Westlake posts Q1 net loss of $169 million, or $1.31 a share, as sales fall from a year earlier
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.
Key points
- 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.
The filing
Written by AI on Nov 8, 2026, 1:17 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 05, 2026.
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