---
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"
generated_at: "2026-06-19T06:31:33.222204+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Westlake reports record full-year 2022 sales but Q4 EPS drops 64% YoY to $1.79

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001262823-23-000008
- JSON: https://secwatch.observer/filing/0001262823-23-000008.json
- Plain text: https://secwatch.observer/filing/0001262823-23-000008.txt

## Key facts
- Earnings Releases
  WESTLAKE CORP reported the twelve months ended December 31, 2022 results: revenue $ 15,794, net income $ 2,247, EPS $ 17.34.
  - Period: the twelve months ended December 31, 2022
  - Revenue: $ 15,794
  - Net income: $ 2,247
  - EPS: $ 17.34
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1262823/000126282323000008/0001262823-23-000008-index.htm
- Earnings Releases
  WESTLAKE CORP reported the three months ended December 31, 2022 results: revenue $3,299 million, net income $232 million, EPS $1.79.
  - Period: the three months ended December 31, 2022
  - Revenue: $3,299 million
  - Net income: $232 million
  - EPS: $1.79
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1262823/000126282323000008/0001262823-23-000008-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.