Westlake (WLK) Announces Launch of PIVOTAL Product Line
Westlake Corporation WLK has introduced PIVOTAL, a line of "one-pellet solutions" for incorporating post-consumer resin (PCR) into flexible packaging. PIVOTAL provides consumers with a more sustainable material for non-FDA applications.
Westlake developed PIVOTAL to allow customers to maintain application performance while implementing up to 45% PCR. Strict quality control throughout sourcing and manufacture guarantees that the product has qualities comparable to virgin resin. This one-pellet solution is gaining traction as a more environmentally friendly option for monolayer and multilayer film applications.
PIVOTAL was certified by GreenCircle in October 2022. In order to validate the PCR loading in each PIVOTAL offering and to certify the PCR feedstock as coming from post-consumer sources, GreenCircle Certified, LLC carried out an independent, third-party review. This certification conformed with LEED v4 & v4.1 MR standards and was carried out in compliance with ISO14021 and the FTC Green Guides.
WLK is continuing with its sustainability efforts by launching the PIVOTAL product line. PIVOTAL joins the company’s portfolio of more environmentally friendly products, which includes Westlake Vinnolit’s GreenVin lower-carbon PVC and Westlake Pipe & Fittings’ molecular-oriented PVC pipe.
Shares of WLK have gained 40.6% over the past year compared with a 27.6% rise of its industry.
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WLK, on its second-quarter call, noted that it will focus on improving controllable costs and commercializing innovation in the Performance and Essential Materials unit in the remainder of 2023. For the Housing and Infrastructure Products segment, the company believes that its diverse portfolio of products with varied price points will allow it to help its customers address homebuyer affordability concerns through the substitution of materials.
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 Carpenter Technology Corporation CRS, The Andersons Inc. ANDE and Hawkins Inc. HWKN.
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). The stock has rallied roughly 88.3% in the past year. CRS beat the Zacks Consensus Estimate in three of the last four quarters while meeting in one. It delivered a trailing four-quarter earnings surprise of 9.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Andersons currently carries a Zacks Rank #1. The stock has gained roughly 54.8% in the past year. ANDE beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4%, on average.
Hawkins currently carries a Zacks Rank #1. The stock has rallied roughly 54.8% in the past year. HWKN beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 25.6%, on average.
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