Westlake Corp. announced its third-quarter 2023 financial results. In the third-quarter of 2023, Westlake achieved quarterly net sales of $3.1 billion, quarterly net income of $285 million and quarterly EBITDA (earnings before interest expense, income taxes, depreciation and amortization) of $682 million, including reported record housing and infrastructure products (HIP) segment quarterly income from operations of $256 million and EBITDA of $327 million.
Sales volumes for HIP increased 7% while performance and essential materials (PEM) sales volumes increased 2% from the second-quarter of 2023. Overall sales volumes for the company increased 4% sequentially from the previous quarter. When compared to the third-quarter of 2022, HIP sales volumes were unchanged while PEM sales volumes decreased 1%, resulting in a 1% overall sales volume decline for the company.