Westlake Chemical Corporation (WLK) Releases Earnings Results, Beats Expectations By $0.01 EPS

Westlake Chemical Corporation (WLK) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $0.94 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.93. The company posted revenue of $975.18 million in the period, compared to analysts expectations of $1024.07 million. The company’s revenue was down -11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 EPS.

Many Wall Street Analysts have commented on Westlake Chemical Corporation. Shares were Reiterated by Cowen on Mar 10, 2016 to “Outperform” and Lowered the Price Target to $ 53 from a previous price target of $57 .

Westlake Chemical Corporation (WLK) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $50.42 and reached the intraday high at $50.655. The bulls started the profit booking and pushed the shares to intraday low of $49.06. The trading session was marked by a volume range of 15,25,370 shares exchanging hands. The 52-week high of the shares is $77.59 and the 52-week low is $39.9. The market cap of the company stands at $6,536 M and there are 13,02,18,346 shares in public circulation.

In a different news, on Nov 12, 2015, George J Mangieri (VP & Chief Accounting Officer) sold 2,785 shares at $60.20 per share price. According to the SEC, on Aug 13, 2015, Robert T Blakely (director) sold 5,143 shares at $63.00 per share price. On May 27, 2015, Jeffrey L Taylor (Sr VP, Polyethylene) sold 8,143 shares at $70.54 per share price, according to the Form-4 filing with the securities and exchange commission.

Westlake Chemical Corporation is a vertically integrated manufacturer and marketer of basic chemicals vinyls polymers and fabricated building products. The Company’s products include a range of chemicals used in the world which are fundamental to many diverse consumer and industrial markets including flexible and rigid packaging automotive products coatings residential and commercial construction as well as other durable and non-durable goods. The Company operates in two principal operating segments Olefins and Vinyls. The Company is an integrated producer of vinyls with substantial downstream integration into polyvinyl chloride (PVC) building products. The Olefins segment manufactures a range of petrochemical products. The Vinyls segment primarily offers PVC vinyl chloride monomer (VCM) ethylene dichloride (EDC) chlorine caustic soda and through Westlake Chemical OpCo LP ethylene.

Westlake Chemical Corporation

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