{"schema_version":"secwatch.filing_event.v1","accession":"0001262823-23-000008","form_type":"8-K","ticker":"WLK","cik":"0001262823","company_name":"WESTLAKE CORP","filed_at":"2023-02-21T23:59:59+00:00","discovered_at":"2026-05-14T18:03:44.161536+00:00","generated_at":"2026-06-19T06:31:33.222204+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Westlake reports record full-year 2022 sales but Q4 EPS drops 64% YoY to $1.79","bullets":["Full-year 2022 net sales $15.8B (record), net income $2.25B, EBITDA $4.18B; Q4 net sales $3.3B, net income $232M.","Q4 diluted EPS $1.79 vs $4.98 in Q4 2021 and $3.10 in Q3 2022; driven by lower sales prices, volumes, and elevated energy costs.","PEM segment Q4 operating income $219M (-73% YoY); HIP segment $68M (-21% YoY) on lower volumes and destocking.","Free cash flow $538M in Q4, $2.29B for full year; cash $2.23B, debt $4.88B; targeting $55-$105M additional savings in 2023.","Management cautious on 2023: expects PEM to benefit from cost advantage, HIP to see slowing residential construction but modest R&R growth."],"urls":{"canonical":"https://secwatch.observer/filing/0001262823-23-000008","json":"https://secwatch.observer/filing/0001262823-23-000008.json","markdown":"https://secwatch.observer/filing/0001262823-23-000008.md","text":"https://secwatch.observer/filing/0001262823-23-000008.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1262823/000126282323000008/0001262823-23-000008-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1262823/000126282323000008/wlk-20230221.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-19T06:31:33.222204+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"38780012a62ca354244e893a41603401f73a529f","claim":"WESTLAKE CORP reported the twelve months ended December 31, 2022 results: revenue $ 15,794, net income $ 2,247, EPS $ 17.34.","evidence_excerpt":"Net sales $ 3,299 $ 3,507 $ 15,794 $ 11,778 Income from operations $ 327 $ 873 $ 3,050 $ 2,800 Net income attributable to Westlake Corporation $ 232 $ 644 $ 2,247 $ 2,015 Diluted earnings per common share $ 1.79 $ 4.98 $ 17.34 $ 15.58","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1262823/000126282323000008/0001262823-23-000008-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the twelve months ended December 31, 2022"},{"label":"Revenue","value":"$ 15,794"},{"label":"Net income","value":"$ 2,247"},{"label":"EPS","value":"$ 17.34"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"d1f956289a961bb5297f3e854537f51f052339ec","claim":"WESTLAKE CORP reported the three months ended December 31, 2022 results: revenue $3,299 million, net income $232 million, EPS $1.79.","evidence_excerpt":"For the three months ended December 31, 2022, the Company reported quarterly net income of $232 million, or $1.79 per share, on net sales of $3,299 million.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1262823/000126282323000008/0001262823-23-000008-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the three months ended December 31, 2022"},{"label":"Revenue","value":"$3,299 million"},{"label":"Net income","value":"$232 million"},{"label":"EPS","value":"$1.79"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}