WLK
Westlake Corporation73.34
-0.29-0.39%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A colors $600M pillars, pricing traction
Q&A drilled into the $600M three-pillar strategy, affirming ratable 2026 delivery despite Q4 savings pull-forward from asset closures, with full footprint benefits accruing now. Management flagged early pricing traction—$0.05 in polyethylene, PVC restocking, $140/ton caustic—boosted by China's April VAT rebate cut curbing exports. HIP's 19-21% margin guide bakes in flat starts, ACI accretion, innovations like PVCO, but mix and Q1 seasonality loom. Analysts probed free cash and tariffs; responses stressed positivity goals and USMCA protection. No walk-backs. Execution trumps visibility.
Key Stats
Market Cap
9.41BP/E (TTM)
-Basic EPS (TTM)
-7.43Dividend Yield
0.03%Recent Filings
8-K
10-K
FY2025 results
Westlake Corporation posted a net loss of $1.5B on $11.2B sales for FY2025 ended December 31, 2025, down sharply from $602M profit on $12.1B sales in 2024, as PEM swung to a $2.1B operating loss from $129M profit amid 8% lower sales from plunging PVC, PE, and chlorine prices/volumes plus $727M North American Chlorovinyls goodwill impairment and $640M restructuring charges for Q4 closures of Lake Charles chlorovinyls/styrene plants ($393M hit), Pernis epoxy units ($247M), and others. HIP income fell 27% to $587M on 4% softer sales, yet pipe/fittings volumes rose while building products lagged. Q4 momentum faltered with facility shutdowns; debt hit $5.6B after $1.2B notes issuance, cash at $2.7B. Buybacks totaled $63M. Cyclical oversupply pressures PEM margins.
8-K
Q4 losses from shutdowns
Westlake posted Q4 2025 net sales of $2.5B and full-year $11.2B, down 11% and 8% YoY, with net losses of $544M and $1.5B hammered by $511M Q4 charges from PEM plant shutdowns and HIP restructuring. Excluding identified items, Q4 EBITDA hit $196M while full-year reached $1.1B. Actions taken optimize footprint and cut costs, targeting $600M EBITDA lift in 2026. Plant reliability improved sharply.
8-K
CFO retires; board adds experts
Westlake's CFO M. Steven Bender announced retirement on February 19, 2026, effective upon successor appointment. Board expanded to 14 members, electing chemicals veteran Bob Patel as Class III director through 2028 and CEO Jean-Marc Gilson as Class I director through 2026. Patel gets $175,000 RSUs vesting February 20, 2027. Deep expertise bolsters oversight.
8-K
Westlake completes ACI acquisition
Westlake Corporation completed its acquisition of the global compounding solutions businesses of the ACI/Perplastic Group on January 5, 2026. The deal bolsters its Housing & Infrastructure Products segment by expanding manufacturing into Portugal, Romania, and Tunisia, while adding specialty wire-and-cable materials. Integration promises new technologies. Risks could alter anticipated benefits.
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