AP NEWS

Westlake: 4Q Earnings Snapshot

February 19, 2019

HOUSTON (AP) _ Westlake Chemical Corp. (WLK) on Tuesday reported fourth-quarter profit of $123 million.

On a per-share basis, the Houston-based company said it had net income of 95 cents. Earnings, adjusted for non-recurring costs, were $1.02 per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.72 per share.

The chemical company posted revenue of $2 billion in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $2.15 billion.

For the year, the company reported profit of $996 million, or $7.62 per share. Revenue was reported as $8.64 billion.

Westlake shares have increased 22 percent since the beginning of the year. The stock has dropped 24 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WLK at https://www.zacks.com/ap/WLK