Westlake reports loss in Q1 amid higher costs

Westlake Corporation posted a net loss of $40 million in Q1 2025, compared to a profit of $174 million a year earlier, as higher North American feedstock and energy costs and lower margins in its Performance and Essential Materials (PEM) segment weighed on results. EBITDA dropped to $288 million from $546 million in Q1 2024 and was also down from $416 million in Q4 2024. Net sales fell to $2.85 billion from $2.98 billion a year earlier.

The Housing and Infrastructure Products (HIP) segment fared better, with income from operations at $148 million, down from $210 million a year ago but up from $129 million in Q4. Sales rose 2% quarter-on-quarter, supported by volume gains in compounds, siding & trim, and roofing.

Westlake ended the quarter with $2.5 billion in cash and investments and total debt of $4.6 billion. The company expects improved operating rates in the coming quarters following the completion of planned turnarounds.