WESTLAKE CORP SEC Filings

Westlake Corporation reported a strong Q2 2026 recovery, with net sales of $3,271 million, up 11% year over year, and net income attributable to Westlake of $260 million versus a $142 million loss a year earlier; diluted EPS was $2.01. EBITDA rose to $679 million and gross margin improved to 20% from 9%, driven by higher polyethylene and PVC resin prices, stronger pipe and fittings, caustic soda and epoxy volumes, and lower fuel and ethane feedstock costs, partly offset by lower pipe and fittings pricing.

For the first half of 2026, net income attributable to Westlake was $91 million compared with a $182 million loss in 2025, as EBITDA increased to $829 million. Free Cash Flow remained negative at $192 million due to $416 million of capital expenditures, $171 million of business acquisitions and the $496 million redemption of 3.60% 2026 Senior Notes, leaving cash, cash equivalents and restricted cash at $1,660 million and long-term debt at $5,067 million as of June 30, 2026. The company closed a new $1.5 billion unsecured revolving credit facility maturing in 2031, completed the $124 million ACI acquisition and a $109 million Wilhelmshaven PVC/VCM plant purchase, and recorded a $67 million charge to settle certain U.S. PVC pipe antitrust litigation. Environmental and plant-closure liabilities, including the Pernis facility and North American chlorovinyls and styrene shutdowns, remain meaningful but are being addressed over multi-year plans.

Westlake Corporation reported a sharp rebound in profitability for the quarter ended June 30, 2026. Net sales were $3.27 billion, up from $2.95 billion a year earlier, and net income attributable to the company was $260 million, or $2.01 per diluted share, compared with a loss of $1.11 per share. EBITDA reached $679 million, double the $340 million generated in the prior-year quarter and up strongly from $235 million in the first quarter, supported by higher average sales prices, increased volumes and progress on a three‑pillar profitability improvement plan targeting a $600 million operating income uplift in 2026.

In Housing and Infrastructure Products, sales were $1.25 billion with EBITDA of $276 million and a 22% margin, driven by strong pipe and fittings demand despite lower average prices. Performance and Essential Materials delivered $2.02 billion of sales and $416 million of EBITDA, a 21% margin, reversing last year’s loss on the back of higher polyethylene and PVC resin pricing and lower North American feedstock costs.

Westlake generated $318 million of operating cash flow and $111 million of free cash flow in the quarter, spent $207 million on capital expenditures, redeemed approximately $500 million of 3.60% 2026 senior notes and ended June 30, 2026 with $1.9 billion of cash, cash equivalents and fixed‑income investments and $5.1 billion of total debt. The company also acquired a PVC and VCM production site in Wilhelmshaven, Germany and replaced its existing revolving credit facility with a new $1.5 billion revolver maturing in 2031.

Westlake Corporation reports developments in a series of fourteen civil lawsuits in Europe known as the Ethylene Antitrust Litigation. On July 29, 2026, the District Court of Amsterdam dismissed claims against Westlake and other defendants in two Dutch cases: a lawsuit filed by Shell Chemical Europe B.V. in March 2023, in which the plaintiff had alleged approximately €1,025 million in damages plus statutory interest, and a lawsuit filed by Stichting Ethylene Claims in November 2023 seeking a declaratory judgment on liability for damages. Both dismissals are subject to appeal by the plaintiffs, and twelve additional lawsuits within the Ethylene Antitrust Litigation remain pending at first instance courts.

Baksht Jonathan reported acquisition or exercise transactions in this Form 4 filing.

Westlake Corp SVP and CFO Jonathan Baksht reported receiving a grant of 20,580 restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of Westlake common stock, and all of these RSUs are scheduled to vest on June 15, 2029.

Westlake Corporation, through its wholly owned German subsidiary Westlake Vinnolit GmbH & Co. KG, has completed the previously announced acquisition of a polyvinyl chloride (PVC) and vinyl chloride monomer (VCM) production site in Wilhelmshaven, Germany.

The Wilhelmshaven plant, which was previously in insolvency administration, has capacity to produce 380,000 metric tons of PVC per year. Westlake states that the acquisition strengthens its Performance & Essential Materials business by expanding its global chlorovinyls manufacturing footprint and complements existing facilities in Europe and North America.

The site benefits from a deep-water dock on Germany’s North Sea coast, which is expected to support efficient raw-materials supply and logistics. Westlake also highlights the integration of the plant’s employees into its broader organization as part of this expansion.

WESTLAKE CORP executive Jonathan Baksht, the company’s SVP and CFO, filed an initial Form 3 statement of beneficial ownership. This filing reports no stock transactions, no derivative exercises, and no reported holdings or positions, serving purely as an initial ownership disclosure in his officer role.

Westlake Corporation reported results of its 2026 annual stockholder meeting. Stockholders elected five directors to the Board, with votes for individual nominees ranging from 116,153,586 to 122,162,962 shares, plus broker non-votes. An advisory vote to approve named executive officer compensation passed with 121,890,636 votes for, 1,497,095 against and 88,139 abstentions, along with 1,921,982 broker non-votes. Stockholders also ratified the appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, with 124,742,536 votes for, 643,992 against and 11,324 abstentions.

WESTLAKE CORP EVP & CFO Mark Steven Bender reported routine equity compensation activity. On May 12, 2026, he exercised 13,164 restricted stock units (RSUs), which converted into the company’s common stock on a one-for-one basis, reflecting the vesting of RSUs granted on May 12, 2023.

On May 13, 2026, 5,284 common shares otherwise issuable were withheld to cover tax obligations arising from this vesting, a non-market, tax-withholding disposition. After these transactions, he beneficially owns 35,895 common shares directly.

Westlake Corporation reported a significantly weaker first quarter of 2026. Net sales fell to $2.65 billion from $2.85 billion, and net loss attributable to the company widened to $169 million, or $(1.31) per share, versus a $40 million loss, or $(0.31) per share, a year earlier.

Gross profit dropped to $112 million with margin halved to 4% from 8%, driven by lower volumes and prices for PVC resin, polyethylene, caustic soda, chlorine and building products, as well as higher fuel costs and a $67 million litigation-related charge. EBITDA declined to $150 million from $288 million.

The Housing and Infrastructure Products segment remained profitable but saw income from operations fall to $56 million from $148 million, while the Performance and Essential Materials segment’s loss from operations deepened to $211 million. Westlake completed the $124 million ACI acquisition, invested $209 million in capital expenditures, used $94 million in operating cash flow, and ended the quarter with $2.27 billion in cash and cash equivalents plus $205 million in available-for-sale securities. It also put in place a new $1.5 billion revolving credit facility and plans to redeem $496 million of 3.60% 2026 senior notes.