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Westlake Chemical (WLK) Q1 Earnings and Sales Top Estimates
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Westlake Chemical (WLK - Free Report) is a vertically integrated international producer and supplier of petrochemicals, polymers and fabricated products. The company's range of products includes ethylene, polyethylene, styrene, vinyl intermediates, PVC, PVC Pipe, PVC windows, fence and decking components.
Westlake Chemical is benefiting from healthy demand for olefins and vinyls products. Moreover, the Axiall Corp. acquisition is expected to deliver meaningful annual cost synergies.
Let’s have a quick look at the company’s first-quarter 2017 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Westlake Chemical for the first quarter has decreased over the last month. The company has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters while missing once, with an average positive surprise of 11.14%.
Westlake Chemical Corporation Price and EPS Surprise
Westlake Chemical’s adjusted earnings came in at $1.26 per share in the quarter, which topped the Zacks Consensus Estimate of 80 cents.
Revenues
Westlake Chemical reported revenues of $1,942.6 million, up around 99.2% year over year. Sales in the quarter benefited from higher sales volumes for major products and increased selling prices for caustic and North American polyvinyl chloride resin. Revenues also surpassed the Zacks Consensus Estimate of $1,765 million.
Key Developments to Note
Westlake Chemical is seeing strong global demand for its key products. It is making progress in integrating the acquired Axiall business and is working towards achieving the expected synergies in 2017.
Zacks Rank
Currently, Westlake Chemical has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released.
Market Reaction
Westlake Chemical’s shares were up 1.3% in pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.
Sell These Stocks. Now.
Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500.
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Westlake Chemical (WLK) Q1 Earnings and Sales Top Estimates
Westlake Chemical (WLK - Free Report) is a vertically integrated international producer and supplier of petrochemicals, polymers and fabricated products. The company's range of products includes ethylene, polyethylene, styrene, vinyl intermediates, PVC, PVC Pipe, PVC windows, fence and decking components.
Westlake Chemical is benefiting from healthy demand for olefins and vinyls products. Moreover, the Axiall Corp. acquisition is expected to deliver meaningful annual cost synergies.
Let’s have a quick look at the company’s first-quarter 2017 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Westlake Chemical for the first quarter has decreased over the last month. The company has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters while missing once, with an average positive surprise of 11.14%.
Westlake Chemical Corporation Price and EPS Surprise
Westlake Chemical Corporation Price and EPS Surprise | Westlake Chemical Corporation Quote
Earnings
Westlake Chemical’s adjusted earnings came in at $1.26 per share in the quarter, which topped the Zacks Consensus Estimate of 80 cents.
Revenues
Westlake Chemical reported revenues of $1,942.6 million, up around 99.2% year over year. Sales in the quarter benefited from higher sales volumes for major products and increased selling prices for caustic and North American polyvinyl chloride resin. Revenues also surpassed the Zacks Consensus Estimate of $1,765 million.
Key Developments to Note
Westlake Chemical is seeing strong global demand for its key products. It is making progress in integrating the acquired Axiall business and is working towards achieving the expected synergies in 2017.
Zacks Rank
Currently, Westlake Chemical has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released.
Market Reaction
Westlake Chemical’s shares were up 1.3% in pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.
Sell These Stocks. Now.
Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500.
See today's Zacks "Strong Sells" absolutely free >>.