WESTLAKE CORP reported first quarter 2026 results: revenue $2,652, net income Net loss attributable to Westlake Corporation $ (169), EPS Diluted loss per common share $ (1.31).
“except per share data and percentages) Three Months Ended March 31, 2026 Three Months Ended December 31, 2025 Three Months Ended March 31, 2025 Westlake Corporation Net sales $ 2,652 $ 2,533 $ 2,846 Loss from operations $ (172) $ (671) $ (32) Net loss attributable to Westlake Corporation $ (169) $ (544) $ (40) Diluted loss per common share $ (1.31) $ (4.22) $”
Debt Financings
WESTLAKE CORP incurred revolving credit of $1.5 billion with JPMorgan Chase Bank, National Association, as administrative agent, and the lenders from time to time party thereto at Term SOFR rate plus a spread ranging from 1.000% to 1.625% or ABR plus a spread maturing April 2, 2031.
“On April 2, 2026, Westlake Corporation (“ Westlake ”) entered into a credit agreement (the “ Credit Agreement ”), by and among Westlake, the lenders from time to time party thereto (collectively, the “ Lenders ”), the issuing banks party thereto and JPMorgan Chase Bank, National Association, as administrative agent. Under the Credit Agreement, the Lenders have committed to provide an unsecured revolving credit facility in an aggregate principal amount of up to $1.5 billion.”
Material Agreements
WESTLAKE CORP terminated Previous Credit Agreement with JPMorgan Chase Bank, National Association, as administrative agent (effective 2026-04-02).
“On April 2, 2026, Westlake Corporation (“ Westlake ”) entered into a credit agreement (the “ Credit Agreement ”), by and among Westlake, the lenders from time to time party thereto (collectively, the “ Lenders ”), the issuing banks party thereto and JPMorgan Chase Bank, National Association, as administrative agent. Under the Credit Agreement, the Lenders have committed to provide an unsecured revolving credit facility in an aggregate principal amount of up to $1.5 billion.”
Material Agreements
WESTLAKE CORP entered into Credit Agreement with JPMorgan Chase Bank, National Association, as administrative agent valued at up to $1.5 billion (effective 2026-04-02).
“On April 2, 2026, Westlake Corporation (“ Westlake ”) entered into a credit agreement (the “ Credit Agreement ”), by and among Westlake, the lenders from time to time party thereto (collectively, the “ Lenders ”), the issuing banks party thereto and JPMorgan Chase Bank, National Association, as administrative agent.”
Restructurings & Charges
WESTLAKE CORP announced a restructuring with charges of approximately $415 million affecting North American chlorovinyl production facilities and styrene production plant (approximately 295 employees).
“The closures of the facilities are expected to result in a workforce reduction of approximately 295 employees. The Company expects it will incur total pre-tax costs of approximately $415 million related to the closures of the facilities consisting of noncash accelerated depreciation, amortization, and asset write-off charges of approximately $357 million, employee severance and separation costs of approximately $25 million, and other plant shut down costs of approximately $33 million.”
Restructurings & Charges
WESTLAKE CORP announced a restructuring with charges of approximately EUR 190 million affecting Pernis facility (approximately 230 employees).
“On June 17, 2025, the Company notified the affected employees at the Pernis facility of the Company's plan. The anticipated closure of the entire Pernis facility would take place after the conclusion of the consultations with local works councils and unions. In addition to the previous charges related to the July 2024 mothballing, the Company expects it would incur total pre-tax costs of approximately EUR 190 million related to the closure of the Pernis facility.”
Albert Chao changed role as Executive Chairman at WESTLAKE CORP.
“On August 8, 2024, the Compensation Committee of the Board of Directors (the “Board”) of Westlake Corporation (the “Company”) approved the following changes to the compensation of Albert Chao in connection with Mr. Chao’s transition from President and Chief Executive Officer of the Company to Executive Chairman of the Board.”
Albert Chao changed role as Executive Chairman of the Board at WESTLAKE CORP.
“Albert Chao, formerly the President, Chief Executive Officer and Director of the Company, transitioned to the position of Executive Chairman of the Board.”
Jean-Marc Gilson was appointed as President and Chief Executive Officer at WESTLAKE CORP.
“Jean-Marc Gilson was appointed as the President and Chief Executive Officer of the Company.”
Marius A. Haas resigned as Director at WESTLAKE CORP.
“On May 22, 2024, Marius A. Haas informed Westlake Corporation (the “Company”) of his decision to resign from the Board of Directors of the Company in order to focus on BayPine Capital, a private equity investment company of which he is a founding partner.”
Shareholder Votes
WESTLAKE CORP shareholders rejected Stockholder proposal regarding the preparation of a report on reducing plastic pollution of the oceans at the 2024-05-09 meeting.
“Stockholder proposal regarding the preparation of a report on reducing plastic pollution of the oceans 8,342,046 117,336,415 108,360 1,137,576”
Earnings Releases
WESTLAKE CORP reported first quarter 2024 results: revenue $2,975, net income $174, EPS $1.34.
“except per share data and percentages) Three Months Ended March 31, 2024 Three Months Ended December 31, 2023 Three Months Ended March 31, 2023 Westlake Corporation Net sales $ 2,975 $ 2,826 $ 3,356 Income (loss) from operations $ 223 $ (552) $ 536 Net income (loss) attributable to Westlake Corporation $ 174 $ (497) $ 394 Diluted earnings (loss) per common”
Johnathan Zoeller changed role as Vice President and Treasurer at WESTLAKE CORP.
“Mr. Holy transitioned to the position of Vice President, Chief Accounting Officer from his prior role as Vice President and Treasurer. Mr. Zoeller transitioned to the position of Vice President and Treasurer from his prior role as Vice President, Chief Accounting Officer.”
Jeff Holy changed role as Vice President, Chief Accounting Officer at WESTLAKE CORP.
“Mr. Holy transitioned to the position of Vice President, Chief Accounting Officer from his prior role as Vice President and Treasurer. Mr. Zoeller transitioned to the position of Vice President and Treasurer from his prior role as Vice President, Chief Accounting Officer.”
Earnings Releases
WESTLAKE CORP reported fourth quarter and full year 2023 results: revenue $2,826 million, net income a net loss of $497 million, EPS $3.86 per share.
“Items) For the three months ended December 31, 2023, the Company reported quarterly net income attributable to Westlake of $93 million, or $0.72 per share, on net sales of $2,826 million. The year-ove”
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