WESTLAKE CORP — Form 8-K
Filed November 4, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 38/100
What the filing says
Westlake reported Q3 2026 net sales of $3.0B (flat vs. Q3 2025), net income of $6M or $0.05/share (vs. -$782M loss in Q3 2025), and EBITDA of $408M excl. Identified Items. Excluding $58M in restructuring charges (facility closures in Cologne PVC, North American chlorovinyls facilities, styrene plant), underlying earnings were $58M or $0.45/share. Segment results: HIP sales $1,087M (-0% YoY, -13% QoQ) with $128M operating income; PEM sales $1,894M (+8% YoY) with -$64M operating loss before $56M restructuring charges. Cash position strong at $2.0B.
Why this rating
Mixed quarter with earnings stabilization offset by sequential margin compression (EBITDA margin 14% vs. 21% QoQ) and announced facility closures. Modest relative scale ($3B sales ≈12% of $2.5B market cap quarterly run-rate). Three-pillar plan on track ($200M of $600M target), but near-term headwinds (slowing housing demand, European energy costs, price volatility) limit upside.
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