Westlake Corp (WLK) financial statements: income statement, balance sheet and cash flow

Westlake Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Westlake Corp reported revenue of $11.2B (-8.0% year on year) and net income of ($1.5B) (-350.5% year on year).

Income statement

Westlake Corp income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net sales	$11.2B	$12.1B	$12.5B	$15.8B
Cost of sales	$10.4B	$10.2B	$10.3B	$11.7B
Gross profit	$813.0M	$2.0B	$2.2B	$4.1B
Selling, general and administrative expenses	$900.0M	$874.0M	$865.0M	$835.0M
Impairment of goodwill and long-lived assets	$727.0M	$0	$475.0M	—
Amortization of intangibles	$124.0M	$117.0M	$122.0M	$155.0M
Restructuring, transaction and integration-related costs	$640.0M	$91.0M	$28.0M	$33.0M
Income (loss) from operations	($1.6B)	$875.0M	$729.0M	$3.0B
Interest expense	($171.0M)	($159.0M)	($165.0M)	($177.0M)
Other income, net	$152.0M	$222.0M	$136.0M	$73.0M
Income (loss) before income taxes	($1.6B)	$938.0M	$700.0M	$2.9B
Income tax provision (benefit)	($126.0M)	$291.0M	$178.0M	$649.0M
Net income (loss)	($1.5B)	$647.0M	$522.0M	$2.3B
Net income attributable to noncontrolling interests	$37.0M	$45.0M	$43.0M	$50.0M
Net income (loss) attributable to Westlake Corporation	($1.5B)	$602.0M	$479.0M	$2.2B
Basic (in dollars per share)	-$11.70	$4.66	$3.73	$17.46
Diluted (in dollars per share)	-$11.70	$4.64	$3.70	$17.34
Basic (in shares)	128.3M	128.5M	127.8M	128.0M
Diluted (in shares)	128.3M	129.2M	128.6M	128.8M

Westlake Corp income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Net sales	$3.3B	$2.7B	$2.8B	$3.0B
Cost of sales	$2.6B	$2.5B	$2.6B	$2.7B
Gross profit	$652.0M	$112.0M	$236.0M	$258.0M
Selling, general and administrative expenses	$253.0M	$236.0M	$228.0M	$221.0M
Amortization of intangibles	$32.0M	$30.0M	$30.0M	$31.0M
Restructuring, transaction and integration-related costs	$3.0M	$18.0M	$17.0M	$115.0M
Income (loss) from operations	$364.0M	($172.0M)	($766.0M)	($109.0M)
Interest expense	($55.0M)	($56.0M)	($41.0M)	($40.0M)
Other income, net	$29.0M	$38.0M	$32.0M	$24.0M
Income (loss) before income taxes	$338.0M	($190.0M)	($775.0M)	($125.0M)
Provision for income taxes	$67.0M	($33.0M)	($3.0M)	$6.0M
Net income (loss)	$271.0M	($157.0M)	($772.0M)	($131.0M)
Net income attributable to noncontrolling interests	$11.0M	$12.0M	$10.0M	$11.0M
Net income (loss) attributable to Westlake Corporation	$260.0M	($169.0M)	($782.0M)	($142.0M)
Basic (in dollars per share)	$2.02	-$1.31	-$6.06	-$1.11
Diluted (in dollars per share)	$2.01	-$1.31	-$6.06	-$1.11
Basic (in shares)	128.0M	128.0M	128.3M	128.2M
Diluted (in shares)	128.5M	128.0M	128.3M	128.2M

