
Westlake Corporation
NYSE•WLK
CEO: Mr. James Y. Chao
Sector: Basic Materials
Industry: Chemicals - Specialty
Listing Date: 2004-08-12
Westlake Corporation engages in the manufacture and marketing of performance and essential materials, and housing and infrastructure products in the United States, Canada, Germany, China, Mexico, Brazil, France, Italy, Taiwan, and internationally. The company operates through two segments: Performance and Essential Materials and Housing and Infrastructure Products. The Performance and Essential Materials segment offers ethylene, polyethylene, styrene, chlorinated derivative products, ethylene dichloride, vinyl chloride monomer, polyvinyl chloride (PVC), epoxy specialty resins, and base epoxy resins and intermediaries, as well as chlor-alkali, such as chlorine and caustic soda. The Housing and Infrastructure Products segment provides residential PVC sidings; PVC trim and mouldings; architectural stone veneers; windows; PVC decking; PVC films for various inflatables, wallcovering, and tape and roofing applications; polymer composite and cement roof tiles; PVC pipes and fittings for various water, sewer, electrical, and industrial applications; PVC compounds used in various housing, medical, and automobile products; and consumer and commercial products, such as landscape edging; industrial, home, and office matting; marine dock edging; and masonry joint controls. It offers its products to chemical processors, plastics fabricators, small construction contractors, municipalities, and supply warehouses for use in various consumer and industrial markets, including residential construction, flexible and rigid packaging, automotive products, healthcare products, water treatment, wind turbines, and coatings, as well as other durable and non-durable goods. The company was formerly known as Westlake Chemical Corporation and changed its name to Westlake Corporation in February 2022. Westlake Corporation was founded in 1986 and is headquartered in Houston, Texas. Westlake Corporation operates as a subsidiary of TTWF LP.
Contact Information
Market Cap
$9.33B
P/E (TTM)
-9.7
19
Dividend Yield
2.9%
52W High
$122.70
52W Low
$56.33
52W Range
Rank26Top 9.6%
5.9
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5.9 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024
Financial Dashboard
Q3 2025 Data
Revenue
$2.84B-8.95%
4-Quarter Trend
EPS
-$6.10-834.94%
4-Quarter Trend
FCF
-$57.00M-122.44%
4-Quarter Trend
2025 Q3 Earnings Highlights
Key Highlights
Significant Quarterly Operating Loss Net loss attributable to WLK reached $(782)M for Q3 2025, a sharp decline from $108M income prior year.
Major Goodwill Impairment Charge Recorded non-cash goodwill impairment charge of $727M in Q3 2025, covering all goodwill in Chlorovinyls unit.
Net Sales Decline 9% Q3 2025 net sales fell 9% to $2.838B, driven by 5% lower average prices and 4% lower volumes.
Nine Month Net Loss $964M Nine months net loss was $(964)M versus $595M net income prior year, reflecting severe margin compression.
Risk Factors
Macroeconomic Headwinds Persist Lower prices and demand across segments, coupled with higher energy/feedstock costs, severely impacted Q3 margins.
Chlorovinyls Unit Performance North American Chlorovinyls unit experienced operating losses and forecast revisions, leading directly to $727M goodwill write-down.
Operating Cash Flow Drops Nine months net cash provided by operating activities fell to $240M from $880M, resulting in negative FCF.
Ongoing Antitrust Litigation Risks Company faces multiple class action lawsuits regarding Caustic Soda and PVC Pipe pricing; impact estimation is currently impossible.
Outlook
New Tax Law Benefits Cash Expect OBBBA tax law changes to reduce cash tax without materially impacting the effective income tax rate going forward.
Pernis Facility Closure Timeline Expect to incur additional restructuring charges of approximately $65M for Pernis closure, completing the plan in 2030.
Adequate Liquidity Maintained Cash and cash equivalents totaled $1.927B; credit agreement provides $1.5B availability, supporting normal operations.
Housing Demand Near Term Risk Inflation and decade-high mortgage rates are expected to negatively impact demand for Housing and Infrastructure Products near term.
Peer Comparison
Revenue (TTM)
AA$13.26B
MOS$11.89B
WLK$11.48B
Gross Margin (Latest Quarter)
HL44.1%
ESI42.2%
EQX33.4%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| SQM | $18.27B | 37.6 | 9.2% | 40.2% |
| ALB | $15.68B | -249.5 | -0.6% | 22.0% |
| SUZ | $11.65B | 9.7 | 16.5% | 60.7% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-0.1%
Flat Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
75%
Volatile Cash Flow
Research & Insights
Next earnings:Feb 23, 2026
EPS:-$0.49
|Revenue:-
Reports
All Years
Form 10-Q - Q3 2025
Period End: Sep 30, 2025|Filed: Oct 31, 2025|Revenue: $2.84B-9.0%|EPS: $-6.10-834.9%MissForm 10-Q - Q2 2025
Period End: Jun 30, 2025|Filed: Aug 6, 2025|Revenue: $2.95B-7.9%|EPS: $-1.10-145.5%MissForm 10-Q - Q1 2025
Period End: Mar 31, 2025|Filed: May 2, 2025|Revenue: $2.85B-4.3%|EPS: $-0.31-123.0%MissForm 10-K - FY 2024
Period End: Dec 31, 2024|Filed: Feb 25, 2025|Revenue: $12.14B-3.2%|EPS: $4.66+25.3%BeatForm 10-Q - Q3 2024
Period End: Sep 30, 2024|Filed: Nov 6, 2024|Revenue: $3.12B+0.1%|EPS: $0.83-62.4%MissForm 10-Q - Q2 2024
Period End: Jun 30, 2024|Filed: Aug 9, 2024|Revenue: $3.21B-1.4%|EPS: $2.42+4.3%BeatForm 10-Q - Q1 2024
Period End: Mar 31, 2024|Filed: May 2, 2024|Revenue: $2.98B-11.4%|EPS: $1.35-56.0%BeatForm 10-K - FY 2023
Period End: Dec 31, 2023|Filed: Feb 22, 2024|Revenue: $12.55B-20.6%|EPS: $3.72-78.7%Beat