Westlake (WLK) Q3 FY2026 earnings: revenue $3.0 billion, up 5.0% on the year

Westlake Corp. (WLK) reported revenue of $3.0 billion for Q3 FY2026, the quarter ended 30 September 2026, up 5.0% on the same quarter a year earlier. Net income was $6 million, and diluted earnings per share $0.05. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$3.0 billion

+5.0% on the year · -8.9% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

1.4%

-27.0% a year earlier

Q4 FY2024Q3 FY2026

Net income

$6 million

-97.7% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.05

-97.5% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 kept.

Reported net income $6 million; adjusted $58 million: Reported net income attributable to Westlake was $6 million, or $0.05 per share. Excluding Identified Items, net income was $58 million, or $0.45 per share, against a $38 million loss a year earlier.
EBITDA excluding items up 30%: EBITDA excluding Identified Items was $408 million, up 30% from $313 million a year earlier. The margin excluding Identified Items rose from 11% to 14%.
PEM sales rose on higher prices: PEM net sales were $1,894 million, up 8%, on a 9% higher average sales price and a 4% comparable volume increase, partly offset by plant closures.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	2,981	3,271	2,838	-8.9%	+5.0%
Cost of revenue	2,599	2,619	2,602	-0.8%	-0.1%
Gross profit	382	652	236	-41.4%	+61.9%
Gross margin	12.8%	19.9%	8.3%
Selling, general and administrative	250	253	228	-1.2%	+9.6%
Operating income	43.0	364	-766	-88.2%
Operating margin	1.4%	11.1%	-27.0%
Interest expense	52.0	55.0	41.0	-5.5%	+26.8%
Pre-tax income	8.0	338	-775	-97.6%
Income tax	-10.0	67.0	-3.0
Effective tax rate	-125.0%	19.8%	n/a
Net income	6.0	260	-782	-97.7%
Net margin	0.2%	7.9%	-27.6%
Diluted EPS	$0.05	$2.01	-$6.06	-97.5%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	395	318	182	+24.2%	+117.0%
Capital expenditure	175	207	239	-15.5%	-26.8%
Free cash flow	220	111	-57.0	+98.2%
Free cash flow margin	7.4%	3.4%	-2.0%
Cash from investing	-188	-320	-242
Cash from financing	-85.0	-622	-88.0
Depreciation and amortisation	290	286	303	+1.4%	-4.3%
Share-based compensation	12.0	13.0	11.0	-7.7%	+9.1%
Buybacks	0.0	30.0	0.0
Dividends paid	68.0	69.0	68.0	-1.4%	0.0%
Dividend per share	$0.53	$0.53	$0.53	+0.6%	+0.6%
Diluted shares, weighted	128m	129m	128m	-0.4%	-0.2%
Shares outstanding at period end	128m	128m	128m	+0.1%	-0.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	8,659	8,705	9,426	-0.5%	-8.1%
Non-controlling interest	506	503	512	+0.6%	-1.2%
Debt	5,064	5,067	4,656	-0.1%	+8.8%
Operating lease liabilities	657	681	709	-3.5%	-7.3%
Other liabilities	4,389	4,483	4,511	-2.1%	-2.7%
Total liabilities and equity	19,275	19,439	19,814	-0.8%	-2.7%
Fixed assets	8,604	8,647	8,825	-0.5%	-2.5%
Goodwill	1,347	1,346	1,314	+0.1%	+2.5%
Intangible assets	720	741	765	-2.8%	-5.9%
Investments	207	209	198	-1.0%	+4.5%
Cash and equivalents	1,764	1,643	1,927	+7.4%	-8.5%
Receivables	1,490	1,692	1,427	-11.9%	+4.4%
Inventory	1,809	1,754	1,727	+3.1%	+4.7%
Other assets	3,334	3,407	3,631	-2.1%	-8.2%
Total assets	19,275	19,439	19,814	-0.8%	-2.7%

Questions

What was Westlake's revenue in Q3 FY2026?

Westlake (WLK) reported revenue of $3.0 billion for Q3 FY2026, the quarter ended 30 September 2026, up 5.0% on the same quarter a year earlier.

How much did Westlake earn in Q3 FY2026?

Net income for Q3 FY2026 was $6 million, and diluted earnings per share $0.05.

When did Westlake report Q3 FY2026 results?

Westlake filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	3,507	4,056	4,483	3,956	3,299	3,356	3,251	3,115	2,826	2,975	3,207	3,117	2,843	2,846	2,953	2,838	2,533	2,652	3,271	2,981
Cost of revenue	2,411	2,771	3,038	3,180	2,732	2,564	2,609	2,529	2,627	2,509	2,543	2,618	2,515	2,614	2,695	2,602	2,446	2,540	2,619	2,599
Gross profit	1,096	1,285	1,445	776	567	792	642	586	199	466	664	499	328	232	258	236	87.0	112	652	382
Gross margin	31%	32%	32%	20%	17%	24%	20%	19%	7%	16%	21%	16%	12%	8%	9%	8%	3%	4%	20%	13%
SG&A	168	200	220	215	200	222	213	206	224	209	224	215	226	227	221	228	224	236	253	250
Operating income	873	1,032	1,175	516	327	536	396	349	-552	223	406	180	66.0	-32.0	-109	-766	-671	-172	364	43.0
Operating margin	25%	25%	26%	13%	10%	16%	12%	11%	-20%	7%	13%	6%	2%	-1%	-4%	-27%	-26%	-6%	11%	1%
Interest expense	46.0	46.0	44.0	44.0	43.0	42.0	42.0	40.0	41.0	40.0	41.0	39.0	39.0	39.0	40.0	41.0	51.0	56.0	55.0	52.0
Pre-tax income	845	997	1,148	496	305	516	377	365	-558	233	424	185	96.0	-34.0	-125	-775	-663	-190	338	8.0
Tax rate	22%	23%	24%	17%	19%	21%	19%	19%	n/a	21%	24%	35%	80%	n/a	n/a	n/a	n/a	n/a	20%	-125%
Net income	644	756	858	401	232	394	297	285	-497	174	313	108	7.0	-40.0	-142	-782	-544	-169	260	6.0
Net margin	18%	19%	19%	10%	7%	12%	9%	9%	-18%	6%	10%	3%	0%	-1%	-5%	-28%	-21%	-6%	8%	0%
Diluted EPS	$4.98	$5.83	$6.60	$3.10	$1.79	$3.05	$2.31	$2.20	-$3.86	$1.34	$2.40	$0.83	$0.06	-$0.31	-$1.11	-$6.06	-$4.22	-$1.31	$2.01	$0.05
Operating cash flow	757	700	913	947	835	512	555	696	573	169	237	474	434	-77.0	135	182	225	-94.0	318	395
Capital expenditure	244	263	230	318	297	267	240	245	282	272	231	220	285	248	267	239	241	209	207	175
Free cash flow	513	437	683	629	538	245	315	451	291	-103	6.0	254	149	-325	-132	-57.0	-16.0	-303	111	220
Buybacks	0.0	0.0	31.0	37.0	33.0	22.0	1.0	0.0	0.0	0.0	0.0	0.0	60.0	30.0	0.0	0.0	33.0	0.0	30.0	0.0
Dividends paid	38.0	39.0	38.0	46.0	46.0	47.0	45.0	64.0	65.0	65.0	65.0	67.0	67.0	68.0	68.0	68.0	68.0	68.0	69.0	68.0
Shares outstanding	128m	128m	128m	128m	127m	128m	128m	128m	128m	129m	129m	129m	128m	128m	128m	128m	128m	128m	128m	128m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 4 November 2026: the filing.