Description

Westlake Corporation: 10% HIP Volume Growth Offsets Housing Weakness!

Westlake Corporation reported first quarter 2026 net sales of $2.7 billion and an EBITDA of $235 million, supported by supply chain responsiveness, cost management, and execution of a three-pillar profitability improvement plan anticipated to deliver $600 million in EBITDA uplift for the year. The company’s results excluded $85 million of identified items related to legal settlements and prior-year plant shutdown expenses. The Performance and Essential Materials (PEM) segment faced headwinds early in the quarter from lower sales prices and soft industrial demand but saw significant improvement in March due to supply disruptions caused by the Middle East conflict. This geopolitical event disrupted global polyethylene by 10-15%, PVC resin by about 5%, and oil supply by 20%, raising feedstock costs globally and prompting customers to seek North American suppliers like Westlake. PEM posted $1.7 billion in sales and $36 million in EBITDA, with 3% sequential volume growth excluding shutdown impacts.