Westlake Corporation · NYSE:WLK
Westlake — Q1 2026 Earnings Presentation
15 slides from Westlake's earnings presentation, 2026
Slide 1: Earnings Presentation 1Q 2026
Earnings Presentation 1Q 2026 1
Slide 2: First Quarter 2026 Highlights
First Quarter 2026 Highlights 1Q 2026 Financial Results $2.7B $235M $2.5B Net Sales EBITDA(1,2) Cash, Equivalents and Investments(3) • Intra-quarter improvement in PEM’s average sales price with further realizations expected to benefit subsequent quarters as a result of a steepening of the global co
Slide 3: Westlake Corporation 1Q 2026
Westlake Corporation 1Q 2026 (1) ($ in millions) 1Q'26 4Q'25 QoQ% 1Q'25 YoY% Sales $2,652 $2,533 5% $2,846 (7%) Sequentially higher sales volume and average sales price driven by Operating Loss(1) ($87) ($160) N.M. ($25) N.M. seasonally higher HIP demand and improved export demand for PEM EBITDA(1,2
Slide 4: Housing and Infrastructure Products (HIP) Segment Performance
Housing and Infrastructure Products (“HIP”) Segment Performance(1) Continued strong YoY Pipe & Fittings ($ in millions) 1Q'26 4Q'25 QoQ% 1Q'25 YoY% sales volume growth from strong infrastructure spending growth, Housing Products Sales $788 $767 3% $838 (6%) including increasing demand to supply Infr
Slide 5: Housing and Infrastructure Products Update
Housing and Infrastructure Products Update 1 Longer-term housing fundamentals remain strong due to decade-plus of under-building, increasingly favorable demographics and popularity of remote work 2 Our 2026 outlook for exterior building products sales volume reflects the slow start to the homebuildi
Slide 6: Performance and Essential Materials (PEM) Segment Performance
Performance and Essential Materials (“PEM”) Segment Performance(1) Sequentially higher average sales price as a result of olefins, ($ in millions) 1Q'26 4Q'25 QoQ% 1Q'25 YoY% polyethylene and caustic soda price increases Performance Materials Sales $1,003 $930 8% $1,056 (5%) Essential Materials Sale
Slide 7: Performance and Essential Materials Update
Performance and Essential Materials Update 1 Energy and feedstock advantages in North America (~85% of our production capacity) and our high degree of vertical integration relative to the global industry positions us to benefit from the steepening global cost curve and serve our customers well 2 Fol
Slide 8: Financial Reconciliations
Financial Reconciliations 8
Slide 9: Consolidated Statements of Operations
Consolidated Statements of Operations Three months ended Three months ended March 31, December 31, 2026 2025 2025 (In millions of dollars, except per share data) Housing and Infrastructure Products Sales $ 993 $ 996 $ 901 Performance and Essential Materials Sales 1,659 1,850 1,632 Net sales 2,652 2,
Slide 10: Reconciliation of Net Loss and Loss Per Diluted Share excl. Identified Items
Reconciliation of Net Loss Attributable to Westlake Corporation and Loss Per Diluted Share to Net Loss and Diluted Loss Per Share excl. Identified Items Three months ended Three months ended March 31, December 31, 2026 2025 2025 (In millions of dollars, except per share data) Net loss $ (157) $ (35)
Slide 11: Reconciliation of EBITDA excl. Identified Items to EBITDA, Net Loss
Reconciliation of EBITDA excl. Identified Items to EBITDA, Net Loss, Loss from Operations and Net Cash Provided by (Used for) Operating Activities Three months ended Three months ended March 31, December 31, 2026 2025 2025 (In millions of dollars) Net cash provided by (used for) operating activities
Slide 12: Reconciliation of HIP, PEM and Corporate EBITDA to Operating Income (Loss)
Reconciliation of HIP EBITDA excl. Identified Items, PEM EBITDA excl. Identified Items and Corporate EBITDA to Operating Income (Loss) Three months ended Three months ended March 31, December 31, 2026 2025 2025 (In millions of dollars) Housing and Infrastructure Products EBITDA excl. Identified Item
Slide 13: Reconciliation of Free Cash Flow to Net Cash from Operating Activities
Reconciliation of Free Cash Flow to Net Cash Provided by (Used for) Operating Activities Three months ended Three months ended March 31, December 31, 2026 2025 2025 (In millions of dollars) Net cash provided by (used for) operating activities $ (94) $ (77) $ 225 Less: Additions to property, plant an
Slide 14: 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 15: Westlake
Vestlake