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Westlake Chemical reports record third quarter 2018 results

November 07/2018

MOSCOW (MRC) -- Westlake Chemical came out with quarterly earnings of USD2.35 per share, beating the Zacks Consensus Estimate of USD2.24 per share, as per Zacks.

This quarterly report represents an earnings surprise of 4.91%. A quarter ago, it was expected that this chemical company would post earnings of USD2.52 per share when it actually produced earnings of USD2.45, delivering a surprise of -2.78%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Westlake, which belongs to the Zacks Chemical - Plastic industry, posted revenues of USD2.26 billion for the quarter ended September 2018, surpassing the Zacks Consensus Estimate by 0.91%. This compares to year-ago revenues of USD2.11 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Westlake shares have lost about 30.1% since the beginning of the year versus the S&P 500's gain of 2.4%.

As MRC informed earlier, Westlake Chemical reported Q1 EPS of USD2.20, USD0.04 better than the analyst estimate of USD2.16. Revenue for the quarter came in at USD2.15 billion versus the consensus estimate of USD2.14 billion.

Westlake Chemical Corporation is an international manufacturer and supplier of petrochemicals, polymers and building products with headquarters in Houston, Texas. The company's range of products includes: ethylene, polyethylene, styrene, propylene, chlor-alkali and derivative products, PVC suspension and specialty resins, PVC Compounds, and PVC building products including siding, pipe, fittings and specialty components, windows, fence, deck and film.
Author:Anna Larionova
Tags:petroleum products, petrochemistry, Westlake Chemical, USA.
Category:General News
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