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