Every material Form 8-K Westlake has filed with the SEC since May 02, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Westlake reported third-quarter 2026 net sales of $2.98 billion, up from $2.84 billion a year earlier, and GAAP net income of $6 million, or $0.05 per diluted share. Excluding identified items, mainly $56 million of charges tied to facility shutdowns, net income was $58 million, or $0.45 per share, compared with a loss of $0.29 per share a year earlier. Results fell sharply from the second quarter, when EBITDA excluding identified items was $679 million, and the company announced the closure of its Cologne, Germany PVC plant.
Net sales $2.98 billion vs. $2.84 billion in Q3 2025 and $3.27 billion in Q2 2026.
GAAP net income $6 million ($0.05 per share); excluding identified items $58 million ($0.45 per share).
EBITDA excluding identified items $408 million, up from $313 million a year earlier but down from $679 million in Q2 2026.
Free cash flow $220 million in the quarter; cash and investments $2.0 billion at September 30, 2026.
Westlake approved a plan to cease operations at its 165,000-metric-ton-a-year PVC plant in Cologne, Germany, with closure expected in the first quarter of 2027 and about 120 jobs affected. The company expects total pre-tax charges of about $205 million, and said it expects sequentially lower financial performance in the third quarter of 2026 than in the second quarter.
Total pre-tax closure charges of about $205 million: about $105 million non-cash and about $100 million cash
About $110 million of the charges expected to be recorded in 2026, with the remainder in 2027
Production to shift to other German sites, including the recently acquired Wilhelmshaven facility
Westlake expects sequentially lower third-quarter 2026 financial performance versus the second quarter
Westlake named Tommy E. Darby, 45, as Vice President and Chief Accounting Officer, effective immediately, succeeding Jeffrey A. Holy, who moves to Vice President, Finance and Investor Relations. The filing describes a routine officer change with a standard pay package, and it does not report any financial results or changes to company guidance.
Darby previously was Vice President and Chief Accounting Officer at Pactiv Evergreen (now Novolex) from August 2022 to April 2025
Pay includes a $440,000 annual salary, a 45% annual incentive target, and a 90% long-term incentive target
Sign-on restricted stock units have a total grant date fair value of $135,000 and fully vest on August 31, 2029
Westlake reported second quarter 2026 net sales of $3.3 billion and net income attributable to the company of $260 million, or $2.01 per diluted share, compared with a net loss of $142 million in the same quarter of 2025. The company said higher polyethylene and PVC resin prices in its Performance and Essential Materials segment and its profitability improvement plan drove the gain, and that it retired $500 million of senior notes.
Net sales were $3,271 million, up from $2,953 million in the second quarter of 2025.
Diluted EPS was $2.01, compared with a loss of $1.11 per share a year earlier and a loss of $1.31 in the first quarter of 2026.
EBITDA excluding identified items was $679 million, versus $340 million in the second quarter of 2025.
The company redeemed about $500 million of 3.60% 2026 Senior Notes and reported cash, investments and fixed-income securities of $1.9 billion and total debt of $5.1 billion as of June 30, 2026.
Westlake reported a first-quarter 2026 net loss of $169 million, or $1.31 per share, on net sales of $2.7 billion, compared with a $40 million loss a year earlier. Excluding $85 million of identified items, including a $67 million litigation settlement, the loss was $100 million, or $0.77 per share, versus $0.26 a year earlier, and EBITDA excluding those items was $235 million, down from $295 million. Management said it expects higher PEM margins through at least summer 2026 and remains on track for a $600 million 2026 EBITDA uplift from its profitability plan.
Net sales were $2.7 billion, down from $2.8 billion in the first quarter of 2025 but up from $2.5 billion in the fourth quarter of 2025.
Net loss excluding identified items was $100 million, or $0.77 per share, compared with $131 million, or $1.02 per share, in the fourth quarter of 2025.
Operating cash flow was negative $94 million, and free cash flow was negative $303 million for the quarter.
Management said it expects a meaningful benefit to PEM margins through at least the summer of 2026, and reiterated its $600 million 2026 EBITDA uplift target.
Westlake Corporation appointed Jonathan H. Baksht as Senior Vice President and Chief Financial Officer, effective June 15, 2026, succeeding M. Steven Bender, who will retire by the end of 2026. Baksht previously served as CFO of Fortune Brands Innovations, Inc. from May 2025 to March 2026, and the change in the company's top finance role is a significant leadership transition for shareholders to monitor.
