Westlake's dramatic margin recovery from a -17.3% gross margin in 2025Q4 to 19.9% in 2026Q2 signals a cyclical upturn, yet the company's cumulative FCF of -$1.2B over ten quarters and a 48% cash decline to $1.6B underscore persistent cash generation challenges.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue rebounded to $3.3B in 2026Q2 (up 10.8% YoY) with gross margin swinging from -17.3% in 2025Q4 to 19.9%, though operating income remained negative in five of the prior six quarters.
Westlake operates as a global diversified industrial company, supplying essential products across housing, infrastructure, packaging, healthcare, automotive, and consumer goods sectors.
A bull case scenario driven by falling interest rates could lead to +6% 1-year revenue growth and +5% 3-year CAGR, highlighting upside potential.
With approximately 15,000 employees and worldwide operations, Westlake benefits from significant scale and geographic diversification.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Nov 4, 2026 | $0.45-7.3% vs $0.49 | $3.0B+1.3% vs $2.9B |
Q3 2026 Aug 4, 2026 | $2.01+9.8% vs $1.83 | $3.3B+0.8% vs $3.2B |
Q2 2026 May 5, 2026 | -$0.77-708.4% vs -$0.10 | $2.7B-4.8% vs $2.8B |
Q1 2026 Feb 24, 2026 | -$0.25+83.0% vs -$1.47 | $2.5B-2.9% vs $2.6B |
Westlake (NYSE: WLK - Get Free Report) and PPG Industries (NYSE: PPG - Get Free Report) are both materials companies, but which is the better business? We will contrast the two businesses based on the strength of their earnings, risk, valuation, profitability, analyst recommendations, institutional ownership and dividends. Institutional and Insider Ownership 28.4% of Westlake shares are
Westlake Corporation ( WLK ) Q3 2026 Earnings Call November 4, 2026 11:00 AM EST Company Participants Jeff Holy - Vice President of Finance & Investor Relations Jean-Marc Gilson - President, CEO & Director Jonathan Baksht - Senior VP & CFO Conference Call Participants Patrick Cunningham - Citigroup Inc., Research Division Frank Mitsch - Fermium Research, LLC David Begleiter - Deutsche Bank AG, Research Division Colin Pelzer Peter Osterland - Truist Securities, Inc., Research Division Aleksey Yefremov - Barclays Bank PLC, Research Division Kevin McCarthy - Vertical Research Partners, LLC Abigail Eberts - Wells Fargo Securities, LLC, Research Division Joshua Spector - UBS Investment Bank, Research Division Presentation Operator Good morning, ladies and gentlemen. Thank you for standing by.
While the top- and bottom-line numbers for Westlake (WLK) give a sense of how the business performed in the quarter ended September 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Westlake (WLK) came out with quarterly earnings of $0.45 per share, missing the Zacks Consensus Estimate of $0.6 per share. This compares to a loss of $0.29 per share a year ago.
Benchmark WLK against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Westlake Corporation (WLK)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $63.49 | $8.13B | -18.18 | -8.01% | -3.91% | -4.87% | 3.32% | |
| $17.31 | $1.97B | -11.88 | 3.68% | -2.49% | -9.53% | 4.62% | |
| $60.72 | $19.6B | 15.06 | -25.18% | 4.07% | 12.31% | 9.02% | |
| $9.45 | $1.66B | -9.91 | -5.85% | -2.68% | -5.64% | 8.95% | |
| $64.41 | $7.37B | 11.48 | -6.71% | 7.15% | 10.51% | 5.12% | |
| $46.49 | $5.1B | 19.55 | -7.16% | 2.66% | 5.76% | 0.26% |
Westlake Corporation (WLK) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Westlake Corporation (WLK) SEC filings — annual & quarterly reports (10-K, 10-Q)
Aug 4, 2026·SEC
Jul 29, 2026·SEC
Jun 15, 2026·SEC
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Westlake Corporation (WLK) stock FAQ — growth, dividends, profitability & financials explained
Westlake Corporation (WLK) reported $11.44B in revenue over the trailing twelve months. Revenue was $11.17B in fiscal year 2025. That is 956% more than the $1.06B of fiscal year 1999.
Westlake Corporation (WLK) revenue fell by 0.4% over the trailing twelve months, compared with the twelve months before.
No. Westlake Corporation (WLK) reported a net loss of $447.0M over the trailing twelve months.
Yes. Westlake Corporation (WLK) pays a dividend that yields 3.32% at the current price, a moderate yield.
Westlake Corporation (WLK) had a return on equity (ROE) of -4.9% over the trailing twelve months. A negative ROE means the company lost money over the period.
Westlake Corporation (WLK) generated $12.0M in free cash flow over the trailing twelve months.
