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Westlake (WLK) to Post Q1 Earnings: What's in the Cards?
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Westlake Corporation (WLK - Free Report) is set to release first-quarter 2022 results before market open on May 3. The company’s earnings are likely to have benefited from higher demand for polyethylene and polyvinyl chloride (“PVC”) resin.
Westlake beat the Zacks Consensus Estimate for earnings in all the last four quarters. The company has a trailing-four quarter earnings surprise of 12.8%, on average. The company posted an earnings surprise of around 7.8% in the last reported quarter.
Let’s see how things are shaping up for this announcement.
Zacks Model
Our proven model predicts an earnings beat for Westlake this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: Earnings ESP for Westlake is +17.30%. The Zacks Consensus Estimate for first-quarter earnings is currently pegged at $4.53. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Westlake currently sports a Zacks Rank #1.
What do the Estimates Say?
The Zacks Consensus Estimate for Westlake’s first-quarter revenues is currently pinned at $3,440 million, which indicates a 45.9% year-over-year increase.
Factors to Watch For
Westlake is likely to have benefited from strong demand for most of its products on continued global economic expansion. It is likely to have gained from higher demand in its polyethylene business in specialty applications, especially consumer product packaging and strength in global demand for PVC resin.
WLK is likely to have witnessed strong demand for PVC resin on the back of continued strength in the residential construction market and strong repair and remodeling markets. Strong demand in North American residential construction and the repair and remodeling markets is also likely to have driven prices of PVC resin in the March quarter.
Here are some companies in the basic materials space you may want to consider, as our model shows these have the right combination of elements to post an earnings beat this quarter:
The Zacks Consensus Estimate for Chemours’ first-quarter earnings has been revised 2.2% upward in the past 60 days. The consensus estimate for CC’s earnings for the quarter is currently pegged at 92 cents.
Nutrien Ltd. (NTR - Free Report) , slated to release earnings on May 2, has an Earnings ESP of +0.55% and sports a Zacks Rank #1.
The consensus estimate for Nutrien’s first-quarter earnings has been revised 1.9% upward over the past 60 days. The Zacks Consensus Estimate for NTR’s earnings for the quarter stands at $2.59.
The Mosaic Company (MOS - Free Report) , scheduled to release earnings on May 2, has an Earnings ESP of +0.89% and sports a Zacks Rank #1.
The Zacks Consensus Estimate for Mosaic’s first-quarter earnings has been revised 14.6% upward in the past 60 days. The Zacks Consensus Estimate for MOS’s earnings for the quarter is currently pegged at $2.44.
Image: Bigstock
Westlake (WLK) to Post Q1 Earnings: What's in the Cards?
Westlake Corporation (WLK - Free Report) is set to release first-quarter 2022 results before market open on May 3. The company’s earnings are likely to have benefited from higher demand for polyethylene and polyvinyl chloride (“PVC”) resin.
Westlake beat the Zacks Consensus Estimate for earnings in all the last four quarters. The company has a trailing-four quarter earnings surprise of 12.8%, on average. The company posted an earnings surprise of around 7.8% in the last reported quarter.
Let’s see how things are shaping up for this announcement.
Zacks Model
Our proven model predicts an earnings beat for Westlake this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: Earnings ESP for Westlake is +17.30%. The Zacks Consensus Estimate for first-quarter earnings is currently pegged at $4.53. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Westlake currently sports a Zacks Rank #1.
What do the Estimates Say?
The Zacks Consensus Estimate for Westlake’s first-quarter revenues is currently pinned at $3,440 million, which indicates a 45.9% year-over-year increase.
Factors to Watch For
Westlake is likely to have benefited from strong demand for most of its products on continued global economic expansion. It is likely to have gained from higher demand in its polyethylene business in specialty applications, especially consumer product packaging and strength in global demand for PVC resin.
WLK is likely to have witnessed strong demand for PVC resin on the back of continued strength in the residential construction market and strong repair and remodeling markets. Strong demand in North American residential construction and the repair and remodeling markets is also likely to have driven prices of PVC resin in the March quarter.
Westlake Corp. Price and EPS Surprise
Westlake Corp. price-eps-surprise | Westlake Corp. Quote
Other Stocks That Warrant a Look
Here are some companies in the basic materials space you may want to consider, as our model shows these have the right combination of elements to post an earnings beat this quarter:
The Chemours Company (CC - Free Report) , scheduled to release earnings on May 2, has an Earnings ESP of +3.83% and carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Chemours’ first-quarter earnings has been revised 2.2% upward in the past 60 days. The consensus estimate for CC’s earnings for the quarter is currently pegged at 92 cents.
Nutrien Ltd. (NTR - Free Report) , slated to release earnings on May 2, has an Earnings ESP of +0.55% and sports a Zacks Rank #1.
The consensus estimate for Nutrien’s first-quarter earnings has been revised 1.9% upward over the past 60 days. The Zacks Consensus Estimate for NTR’s earnings for the quarter stands at $2.59.
The Mosaic Company (MOS - Free Report) , scheduled to release earnings on May 2, has an Earnings ESP of +0.89% and sports a Zacks Rank #1.
The Zacks Consensus Estimate for Mosaic’s first-quarter earnings has been revised 14.6% upward in the past 60 days. The Zacks Consensus Estimate for MOS’s earnings for the quarter is currently pegged at $2.44.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.