Yahoo Finance Westlake (WLK) Gets ISCC PLUS Certification at its Germany Site
Westlake Corporation WLK announced that its Westlake Epoxy Duisburg, Germany, manufacturing plant has been awarded the International Sustainability & Carbon (ISCC) Plus certification. The facility got mass balance accreditation for its use of sustainable materials in the production of epoxy-specialized products.
This is the second Westlake Epoxy plant in Europe to achieve ISCC PLUS certification. The company’s goal is to attain this certification for all Westlake Epoxy locations in Europe in the near future.
The ISCC PLUS certification enables Westlake's clients to access a broader selection of innovative, renewable and low-carbon footprint products. The mass balancing idea provides a similar performance to typical epoxy materials while assisting WLK’s customers in meeting their sustainability goals.
This recent certification illustrates Westlake's continued commitment to being more ecologically friendly. The Westlake Epoxy strategy is consistent with that of other European enterprises, such as Westlake Vinnolit, all of whose locations are ISCC PLUS certified.
Westlake Epoxy services a wide range of sectors, such as adhesives, aerospace, automotive, civil engineering and construction, composite and wind energy, electronics, electric laminates, marine and protective coatings.
Shares of Westlake have gained 11.6% over the past year compared with a 8.1% rise of its industry.
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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.
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 United States Steel Corporation X, Carpenter Technology Corporation CRS and Alpha Metallurgical Resources Inc. AMR.
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 54.7% 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 34.5% 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 161.4% in a year.
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