Balance sheet

Westlake Corp balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$2.7B	$2.9B	$3.3B	$2.2B
Available-for-sale securities	$204.0M	—	—	—
Accounts receivable, net	$1.5B	$1.5B	$1.6B	$1.8B
Inventories	$1.7B	$1.7B	$1.6B	$1.9B
Prepaid expenses and other current assets	$131.0M	$115.0M	$82.0M	$78.0M
Total current assets	$6.2B	$6.2B	$6.6B	$6.0B
Property, plant and equipment, net	$8.6B	$8.6B	$8.5B	$8.5B
Operating lease right-of-use assets	$798.0M	$801.0M	$697.0M	$615.0M
Goodwill	$1.3B	$2.0B	$2.0B	$2.2B
Customer relationships, net	$743.0M	$820.0M	$910.0M	$993.0M
Other intangible assets, net	$439.0M	$462.0M	$493.0M	$572.0M
Equity method investments	$1.1B	$1.1B	$1.1B	$1.1B
Other assets, net	$784.0M	$708.0M	$651.0M	$569.0M
Total assets	$20.0B	$20.8B	$21.0B	$20.6B
Accounts payable	$783.0M	$851.0M	$877.0M	$889.0M
Accrued and other liabilities	$1.5B	$1.4B	$1.6B	$1.4B
Current portion of long-term debt, net	$497.0M	$6.0M	$299.0M	$0
Total current liabilities	$2.8B	$2.2B	$2.8B	$2.3B
Long-term debt, net	$5.1B	$4.6B	$4.6B	$4.9B
Deferred income taxes	$1.3B	$1.6B	$1.6B	$1.7B
Pension and other post-retirement benefits	$286.0M	$304.0M	$363.0M	$355.0M
Operating lease liabilities	$688.0M	$713.0M	$611.0M	$504.0M
Other liabilities	$492.0M	$362.0M	$340.0M	$314.0M
Total liabilities	$10.7B	$9.7B	$10.3B	$10.1B
Preferred stock, $0.01 par value, 50,000,000 shares authorized; no shares issued and outstanding	0	0	0	0
Common stock, $0.01 par value, 300,000,000 shares authorized; 134,651,380 and 134,651,380 shares issued at December 31, 2025 and 2024, respectively	1.0M	1.0M	1.0M	1.0M
Common stock, held in treasury, at cost; 6,740,232 and 6,424,366 shares at December 31, 2025 and 2024, respectively	-513.0M	-467.0M	-435.0M	-467.0M
Additional paid-in capital	$683.0M	$656.0M	$630.0M	$601.0M
Retained earnings	$8.7B	$10.5B	$10.1B	$9.9B
Accumulated other comprehensive loss	($80.0M)	($144.0M)	($98.0M)	($89.0M)
Total Westlake Corporation stockholders' equity	$8.8B	$10.5B	$10.2B	$9.9B
Noncontrolling interests	$503.0M	$516.0M	$523.0M	$534.0M
Total equity	$9.3B	$11.0B	$10.8B	$10.5B
Total liabilities and equity	$20.0B	$20.8B	$21.0B	$20.6B

