Westlake Chemical Co.

Westlake announced the closure of its PVC plant in Cologne to optimize its presence in the European chlor‑vinyl business. The plant has an annual capacity of about 165,000 tonnes; the shutdown is expected in the first quarter of 2027. The company expects pre-tax charges of around $205 million (approximately $100 million cash, $105 million non‑cash), of which about $110 million will be recorded in 2026 and the remainder in 2027. Westlake plans to serve customers from other, lower‑cost German sites going forward and expects third‑quarter 2026 financial performance to be weaker than in second‑quarter 2026. » Mere på finanzen.net

Westlake reported earnings of USD 2.01 per share for Q2/2026 on revenue of USD 3.27 billion, beating consensus estimates. Net income rose to USD 260 million and EBITDA to USD 679 million, driven by better margins in PEM and a stable HIP business. Management reaffirmed its target of USD 600 million in EBITDA benefits from the profitability program for 2026; the stock reacted premarket with an increase of about 10.5%. » Mere på de.investing.com

Westlake reported an adjusted loss per share of $0.77 for Q1 2026 on revenue of $2.65 billion, substantially missing analysts' expectations. A 34% increase in US natural gas prices due to unusually cold weather, along with special items (including a legal settlement and shutdown costs), weighed on results; adjusted EBITDA was $235 million. Management reports progress on its three-pillar plan to boost profitability, which contributed about $150 million to EBITDA in the quarter, and reaffirms a target of $600 million in annual EBITDA improvement. The PEM segment remains under margin pressure while the HIP segment is more resilient; Westlake emphasizes financial flexibility with $2.5 billion in cash and expects improvement once gas prices normalize. » Mere på de.investing.com