply of houses and favorable demographics that support sustained housing demand.
In the Performance and Essential Materials segment, near-term performance is expected to remain relatively stable. However, growth in this segment could be limited by weak end-market demand and low-priced imports from Asia in some product categories and regions.
While the company is waiting for broader economic conditions to improve, it is taking steps to boost profitability in its European operations by implementing structural cost reductions. Additionally, it is investing in projects to enhance the reliability and efficiency of its plants.
Westlake currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include ATI Inc. (ATI - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Ecolab Inc. (ECL - Free Report) .
ATI carries a Zacks Rank #2 (Buy) at present. ATI beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 8.3%. The company’s shares have soared 65.5% in the past year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) 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 15.1%. The company’s shares have soared 137.7%% in the past year.
The Zacks Consensus Estimate for Ecolab's current-year earnings is pegged at $6.59 per share, indicating a year-over-year rise of 26.5%. ECL, a Zacks Rank #2 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 1.3%. The company’s shares have rallied roughly 39.1% in the past year.
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Westlake (WLK) Announces Investment to Manufacture PVCO Pipe
Westlake Corporation’s (WLK - Free Report) division, Westlake Pipe & Fittings, has announced intentions to construct a new molecular-oriented polyvinyl chloride (PVCO) pipe plant at its manufacturing facility in Wichita Falls, TX. The facility expansion represents a significant step forward in Westlake's commitment to regional growth, innovation and job creation.
The plan calls for the construction of a 190,000-square-foot facility to the current site at 3348 Industrial Drive, utilizing the region's advantageous geographic location in the center of the United States.
This investment will increase Westlake Pipe & Fittings' product offering by expanding PVCO pipe manufacturing, a sophisticated molecular-oriented PVC pipe that the company presented in Canada in 2021. Westlake Pipe & Fittings PVCO pipe, manufactured with cutting-edge technology, sets the industry standard for excellent strength, durability and potable water transportation. The novel material simplifies installation, provides superior performance and has a lower environmental impact.
The introduction of PVCO pipe manufacturing in the region underscores the company's commitment to providing customers with an unsurpassed assortment of PVC pipe and fittings.
Westlake Pipe & Fittings expects the move to generate new opportunities for qualified professionals, and the company has worked closely with local government leaders to obtain their support for expansion-related incentives. Construction is currently scheduled to commence at the end of 2024.
Shares of Westlake have gained 41.7% over the past year compared with a 34.3% rise of its industry.
Image Source: Zacks Investment Research
The company, on its first-quarter call, said that it sees continued growth for the Housing and Infrastructure Products segment despite high inflation and interest rates. This is primarily owing to a limited supply of houses and favorable demographics that support sustained housing demand.
In the Performance and Essential Materials segment, near-term performance is expected to remain relatively stable. However, growth in this segment could be limited by weak end-market demand and low-priced imports from Asia in some product categories and regions.
While the company is waiting for broader economic conditions to improve, it is taking steps to boost profitability in its European operations by implementing structural cost reductions. Additionally, it is investing in projects to enhance the reliability and efficiency of its plants.
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 ATI Inc. (ATI - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Ecolab Inc. (ECL - Free Report) .
ATI carries a Zacks Rank #2 (Buy) at present. ATI beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 8.3%. The company’s shares have soared 65.5% in the past year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) 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 15.1%. The company’s shares have soared 137.7%% in the past year.
The Zacks Consensus Estimate for Ecolab's current-year earnings is pegged at $6.59 per share, indicating a year-over-year rise of 26.5%. ECL, a Zacks Rank #2 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 1.3%. The company’s shares have rallied roughly 39.1% in the past year.