Jun 2026 (Q2 FY26) — Aug 4, 2026
Westlake Corporation Q2 FY26 — Strong Earnings Driven by PEM Feedstock Advantage and Profitability Plan
Read the full callWestlake (WLK) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Westlake earnings: last reported Tue, 4 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 3,271 | +10.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 11.1 | +14.8 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 260 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
What management said, and what became of it
7 of 7 judged targets kept · 19 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| 3-pillar profitability improvement plan total 2026 EBITDA benefit | $600 million | Dec 2025 | We continue to target $600 million of combined EBITDA benefit in 2026 from our profitability improvement plan. | On Track |
| Epoxy segment return to profitability | return to profitability in 2026 | Jun 2025 | Our footprint optimization actions significantly reduced PEMs fixed cost and returned our Epoxy business to profitability for the first time since 2023. | Achieved |
19 of WESTLAKE CORP's 26 targets are still open. See which are on track and which have gone quiet. The 2 above are the free sample; 24 more targets are in the full ledger.
Claimed
- Net sales of $3.3 billion, a substantial improvement from Q1 FY26 and Q2 FY25.
- EBITDA of $679 million, a substantial improvement from Q1 FY26 and Q2 FY25.
- 3-pillar profitability improvement plan contributed approximately $150 million to year-over-year EBITDA improvement in Q2 FY26, tracking ahead of plan.
- HIP segment achieved 6% year-over-year organic sales volume growth, leading to stable segment EBITDA despite soft residential construction.
- PEM's average sales price increased 21% sequentially, benefiting from higher oil prices and North American feedstock advantage, driving higher margins.
Qualified
- HIP EBITDA margin declined to 22% from 24% in Q2 FY25, driven by lower average sales price and inflation in transportation and raw material costs.
- HIP expects Q3 pipe sales volumes to be modestly impacted by a pull-forward of orders into Q2 FY26 due to customers securing supply.
- HIP's 2026 revenue and EBITDA margin guidance lowered to the lower end of previously communicated ranges ($4.4B-$4.6B revenue, 19%-21% EBITDA margin) due to muted North American residential construction and cost increases.
Price
$62.29 −1.64% · −$1.04
Performance −17.2% 1Y
1Y: $75.25 on 17 Oct 2025 → $62.29. High $123.39 (7 Apr 2026), low $56.38 (20 Nov 2025).
- Previous close
- $63.33
- 52-week range
- $56.38 – $123.39
- One year
- −17.38%
Overview
- Symbol
- WLK
- Sector
- Materials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
7 of 7 judged targets kept · 19 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| 3-pillar profitability improvement plan total 2026 EBITDA benefit | $600 million | Dec 2025 | We continue to target $600 million of combined EBITDA benefit in 2026 from our profitability improvement plan. | On Track |
| Epoxy segment return to profitability | return to profitability in 2026 | Jun 2025 | Our footprint optimization actions significantly reduced PEMs fixed cost and returned our Epoxy business to profitability for the first time since 2023. | Achieved |
Claimed
- Net sales of $3.3 billion, a substantial improvement from Q1 FY26 and Q2 FY25.
- EBITDA of $679 million, a substantial improvement from Q1 FY26 and Q2 FY25.
- 3-pillar profitability improvement plan contributed approximately $150 million to year-over-year EBITDA improvement in Q2 FY26, tracking ahead of plan.
- HIP segment achieved 6% year-over-year organic sales volume growth, leading to stable segment EBITDA despite soft residential construction.
- PEM's average sales price increased 21% sequentially, benefiting from higher oil prices and North American feedstock advantage, driving higher margins.
Qualified
- HIP EBITDA margin declined to 22% from 24% in Q2 FY25, driven by lower average sales price and inflation in transportation and raw material costs.
- HIP expects Q3 pipe sales volumes to be modestly impacted by a pull-forward of orders into Q2 FY26 due to customers securing supply.
- HIP's 2026 revenue and EBITDA margin guidance lowered to the lower end of previously communicated ranges ($4.4B-$4.6B revenue, 19%-21% EBITDA margin) due to muted North American residential construction and cost increases.
