Westlake Corporation · NYSE:WLK
Westlake — Q2 2025 Earnings Presentation
16 slides from Westlake's earnings presentation, Aug 5, 2025
Slide 1: Earnings Presentation 2Q 2025
Earnings Presentation 2Q 2025 1
Slide 2: Second Quarter 2025 Highlights
Second Quarter 2025 Highlights Solid HIP results provide stability PEM profitability improvement strategy in place 2Q 2025 Financial Results $3.0B $340M $2.3B Net Sales EBITDA(1,2) Cash, Equivalents and Investments(3) • Strong QoQ growth in HIP sales volume and EBITDA driven by a seasonal uptick in
Slide 3: Westlake Corporation 2Q 2025
Westlake Corporation 2Q 2025 Sales volume growth of 1% QoQ ($ in millions) 2Q'25 1Q'25 QoQ% 2Q'24 YoY% driven by stronger seasonal demand in our HIP segment Sales $2,953 $2,846 4% $3,207 (8%) Operating Income (Loss)(1) $21 ($32) N.M. $406 (95%) EBITDA(1,2 ) Solid 2% QoQ increase in average Housing a
Slide 4: Housing and Infrastructure Products ("HIP") Segment Performance
Housing and Infrastructure Products (“HIP”) Segment Performance Strong 14% sequential sales volume growth driven by a seasonal uptick in ($ in millions) 2Q'25 1Q'25 QoQ% 2Q'24 YoY% Building Products and Pipe & Fittings $980 $838 17% $1,010 (3%) demand Housing Products Sales Infrastructure Products S
Slide 5: Housing and Infrastructure Products Update
Housing and Infrastructure Products Update 1 U.S. single-family housing starts and residential construction spending are trending below prior year levels as a result of elevated mortgage interest rates and the impact to consumer confidence from uncertainty created by tariffs 2 2Q’25 EBITDA(1) of $27
Slide 6: HIP At-a-Glance: Diverse Portfolio with Broad Market Exposure
HIP At-a-Glance: Diverse Portfolio with Broad Market Exposure In Which Every Piece Matters $4.2B HIP Total Revenue(1) $3.6B Westlake Royal Building Products’ revenue, Housing which is all Housing-related, comprises Siding, Trim, & Shutters • Premium housing siding approximately half of HIP’s annual
Slide 7: Performance and Essential Materials ("PEM") Segment Performance
Performance and Essential Materials (“PEM”) Segment Performance(1) Pernis facility closure is expected to result in a significant improvement in ($ in millions) 2Q'25 1Q'25 QoQ% 2Q'24 YoY% segment profitability going forward Performance Materials Sales $1,022 $1,056 (3%) $1,177 (13%) Essential Mater
Slide 8: Performance and Essential Materials Update
Performance and Essential Materials Update 1 Implementing PEM profitability improvement strategy focused on: 1) Improving plant reliability; 2) Reducing costs to improve global competitiveness; and 3) Optimizing manufacturing footprint 2 PEM segment profitability is expected to improve significantly
Slide 9: Financial Reconciliations
Financial Reconciliations 9 9
Slide 10: Consolidated Statements of Operations
Consolidated Statements of Operations Three months ended Three months ended June 30, Six months ended June 30, March 31, 2025 2024 2025 2025 2024 (In millions of dollars, except per share data) Housing and Infrastructure Products Sales $ 1,160 $ 1,194 $ 996 $ 2,156 $ 2,238 Performance and Essential
Slide 11: Reconciliation of Net Income Attributable to Westlake Corporation and Earnings Per Diluted Share
Reconciliation of Net Income Attributable to Westlake Corporation and Earnings Per Diluted Share to Net Income and Diluted Earnings Per Share excl. Identified Items Three months ended Three months ended June 30, Six months ended June 30, March 31, 2025 2024 2025 2025 2024 (In millions of dollars, ex
Slide 12: Reconciliation of EBITDA excl. Identified Items
Reconciliation of EBITDA excl. Identified Items to EBITDA, Net Income, Income from Operations and Net Cash Provided by Operating Activities Three months ended Three months ended June 30, Six months ended June 30, March 31, 2025 2024 2025 2025 2024 (In millions of dollars) Net cash provided by (used
Slide 13: Reconciliation of PEM EBITDA excl. Identified Items
Reconciliation of PEM EBITDA excl. Identified Items, HIP EBITDA and Corporate EBITDA to Operating Income (Loss) Three months ended Three months ended June 30, March 31, Six months ended June 30, 2025 2024 2025 2025 2024 (In millions of dollars) Housing and Infrastructure Products EBITDA $ 275 $ 336
Slide 14: Reconciliation of Free Cash Flow
Reconciliation of Free Cash Flow to Net Cash Provided by Operating Activities Three months ended Three months ended June 30, Six months ended June 30, March 31, 2025 2024 2025 2025 2024 (In millions of dollars) Net cash provided by (used for) operating activities $ 135 $ 237 $ (77) $ 58 $ 406 Less:
Slide 15: Safe Harbor Language
Safe Harbor Language This presentation contains certain forward-looking statements including statements regarding our cost savings objectives and our ability to maintain synergies, pricing and demand for our products and across the industrial and manufacturing sectors, global macroeconomic condition
Slide 16: Westlake
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