WESTLAKE CORP

Westlake Corporation announced it will release its second quarter 2026 earnings before market opening on Tuesday, August 4, 2026. Following the release, the company will host a conference call at 11:00 a.m. Eastern Time to discuss the results. Interested parties can pre-register for phone access or listen via webcast, with the earnings release available on the company's investor relations website.

Westlake Corporation announced that its wholly owned subsidiary, Westlake Vinnolit GmbH & Co. KG, has completed the acquisition of a polyvinyl chloride (PVC) and vinyl chloride monomer (VCM) production site in Wilhelmshaven, Germany. This acquisition expands Westlake's global chlorovinyls manufacturing capacity, adding a plant with a production capacity of 380,000 metric tons of PVC per year. The company highlighted the strategic benefits of the Wilhelmshaven plant's location and logistical infrastructure.

Westlake Corporation reported a net loss of $(169) million, or $(1.31) per diluted share, for the first quarter of 2026, a significant increase from the $(40) million loss in Q1 2025. Net sales decreased to $2.65 billion from $2.85 billion year-over-year. The company completed the acquisition of ACI/Perplastic Group's compounding solutions businesses for approximately $124 million and entered into a new $1.5 billion revolving credit facility. Additionally, Westlake announced the redemption of its $496 million 3.60% Senior Notes due August 2026.

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.

Westlake Corporation announced the appointment of Jonathan H. Baksht as its new Senior Vice President and Chief Financial Officer, effective June 15, 2026. Mr. Baksht, 51, brings extensive financial leadership experience, having previously served as CFO for Fortune Brands Innovations, Inc. and Pactiv Evergreen Inc. He will succeed M. Steven Bender, who will transition from his current role to Special Advisor to the President.

Westlake Corporation has entered into a settlement agreement with direct purchasers in the PVC Pipe Antitrust Litigation, agreeing to pay $67 million. This litigation, comprising ten class action lawsuits filed between August 2024 and June 2025, alleged that PVC pipe and fittings manufacturers conspired to fix prices. The settlement, which is subject to court approval, will release Westlake from certain claims by the direct purchasers, though claims by indirect purchaser plaintiffs are still pending. The agreement explicitly states it is not an admission of liability.

Westlake Corporation has entered into a settlement agreement to resolve claims with direct purchasers in the PVC Pipe Antitrust Litigation. The company has agreed to pay $67 million to the direct purchaser settlement class, subject to court approval. This settlement addresses ten putative class action lawsuits alleging price-fixing of PVC pipe and fittings, though claims by indirect purchaser plaintiffs remain pending. The agreement explicitly states it is not an admission of liability or wrongdoing by Westlake.