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

Westlake

01/05/2024 14:31

* Westlake Corp  WLK.N  reported quarterly adjusted earnings
of
$1.34​​ per share for the quarter ended in March, lower than the
same quarter last year, when the company reported EPS of $3.05. 
The mean expectation of eighteen analysts for the quarter was
for earnings of $1.03 per share. Wall Street expected results to
range from 84 cents to $1.20 per share.
    * Revenue fell 11.4% to $2.98 billion from a year ago;
analysts
expected $2.93 billion. 
    * Westlake Corp's reported EPS for the quarter was $1.34​.
    * The company reported quarterly net income of $174 million.
    * Westlake Corp shares had fallen by 3.6% this quarter and
gained 5.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 23.9%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 12
"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
$154.00 
This summary was machine generated from LSEG data May 1 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
 Mar. 31 2024      1.03           1.34           Beat
 Dec. 31 2023      0.90           0.72           Missed
 Sep. 30 2023      1.97           2.20           Beat
 Jun. 30 2023      2.93           2.31           Missed