Westlake Chemical's (WLK) Q4 Earnings & Sales Miss Estimates
Westlake Chemical Corporation WLK is a vertically integrated international producer and supplier of petrochemicals, polymers and fabricated products.
Earnings
Westlake Chemical’s adjusted earnings were $1.62 per share for the fourth quarter. It missed the Zacks Consensus Estimate of $1.69 per share.
Westlake Chemical Corporation Price and EPS Surprise
Westlake Chemical Corporation Price and EPS Surprise | Westlake Chemical Corporation Quote
Revenues
Westlake Chemical posted fourth-quarter revenues of $2,010 million, up 15.9% year over year. It missed the Zacks Consensus Estimate of $2,073 million.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Westlake Chemical for the fourth quarter has been going up over the last month. Westlake Chemical has beaten the Zacks Consensus Estimate in all the trailing four quarters with an average beat of 23.5%.
Key Stats/Developments to Note
The company noted that since its Axiall transaction in August 2016, it has made considerable progress in integration and improvement activities and continues to invest to improve operations and create additional value related to the transaction.
Zacks Rank
Westlake Chemical currently has a Zacks Rank #2 (Buy), but that could change following its earnings report which has just released. Meanwhile, you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Market Reaction
Westlake Chemical’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Westlake Chemical’s earnings report!
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