Baksht takes the CFO role effective June 15, 2026; Bender moves to Special Advisor to the President on that date and retires by year-end.
Baksht receives a $200,000 sign-on cash award and RSUs with a total grant date fair value of $1,800,000, vesting fully on June 15, 2029.
Baksht's 2026 base pay is $832,000, with a 90% target annual bonus and a 275% long-term incentive target.
Baksht previously was CFO of Pactiv Evergreen Inc. (2022 to 2025) and Valaris Limited (2015 to 2021).
On April 2, 2026, Westlake entered into a new $1.5 billion unsecured revolving credit facility led by JPMorgan Chase Bank as administrative agent, which replaced its previous $1.5 billion revolver dated June 9, 2022. The company said it incurred no costs or penalties to terminate the old facility, and the new facility matures on April 2, 2031. The filing describes a refinancing of the same facility size rather than new borrowing, with pricing that varies with Westlake's credit rating.
New $1.5 billion unsecured revolving credit facility, maturing April 2, 2031
Replaces previous $1.5 billion facility dated June 9, 2022, terminated April 2, 2026
Borrowing spread of 1.000% to 1.625% over Term SOFR, varying with credit rating
No costs or penalties incurred to terminate the previous credit agreement
Westlake said Executive Vice President Robert F. Buesinger, who leads the Performance & Essential Materials segment, is retiring and moving to a Special Advisor role to the President effective April 2, 2026. The board named Brian Powers as Senior Vice President and segment head on the same date, so the segment leadership changes hands without a stated gap.
Robert F. Buesinger moves from Executive Vice President to Special Advisor to the President, effective April 2, 2026
Brian Powers appointed Senior Vice President, Performance & Essential Materials Segment Head, effective April 2, 2026
Westlake reported a fourth-quarter 2025 net loss of $544 million, or $4.22 per share, compared with net income of $7 million, or $0.06 per share, a year earlier. Excluding $511 million of identified items, mainly plant shutdown expenses, the loss was $33 million, or $0.25 per share, and EBITDA was $196 million versus $416 million a year earlier. Management said it expects 2026 earnings to improve, targeting $600 million of EBITDA benefit from its PEM profitability plan.
Q4 2025 net sales were $2.5 billion, down 11% year over year, with sales volume down 7% and average sales price down 4%.
Q4 2025 net loss was $544 million, or $4.22 per share; excluding identified items, the loss was $33 million, or $0.25 per share.
Full-year 2025 net loss was $1.5 billion, or $11.70 per share, including a $727 million goodwill write-off; excluding identified items, the loss was $116 million, or $0.90 per share.
Management targets $600 million of EBITDA improvement in 2026 from the PEM profitability plan, and cites the January 2026 acquisition of ACI.
Westlake Corporation said Chief Financial Officer M. Steven Bender intends to retire, effective when a successor is appointed; the filing does not name a successor. The board also expanded to fourteen members and elected former LyondellBasell CEO Bhavesh V. "Bob" Patel and CEO Jean-Marc Gilson as directors, which changes board composition and management's board representation.
Bender notified the company on February 19, 2026 of his intention to retire as Executive Vice President and Chief Financial Officer, effective upon appointment of his successor
Board increased to fourteen members and elected Patel and Gilson on February 20, 2026
Patel received a restricted stock unit grant with an aggregate grant date fair value of $175,000, vesting February 20, 2027
Gilson, the company's President and CEO, will receive no additional compensation for board service and serves a term expiring at the 2026 annual meeting
Westlake approved plans to shut its PVC plant in Aberdeen, Mississippi, a VCM plant and one chlor-alkali unit in Lake Charles, Louisiana, and its styrene plant in Lake Charles, with cessations expected in December 2025 and about 295 jobs affected. The company expects total pre-tax costs of about $415 million, mostly noncash charges, with a substantial portion recognized in the fourth quarter of 2025, which will weigh on reported results even as the company projects lower annual costs and higher cash flow from 2026.
Cessation of operations expected in December 2025; workforce reduction of about 295 employees.
Total pre-tax costs of about $415 million: about $357 million noncash, about $25 million severance, and about $33 million plant shutdown costs.
Investor slides expect an annual EBITDA improvement of about $100 million and free cash flow savings of about $175 million in 2026.
Company says cash outflows will continue over several years and may disclose additional charges later.