The full ledger
Open WESTLAKE CORP’s full ledger
A free account opens 5 company ledgers a month. All 26 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 5, 2026
Westlake Corporation Q1 FY26 — Middle East Conflict Drives PEM Sales and Margin Expansion
Read the full callDec 2025 (Q4 FY25) — Feb 24, 2026
Westlake Q4 FY25 — Strategic Restructuring and Cost Reduction Drive Future Profitability
Read the full callEvery analysed call
Westlake earnings calls (WLK)
Financials
What the filings say
Net profit, year on year: +283% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 3,117 | 2,843 | 2,846 | 2,953 | 2,838 | 2,533 | 2,652 | 3,271 |
| Operating profit | 180 | 66 | -32 | -109 | -766 | -671 | -172 | 364 |
| Operating margin | 5.8% | 2.3% | −1.1% | −3.7% | −27.0% | −26.5% | −6.5% | 11.1% |
| Other income | 44 | 69 | 37 | 24 | 32 | 59 | 38 | 29 |
| Interest | 39 | 39 | 39 | 40 | 41 | 51 | 56 | 55 |
| Profit before tax | 185 | 96 | -34 | -125 | -775 | -663 | -190 | 338 |
| Tax rate | 35.1% | 80.2% | −2.9% | −4.8% | 0.4% | 19.6% | 17.4% | 19.8% |
| Net profit | 108 | 7 | -40 | -142 | -782 | -544 | -169 | 260 |
| EPS ($ per share) | 0.84 | — | -0.31 | -1.11 | -6.06 | — | -1.31 | 2.02 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Reserves | 5,477 | 5,757 | 5,938 | 7,808 | 9,885 | 10,143 | 10,481 | 8,701 |
| Total liabilities | 5,526 | 6,858 | 7,257 | 9,931 | 10,085 | 10,271 | 9,707 | 10,666 |
| Fixed assets | 6,595 | 6,912 | 6,920 | 7,606 | 8,477 | 8,519 | 8,633 | 8,605 |
| Total assets | 11,602 | 13,261 | 13,835 | 18,459 | 20,550 | 21,035 | 20,750 | 19,961 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,409 | 1,301 | 1,297 | 2,394 | 3,395 | 2,336 | 1,314 | 465 |
| Cash from investing | -754 | -1,954 | -509 | -3,213 | -2,479 | -1,037 | -1,001 | -1,223 |
| Cash from financing | -1,427 | 630 | -216 | 1,437 | -587 | -245 | -650 | 530 |
| Net cash flow | -779 | -25 | 587 | 604 | 305 | 1,073 | -384 | -195 |
| Capital expenditure | -702 | -787 | -525 | -658 | -1,108 | -1,034 | -1,008 | -995 |
| Free cash flow | 707 | 514 | 772 | 1,736 | 2,287 | 1,302 | 306 | -530 |
WLK revenue by segment
Housing and Infrastructure Products grew from 35% to 38% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Performance and Essential Materials | 65% | 65% | 65% | 61% | 62% | 64% | 63% | 62% | +12.6% |
| Housing and Infrastructure Products | 35% | 35% | 35% | 39% | 38% | 36% | 37% | 38% | +7.9% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
58 filings between Dec 10, 2025 and Aug 11, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$10.19M
9 sales by 3 insiders
Compensation
not trading decisions- 8
- Award — granted as compensation
- 23
- Option exercise — converted options into shares
- 17
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 disposition to issuer.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Chao Albert | — | $6.13M | Aug 11, 2026 |
| Bender Mark Steven | — | $3.60M | Mar 27, 2026 |
| Buesinger Robert F. | — | $461.0K | Mar 27, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 11, 2026 | Chao Albert Executive Chairman | Option exercise | 38,873 | $2.40M |
| Aug 11, 2026 | Chao Albert Executive Chairman | Sale | 31,384 | $2.52M |
| Aug 11, 2026 | Chao Albert Executive Chairman | Sale | 7,489 | $596.9K |
| Aug 8, 2026 | Sheets Jeffrey Wayne Director | Option exercise | 2,168 | — |
| Aug 8, 2026 | Lubel Kimberly S Director | Option exercise | 2,168 | — |
| Aug 8, 2026 | Sabat Carolyn Chao Director | Option exercise | 2,168 | — |
| Aug 8, 2026 | Graff Michael J Director | Option exercise | 2,168 | — |