Westlake Corp balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$1.6B	$2.3B	$1.9B	$2.1B
Available-for-sale securities	$209.0M	$205.0M	$198.0M	$192.0M
Accounts receivable, net	$2.0B	$1.7B	$1.8B	$1.8B
Inventories	$1.8B	$1.7B	$1.7B	$1.7B
Prepaid expenses and other current assets	$120.0M	$109.0M	$136.0M	$106.0M
Total current assets	$5.7B	$6.0B	$5.8B	$5.9B
Property, plant and equipment, net	$8.6B	$8.6B	$8.8B	$8.8B
Operating lease right-of-use assets	$781.0M	$782.0M	$803.0M	$824.0M
Goodwill	$1.3B	$1.3B	$1.3B	$2.0B
Customer relationships, net	$741.0M	$763.0M	$765.0M	$785.0M
Other intangible assets, net	$446.0M	$452.0M	$443.0M	$454.0M
Equity method investments	$1.0B	$1.0B	$1.1B	$1.1B
Other assets, net	$761.0M	$785.0M	$850.0M	$852.0M
Total assets	$19.4B	$19.7B	$19.8B	$20.8B
Accounts payable	$890.0M	$811.0M	$799.0M	$926.0M
Accrued and other liabilities	$1.4B	$1.4B	$1.3B	$1.5B
Current portion of long-term debt, net	$0	$496.0M	$750.0M	—
Total current liabilities	$2.3B	$2.7B	$2.9B	$2.4B
Long-term debt, net	$5.1B	$5.1B	$3.9B	$4.7B
Deferred income taxes	$1.4B	$1.4B	$1.6B	$1.5B
Pension and other post-retirement benefits	$272.0M	$279.0M	$323.0M	$325.0M
Operating lease liabilities	$681.0M	$672.0M	$709.0M	$731.0M
Other liabilities	$525.0M	$500.0M	$463.0M	$378.0M
Total liabilities	$10.2B	$10.7B	$9.9B	$10.0B
Preferred stock, $0.01 par value, 50,000,000 shares authorized; no shares issued and outstanding	0	0	0	0
Common stock, $0.01 par value, 300,000,000 shares authorized; 134,651,380 and 134,651,380 shares issued at June 30, 2026 and December 31, 2025, respectively	1.0M	1.0M	1.0M	1.0M
Common stock, held in treasury, at cost; 6,854,931 and 6,740,232 shares at June 30, 2026 and December 31, 2025, respectively	-532.0M	-504.0M	-484.0M	-484.0M
Additional paid-in capital	$697.0M	$685.0M	$673.0M	$662.0M
Retained earnings	$8.7B	$8.5B	$9.3B	$10.2B
Accumulated other comprehensive loss	($116.0M)	($99.0M)	($77.0M)	($64.0M)
Total Westlake Corporation stockholders' equity	$8.7B	$8.5B	$9.4B	$10.3B
Noncontrolling interests	$503.0M	$504.0M	$512.0M	$513.0M
Total equity	$9.2B	$9.1B	$9.9B	$10.8B
Total liabilities and equity	$19.4B	$19.7B	$19.8B	$20.8B

Cash flow statement

Westlake Corp cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income (loss)	($1.5B)	$647.0M	$522.0M	$2.3B
Depreciation and amortization	$1.2B	$1.1B	$1.1B	$1.1B
Stock-based compensation expense	$41.0M	$41.0M	$43.0M	$36.0M
Loss from disposition and write-off of assets and accelerated depreciation and amortization	$359.0M	$43.0M	$45.0M	$46.0M
Impairment of goodwill and long-lived assets	$727.0M	$0	$475.0M	—
Deferred income taxes	($177.0M)	($35.0M)	($175.0M)	($21.0M)
Other gains, net	($7.0M)	($27.0M)	($3.0M)	$5.0M
Accounts receivable	$15.0M	$87.0M	$225.0M	$325.0M
Inventories	$51.0M	($97.0M)	$250.0M	($140.0M)
Prepaid expenses and other current assets	($11.0M)	($35.0M)	($19.0M)	$5.0M
Accounts payable	($67.0M)	($20.0M)	($26.0M)	($153.0M)
Accrued and other liabilities	$89.0M	($213.0M)	$170.0M	$137.0M
Other, net	($262.0M)	($191.0M)	($268.0M)	($198.0M)
Net cash provided by operating activities	$465.0M	$1.3B	$2.3B	$3.4B
Additions to investments in unconsolidated subsidiaries	($33.0M)	($26.0M)	($25.0M)	($180.0M)
Additions to property, plant and equipment	($995.0M)	($1.0B)	($1.0B)	($1.1B)
Payments to Acquire Debt Securities, Available-for-Sale	($272.0M)	—	—	—
Proceeds from Sale and Maturity of Debt Securities, Available-for-Sale	$68.0M	—	—	—
Other, net	$9.0M	$33.0M	$22.0M	$12.0M
Net cash used for investing activities	($1.2B)	($1.0B)	($1.0B)	($2.5B)
Distributions to noncontrolling interests	($51.0M)	($49.0M)	($54.0M)	($60.0M)
Dividends paid	($272.0M)	($264.0M)	($221.0M)	($169.0M)
Proceeds from senior notes issuance, net	$1.2B	—	$0	$0
Repayment of senior notes	($254.0M)	($300.0M)	$0	($250.0M)
Repurchase of common stock for treasury	($63.0M)	($60.0M)	($23.0M)	($101.0M)
Other, net	($17.0M)	$10.0M	$9.0M	($7.0M)
Net cash provided by (used for) financing activities	$530.0M	($650.0M)	($245.0M)	($587.0M)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	$33.0M	($47.0M)	$19.0M	($24.0M)
Net increase (decrease) in cash, cash equivalents and restricted cash	($195.0M)	($384.0M)	$1.1B	$305.0M
Cash, cash equivalents and restricted cash at beginning of the year	$2.9B	$3.3B	$2.2B	$1.9B
Cash, cash equivalents and restricted cash at end of the year	$2.7B	$2.9B	$3.3B	$2.2B

