For the first quarter Westlake Chemical reported earnings of $1.18 a share, beating the Capital Q Consensus Estimate of $1.13 a share by 5 cents. Revenue increased 18.9% year-over-year to $1.03 billion. Analysts expected revenue of $980 million for the quarter.
"We are pleased to report a 28% increase in first quarter net income as compared to the first quarter of last year despite the negative impact on earnings related to elevated propane costs, severe winter weather and the Calvert City planned maintenance turnaround," president and CEO Albert Chao said in a press release.
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TheStreet Ratings team rates WESTLAKE CHEMICAL CORP as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate WESTLAKE CHEMICAL CORP (WLK) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, solid stock price performance and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows low profit margins."