Westlake Corporation agreed to sell $600 million of 5.550% senior notes due 2035 and $600 million of 6.375% senior notes due 2055, with closing expected November 6, 2025. The company expects net proceeds of about $1.185 billion, which it plans to use mainly to repurchase its $750 million of 3.600% senior notes due 2026, with any remainder going to the pending ACI Acquisition and general corporate purposes.
Two tranches total $1.2 billion: $600 million of 5.550% notes due November 15, 2035 and $600 million of 6.375% notes due November 15, 2055
Expected net proceeds of approximately $1.185 billion before offering expenses
Proceeds intended first to fund a concurrent tender offer for the $750 million of 3.600% senior notes due 2026 outstanding as of September 30, 2025
Remaining proceeds may fund the pending ACI/Perplastic Group compounding solutions acquisition and general corporate purposes
Westlake reported a third-quarter 2025 net loss of $782 million, or $6.06 per share, including a non-cash $727 million charge to write off all goodwill tied to its North American Chlorovinyls unit. Excluding identified items, the net loss was $38 million, or $0.29 per share, compared with net income of $108 million, or $0.83 per share, a year earlier. Shareholders face weaker sales and profit, and the company says cost savings and a plant shutdown should help margins in 2026.
Net sales were $2.8 billion, down from $3.1 billion in the third quarter of 2024.
EBITDA excluding identified items was $313 million, compared with $580 million a year earlier.
Identified items included the $727 million goodwill impairment and $17 million of accrued shutdown expenses.
Management expects about $200 million of cost savings in 2026 and about $100 million of annual losses removed from the Pernis shutdown starting in 2026.
Westlake reported a second-quarter 2025 net loss of $142 million, or $1.11 per diluted share, compared with net income of $313 million, or $2.40 per share, a year earlier. Net sales fell to $2.95 billion from $3.21 billion, and the results include $130 million of charges tied to closing the Pernis facility in The Netherlands and pausing a PVC unit in China. Excluding these items, the net loss was $12 million, or $0.09 per share, and the company expanded its cost-reduction target to an additional $200 million by 2026.
Net sales of $2,953 million in Q2 2025, down from $3,207 million in Q2 2024 but up from $2,846 million in Q1 2025.
Net loss of $142 million, or $1.11 per diluted share; excluding $130 million of identified items, net loss was $12 million, or $0.09 per share.
EBITDA excluding identified items was $340 million, compared with $744 million in Q2 2024 and $288 million in Q1 2025.
Cost-reduction target expanded to an additional $200 million of reductions by 2026, on top of a 2025 target of $150 million to $175 million.
Westlake said it began consultations with works councils on June 13, 2025, over ceasing operations at its entire Pernis, Netherlands, facility in 2025, citing continued deterioration of its European business. The company expects total pre-tax closure costs of about EUR 190 million and a further workforce reduction of about 230 employees, with a charge for substantially all of these costs in the second quarter of 2025. Cash outflows will continue for several years after closure, and the amount and timing of some costs remain uncertain, so shareholders face a large near-term charge and continuing spending.
Plan to cease operations at the entire Pernis facility in 2025, subject to consultations with works councils and unions; employees were notified on June 17, 2025.
Expected pre-tax costs of about EUR 190 million: about EUR 30 million for employee severance and separation and about EUR 160 million for environmental remediation and plant shutdown.
About 230 additional employees expected to be affected by the closure.
Charge for substantially all costs expected in the second quarter of 2025; Deer Park, Texas will continue supplying LER and BPA customers.
Westlake reported a first-quarter 2025 net loss of $40 million, or $0.31 per diluted share, on net sales of $2.8 billion, compared with net income of $174 million, or $1.34 per share, a year earlier. EBITDA fell to $288 million from $546 million, driven by higher North American feedstock and energy costs and planned and unplanned plant outages. The company also said 2025 Housing and Infrastructure Products revenue and EBITDA margin are now expected toward the low ends of prior ranges, and it cut its 2025 capital spending target by 10% to $900 million.
Q1 2025 net loss of $40 million ($0.31 per diluted share) versus net income of $174 million ($1.34 per share) in Q1 2024
EBITDA of $288 million, down from $546 million a year earlier; PEM segment EBITDA was $73 million versus $253 million
2025 HIP revenue expected toward the low end of $4.4 billion to $4.6 billion, and EBITDA margin toward the low end of 20% to 22%
2025 capital spending target reduced 10% to $900 million; cash, equivalents and fixed income investments of $2.5 billion as of March 31, 2025
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