WLK

EX-99.1

2 ex991_20260630earningsrele.htm

EX-99.1

Document

EXHIBIT 99.1

WESTLAKE CORPORATION

Contact—(713) 960-9111

Investors—Jonathan Baksht

Media—L. Benjamin Ederington

Westlake Corporation Reports Second Quarter 2026 Results

•Significant improvement in net income and EBITDA from the prior quarter and prior year levels

•Three-pillar profitability improvement plan on track to deliver a $600 million operating income benefit

•Reduced debt by $500 million and returned $99 million to shareholders via dividends and share repurchases

HOUSTON, Aug. 04, 2026 (GLOBE NEWSWIRE) --Westlake Corporation (NYSE: WLK) (the "Company" or "Westlake") today announced second quarter 2026 results.

i

SUMMARY FINANCIAL HIGHLIGHTS (in millions of dollars, except per share data and percentages)

Three Months Ended June 30, 2026Three Months Ended March 31, 2026Three Months Ended June 30, 2025

Westlake Corporation

Net sales$3,271$2,652$2,953

Income (loss) from operations$364$(172)$(109)

Net income (loss) attributable to Westlake Corporation$260$(169)$(142)

Diluted earnings (loss) per common share $2.01$(1.31)$(1.11)

Identified Items (1) $—$85$130

Net income (loss) attributable to Westlake Corporation excl. Identified Items$260$(100)$(12)

Diluted earnings (loss) per common share excl. Identified Items$2.01$(0.77)$(0.09)

EBITDA$679$150$210

EBITDA excl. Identified Items$679$235$340

EBITDA margin (2) 21%9%12%

Housing and Infrastructure Products ("HIP") Segment

Net sales$1,252$993$1,160

Income from operations$212$56$222

EBITDA$276$118$275

Identified Items (1) $—$68$—

EBITDA excl. Identified Items$276$186$275

EBITDA margin (2) 22%19%24%

Performance and Essential Materials ("PEM") Segment

Net sales$2,019$1,659$1,793

Income (loss) from operations$185$(211)$(318)

EBITDA$416$19$(78)

Identified Items (1) $—$17$130

EBITDA excl. Identified Items$416$36$52

EBITDA margin (2) 21%2%3%

(1)For the three months ended March 31, 2026, Identified Items include a $67 million charge to settle certain litigation involving direct purchasers of PVC pipe and fittings and $18 million of charges related to previously announced facility shutdowns. For the three months ended June 30, 2025, Identified Items represent $130 million of charges related to previously announced facility shutdowns.

(2)Excludes Identified Items.

BUSINESS HIGHLIGHTS

In the second quarter of 2026, Westlake reported net sales of $3.3 billion, net income of $260 million, or $2.01 per share, and EBITDA (earnings before interest expense, income taxes, depreciation and amortization) of $679 million. The Company's second quarter of 2026 financial results benefitted from a higher average sales price in our PEM segment, higher sales volume in our HIP segment, and our three-pillar profitability improvement plan.

Sales volume for Housing and Infrastructure Products in the second quarter increased 6% from the second quarter of 2025 (excluding the effect of the ACI acquisition) while Performance and Essential Materials sales volume increased 7% year-over-year (excluding the effect of plant shutdowns). Overall sales volume for the Company increased 7% from the second quarter of 2025.

ii

Housing and Infrastructure Products second quarter average sales price decreased 3% from the second quarter of 2025 while Performance and Essential Materials average sales price increased 14% year-over-year. Overall average sales price for the Company increased 8% from the second quarter of 2025.

In the second quarter of 2026, HIP's EBITDA margin decreased to 22% from 24% in the second quarter of 2025, while PEM's EBITDA margin, excluding Identified Items, increased to 21% from 3% over the same period of time.

EXECUTIVE COMMENTARY

"The significant improvement in PEM's second quarter earnings underscores its substantial leverage to improving global supply-demand fundamentals, driven in part by logistical disruptions in the Strait of Hormuz, as well as the meaningful actions that we took last year to improve PEM earnings through footprint optimization, cost reduction, and reliability improvement. Meanwhile, despite slower North American residential construction activity and accelerating raw material cost inflation, financial results in our HIP segment were solid in the second quarter with EBITDA growth that was driven by a double-digit increase in pipe & fittings sales volume. During the second quarter, we completed the acquisition of a PVC and VCM production site in Wilhelmshaven, Germany, which adds advantaged logistical assets into our European chlorovinyls business," said Jean‑Marc Gilson, President and Chief Executive Officer.

"The ongoing conflict in the Middle East continues to exacerbate volatility in selling prices and export demand across many of PEM's products, including polyethylene and PVC resin. Regardless of this impact, PEM's earnings should continue to benefit from our three-pillar profitability improvement plan and our globally ad

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported): February 24, 2026

Westlake Corporation (Exact name of registrant as specified in its charter)

Delaware001-3226076-0346924 (State or other jurisdiction of incorporation)(Commission File Number)(I.R.S. Employer Identification No.)

2801 Post Oak Boulevard,Suite 600 Houston,Texas77056 (Address of principal executive offices)(Zip Code)

Registrant's telephone number, including area code: (713) 960-9111

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, $0.01 par valueWLKThe New York Stock Exchange 1.625% Senior Notes due 2029WLK29The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

Item 2.02. Results of Operations and Financial Condition. On February 24, 2026, Westlake Corporation (the "Company") issued a press release announcing its 2025 fourth quarter and full year results. A copy of the press release is furnished with this Current Report as Exhibit 99.1. The information furnished pursuant to this Current Report, including Exhibit 99.1, shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any registration statement filed by Westlake Corporation under the Securities Act of 1933, as amended, unless specifically identified as being incorporated therein. Item 7.01. Regulation FD Disclosure. The Company is holding a conference call on February 24, 2026 to discuss its 2025 fourth quarter and full year results. Information about the call can be found in the press release furnished with this Current Report as Exhibit 99.1. In addition, the Company made available an investor presentation regarding its 2025 fourth quarter and full year results, which is furnished with this Current Report as Exhibit 99.2. Item 9.01. Financial Statements and Exhibits. (d) Exhibits The following exhibits are furnished herewith: 99.1    Press release issued on February 24, 2026. 99.2    Investor Presentation. 104    The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

WESTLAKE CORPORATION

Date:February 24, 2026By:/S/ JEAN-MARC GILSON

Jean-Marc Gilson

President, Chief Executive Officer and Director