Westlake Corp cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income (loss)	$114.0M	($157.0M)	($938.0M)	($166.0M)
Depreciation and amortization	$570.0M	$284.0M	$881.0M	$578.0M
Stock-based compensation expense	$20.0M	$7.0M	$30.0M	$19.0M
Loss from disposition and write-off of property, plant and equipment	$14.0M	$6.0M	$30.0M	$16.0M
Deferred income taxes	$14.0M	$34.0M	$40.0M	($19.0M)
Other losses, net	$13.0M	($4.0M)	$16.0M	$20.0M
Accounts receivable	($463.0M)	($183.0M)	($245.0M)	($308.0M)
Inventories	($64.0M)	($8.0M)	($13.0M)	($15.0M)
Prepaid expenses and other current assets	$28.0M	$25.0M	($17.0M)	$12.0M
Accounts payable	$123.0M	$33.0M	($19.0M)	$92.0M
Accrued and other liabilities	($71.0M)	($73.0M)	($29.0M)	$78.0M
Other, net	($74.0M)	($58.0M)	($223.0M)	($249.0M)
Net cash provided by operating activities	$224.0M	($94.0M)	$240.0M	$58.0M
Acquisitions of businesses, net of cash acquired	($171.0M)	($62.0M)	—	—
Additions to investments in unconsolidated subsidiaries	($1.0M)	$0	($23.0M)	($22.0M)
Additions to property, plant and equipment	($416.0M)	($209.0M)	($754.0M)	($515.0M)
Proceeds from maturities and paydown of available-for-sale securities	$63.0M	$33.0M	—	—
Purchase of available-for-sale securities	($69.0M)	($35.0M)	($198.0M)	($192.0M)
Other, net	$3.0M	$2.0M	$7.0M	$3.0M
Net cash used for investing activities	($591.0M)	($271.0M)	($968.0M)	($726.0M)
Distributions to noncontrolling interests	($23.0M)	($10.0M)	($33.0M)	($23.0M)
Dividends paid	($137.0M)	($68.0M)	($204.0M)	($136.0M)
Repayment of senior notes	($496.0M)	—	$0	—
Repurchase of common stock for treasury	($30.0M)	$0	($30.0M)	($30.0M)
Other, net	($18.0M)	($4.0M)	($18.0M)	($8.0M)
Net cash used for financing activities	($704.0M)	($82.0M)	($285.0M)	($197.0M)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	($9.0M)	($5.0M)	$21.0M	$30.0M
Net decrease in cash, cash equivalents and restricted cash	($1.1B)	($452.0M)	($992.0M)	($835.0M)
Cash, cash equivalents and restricted cash at beginning of period	$2.7B	$2.7B	$2.9B	$2.9B
Cash, cash equivalents and restricted cash at end of period	$1.7B	$2.3B	$1.9B	$2.1B

Westlake Corp score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.