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Compared to Estimates, Westlake (WLK) Q2 Earnings: A Look at Key Metrics
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Westlake Chemical (WLK - Free Report) reported $3.25 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 27.5%. EPS of $2.31 for the same period compares to $6.60 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.45 billion, representing a surprise of -5.73%. The company delivered an EPS surprise of -18.37%, with the consensus EPS estimate being $2.83.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Westlake performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net external sales- Performance and Essential Materials: $2.14 billion versus the five-analyst average estimate of $2.29 billion. The reported number represents a year-over-year change of -31.2%.
Net external sales- Housing and Infrastructure Products: $1.12 billion versus $1.13 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -19.1% change.
Net external sales- Performance and Essential Materials - Performance materials: $1.14 billion versus the three-analyst average estimate of $1.28 billion.
Net external sales- Performance and Essential Materials - Essential materials: $996 million compared to the $1.03 billion average estimate based on three analysts.
Net external sales- Housing and Infrastructure Products - Housing products: $918 million versus $918.39 million estimated by two analysts on average.
Net external sales- Housing and Infrastructure Products - Infrastructure products: $197 million compared to the $211.27 million average estimate based on two analysts.
EBITDA- Housing and Infrastructure Products: $244 million versus $222.35 million estimated by four analysts on average.
EBITDA- Performance and Essential Materials: $435 million compared to the $571.04 million average estimate based on four analysts.
Shares of Westlake have returned +14.4% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Westlake (WLK) Q2 Earnings: A Look at Key Metrics
Westlake Chemical (WLK - Free Report) reported $3.25 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 27.5%. EPS of $2.31 for the same period compares to $6.60 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.45 billion, representing a surprise of -5.73%. The company delivered an EPS surprise of -18.37%, with the consensus EPS estimate being $2.83.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Westlake performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net external sales- Performance and Essential Materials: $2.14 billion versus the five-analyst average estimate of $2.29 billion. The reported number represents a year-over-year change of -31.2%.
- Net external sales- Housing and Infrastructure Products: $1.12 billion versus $1.13 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -19.1% change.
- Net external sales- Performance and Essential Materials - Performance materials: $1.14 billion versus the three-analyst average estimate of $1.28 billion.
- Net external sales- Performance and Essential Materials - Essential materials: $996 million compared to the $1.03 billion average estimate based on three analysts.
- Net external sales- Housing and Infrastructure Products - Housing products: $918 million versus $918.39 million estimated by two analysts on average.
- Net external sales- Housing and Infrastructure Products - Infrastructure products: $197 million compared to the $211.27 million average estimate based on two analysts.
- EBITDA- Housing and Infrastructure Products: $244 million versus $222.35 million estimated by four analysts on average.
- EBITDA- Performance and Essential Materials: $435 million compared to the $571.04 million average estimate based on four analysts.
View all Key Company Metrics for Westlake here>>>Shares of Westlake have returned +14.4% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.