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Westlake Westlake Chemical Corporation Reports Third Quarter 2021 Results November 2 , 2021 • Record quarterly net sales of $ 3.1 billion • Record quarterly net income of $ 607 million • Record quarterly EBITDA of $ 1.1 billion • Completed acquisitions of Boral's North American building products businesses , Dimex LLC and LASCO Fittings , Inc. HOUSTON -- ( BUSINESS WIRE ) -- Westlake Chemical Corporation ( NYSE : WLK ) ( the " Company " or " Westlake " ) today reported record net income , excluding one - time tax benefits in a prior quarter , attributable to Westlake for the three months ended September 30 , 2021 of $ 607 million , or $ 4.69 per diluted share , on record net sales of $ 3,055 million . Net income in the third quarter of 2021 increased by $ 550 million , or $ 4.24 per share , from third quarter 2020 net income of $ 57 million on net sales of $ 1,898 million despite the negative impacts of Hurricane Ida . Income from operations for the third quarter of 2021 was a quarterly record of $ 861 million , and increased by $ 782 million from income from operations of $ 79 million for the third quarter of 2020. The increases in net income and income from operations were driven by significantly higher sales prices and margins for most of our major products . PVC resin margins benefited from the continued strength of residential construction coupled with the solid repair and remodeling markets , also driving demand in our building products business . Additionally , the olefins business experienced robust strength from packaging and consumer markets resulting in higher prices and margins driven by the global economic expansion . Third quarter 2021 net income of $ 607 million , or $ 4.69 per share , increased by $ 85 million from second quarter 2021 net income of $ 522 million . Income from operations of $ 861 million for the third quarter of 2021 increased by $ 141 million from income from operations of $ 720 million for the second quarter of 2021. The increases in net income and income from operations versus the prior quarter were primarily due to higher sales prices and higher margins for most of our major products , including caustic soda and building products . For the first nine months of 2021 , net income of $ 1,371 million , or $ 10.60 per share , increased by $ 1,154 million from the first nine months of 2020 net income of $ 217 million . Income from operations of $ 1,927 million for the first nine months of 2021 increased by $ 1,676 million from income from operations of $ 251 million for the first nine months of 2020 , which was severely impacted by the global COVID - 19 pandemic . The increases in net income and income from operations were primarily due to the global economic recovery , which has driven strong demand and significantly higher sales prices and margins for most of our major products and strong demand in our building products business . On August 19 , 2021 , Westlake announced that it acquired LASCO Fittings , Inc. ( " LASCO " ) , a leading manufacturer of injected- molded PVC fittings . The acquisition will add complementary products to NAPCO's existing portfolio of pipe and fittings products , with an emphasis on new products and new markets . On September 10 , 2021 , Westlake announced the completion of the acquisition of Dimex LLC ( " Dimex " ) . The acquisition adds a range of post - industrial recycled plastic consumer and building products , including landscape edging ; industrial , home and office matting ; marine dock edging ; and masonry joint controls . Dimex is engaged in the development of additional opportunities to increase the use of recycled materials to meet the growing demand for sustainable and durable consumer products . On October 1 , 2021 , Westlake announced the completion of the acquisition of Boral Limited's North American building products businesses ( " Boral North America " ) in roofing ; siding , trim and shutters ; decorative stone ; and windows . The acquisition positions Westlake at the forefront of the growing building products and construction markets , with durable and sustainable materials and creates opportunities for further product innovations . " In the third quarter , we accomplished a number of milestones at Westlake . We achieved a consecutive quarter of record earnings as we continue to benefit from the global economic expansion that began early in the second half of 2020 with strong demand across our product offerings which enhance the lives of countless peoples , illustrating the earnings capabilities of our company , " said Albert Chao , President and Chief Executive Officer . " As global supply chains and manufacturing recover to meet pent - up consumer demand across the spectrum of manufactured goods , Westlake is well positioned to continue to deliver strong results . " " Through the investments of approximately $ 2.6 billion we made in our recent acquisitions of Boral North America , Dimex and LASCO , we have created a platform for the next chapter of our growing building products business in North America , " continued Mr. Chao . " These investments build our footprint in the sustainable building product markets , enhancing our position to drive greater value with new and complementary platforms and long - term growth opportunities for Westlake . We are excited to welcome the Boral , Dimex and LASCO employees to the Westlake family . " Net cash provided by operating activities was $ 755 million for the third quarter of 2021. As of September 30 , 2021 , cash and cash equivalents were $ 3,571 million and long - term debt was $ 5,197 million . Capital expenditures were $ 144 million for the third quarter