Westlake Corp reports results for the quarter ended in June - Earnings Summary

Westlake

06/08/2024 14:31

* Westlake Corp  WLK.N  reported quarterly adjusted earnings
of
$2.40​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of $2.31. 
The mean expectation of seventeen analysts for the quarter was
for earnings of $1.99 per share. Wall Street expected results to
range from $1.80  to $2.55 per share.
    * Revenue fell 1.4% to $3.21 billion from a year ago;
analysts
expected $3.24 billion. 
    * Westlake Corp's reported EPS for the quarter was $2.40​.
    * The company reported quarterly net income of $313 million.
    * Westlake Corp shares had fallen by 7.8% this quarter and
lost 4.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 4.2%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 11
"hold" and 2 "sell" or "strong sell." 
    * The average consensus recommendation for the commodity
chemicals
peer group is also "hold"

Wall Street's median 12-month price target for Westlake Corp is
$160.00 
This summary was machine generated from LSEG data August 6 at
01:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      1.99           2.40           Beat
 Mar. 31 2024      1.03           1.34           Beat
 Dec. 31 2023      0.90           0.72           Missed
 Sep. 30 2023      1.97           2.20           Beat