| Aug 8, 2026 | Chao Catherine T. Director | Option exercise | 2,168 | — |
| Aug 8, 2026 | NORTHCUTT R BRUCE Director | Option exercise | 2,168 | — |
| Aug 8, 2026 | CREGG ROGER A Director | Option exercise | 2,168 | — |
| Aug 8, 2026 | MCCOLLUM MARK A Director | Option exercise | 2,168 | — |
| Aug 8, 2026 | Chao David Tsung-Hung Director | Option exercise | 2,168 | — |
| May 13, 2026 | Bender Mark Steven EVP & CFO | Tax withheld | 5,284 | $514.3K |
| May 12, 2026 | Bender Mark Steven EVP & CFO | Option exercise | 13,164 | $0 |
| Mar 27, 2026 | Buesinger Robert F. EVP, PEM Segment Head | Sale | 4,000 | $461.0K |
| Mar 27, 2026 | Bender Mark Steven EVP & CFO | Sale | 16,413 | $1.85M |
| Feb 27, 2026 | Bender Mark Steven EVP & CFO | Disposition to issuer | 12,693 | $1.25M |
| Feb 27, 2026 | Bender Mark Steven EVP & CFO | Sale | 16,988 | $1.71M |
| Feb 27, 2026 | Bender Mark Steven EVP & CFO | Option exercise | 6,199 | $408.0K |
| Feb 27, 2026 | Bender Mark Steven EVP & CFO | Sale | 421 | $42.7K |
| Feb 27, 2026 | Bender Mark Steven EVP & CFO | Option exercise | 6,494 | $562.0K |
| Feb 20, 2026 | Bender Mark Steven EVP & CFO | Tax withheld | 445 | $41.9K |
| Feb 20, 2026 | Chao John Tsung-chen Director | Tax withheld | 91 | $8.6K |
| Feb 20, 2026 | Chao Albert Executive Chairman | Tax withheld | 2,501 | $235.3K |
| Feb 20, 2026 | Chao James Senior Chairman | Tax withheld | 1,569 | $147.6K |
| Feb 20, 2026 | Szwejbka Scott Thomas SVP, HIP Segment Head | Tax withheld | 91 | $8.6K |
| Feb 20, 2026 | Holy Jeffrey Adam VP and CAO | Tax withheld | 81 | $7.6K |
| Feb 20, 2026 | Ederington L. Benjamin EVP, Legal & External Affairs | Tax withheld | 357 | $33.6K |
| Feb 20, 2026 | Buesinger Robert F. EVP, PEM Segment Head | Tax withheld | 326 | $30.7K |
| Feb 19, 2026 | Buesinger Robert F. EVP, PEM Segment Head | Award | 1,301 | $0 |
| Feb 19, 2026 | Bender Mark Steven EVP & CFO | Award | 1,777 | $0 |
| Feb 19, 2026 | Chao Albert Executive Chairman | Award | 6,193 | $0 |
| Feb 19, 2026 | Chao John Tsung-chen Director | Award | 213 | $0 |
| Feb 19, 2026 | Szwejbka Scott Thomas SVP, HIP Segment Head | Award | 365 | $0 |
| Feb 19, 2026 | Ederington L. Benjamin EVP, Legal & External Affairs | Award | 1,425 | $0 |
| Feb 19, 2026 | Holy Jeffrey Adam VP and CAO | Award | 264 | $0 |
| Feb 19, 2026 | Chao James Senior Chairman | Award | 3,884 | $0 |
| Feb 18, 2026 | Ederington L. Benjamin EVP, Legal & External Affairs | Tax withheld | 978 | $96.8K |
| Feb 18, 2026 | Chao Albert Executive Chairman | Tax withheld | 5,089 | $503.6K |
| Feb 18, 2026 | Holy Jeffrey Adam VP and CAO | Tax withheld | 213 | $21.1K |
| Feb 18, 2026 | Buesinger Robert F. EVP, PEM Segment Head | Tax withheld | 903 | $89.4K |
| Feb 18, 2026 | Szwejbka Scott Thomas SVP, HIP Segment Head | Tax withheld | 295 | $29.2K |
| Feb 18, 2026 | Bender Mark Steven EVP & CFO | Tax withheld | 1,209 | $119.6K |
| Feb 18, 2026 | Chao John Tsung-chen Director | Tax withheld | 242 | $23.9K |
| Feb 18, 2026 | Chao James Senior Chairman | Tax withheld | 2,664 | $263.6K |
| Feb 17, 2026 | Ederington L. Benjamin EVP, Legal & External Affairs | Option exercise | 3,809 | $0 |
| Feb 17, 2026 | Chao John Tsung-chen Director | Option exercise | 570 | $0 |
| Feb 17, 2026 | Chao Albert Executive Chairman | Option exercise | 16,555 | $0 |
| Feb 17, 2026 | Buesinger Robert F. EVP, PEM Segment Head | Option exercise | 3,478 | $0 |
| Feb 17, 2026 | Bender Mark Steven EVP & CFO | Option exercise | 4,751 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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