Question · Q3 2025
David Beaglehole asked about the increasingly weakening spot market in polyethylene, its potential effect on fourth-quarter earnings, and implications for the October price increase for polyethylene. He also inquired about Westlake's commitment to its current portfolio construct, specifically whether the board considers separating the building products and petrochemical businesses.
Answer
Jean-Marc Gilson, President and CEO, acknowledged weakening polyethylene prices and pressure on ethylene margins due to stable ethane prices and ample supply, expecting stable to slightly lower prices in Q4 with seasonality. Steven Bender, EVP and CFO, stated that Westlake believes in the strength of the combined businesses due to synergies like PVC supply to HIP, expected global supply/demand improvement, and cost restructuring. He acknowledged different market valuations for chemicals and construction materials but confirmed the company would evaluate options.