Quarterly ResultMay 5, 2026, 07:37 AM
Westlake Q1 Net Loss $(169)M; Sales $2.7B; EBITDA $150M
AI Summary
Westlake Corporation announced a Q1 2026 net loss of $169 million, or $1.31 per diluted share, on net sales of $2.7 billion. The results were impacted by $85 million in identified items, including a $67 million litigation settlement and $18 million in facility shutdown charges. Excluding these items, the net loss was $100 million, and EBITDA was $235 million, showing sequential improvement from Q4 2025. The company anticipates margin improvement in its Performance and Essential Materials segment due to the Iranian conflict and declining natural gas costs, while Housing and Infrastructure Products will benefit from infrastructure spending.
Key Highlights
- Westlake Corporation reported Q1 2026 Net sales of $2.7 billion, a 7% decrease YoY but a 5% increase QoQ.
- The company posted a Q1 2026 Net loss of $(169) million, or $(1.31) per diluted share.
- Q1 2026 EBITDA was $150 million, or $235 million excluding $85 million in identified items.
- Identified items included a $67 million charge for PVC pipe litigation settlement and $18 million for facility shutdowns.
- Housing and Infrastructure Products (HIP) segment reported net sales of $993 million and EBITDA (excl. identified items) of $186 million.
- Performance and Essential Materials (PEM) segment reported net sales of $1.66 billion and EBITDA (excl. identified items) of $36 million.
- Net cash used for operating activities was $(94) million, with capital expenditures of $209 million.
- As of March 31, 2026, cash and investments totaled $2.5 billion, and total debt was $5.6 billion.