Compared to Estimates, Westlake (WLK) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2024, Westlake Chemical (WLK) reported revenue of $3.21 billion, down 1.4% over the same period last year. EPS came in at $2.40, compared to $2.31 in the year-ago quarter.
The reported revenue represents a surprise of +0.97% over the Zacks Consensus Estimate of $3.18 billion. With the consensus EPS estimate being $1.90, the EPS surprise was +26.32%.
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
: $2.01 billion compared to the $2.03 billion average estimate based on four analysts. The reported number represents a change of -5.8% year over year.
Net external sales- Housing and Infrastructure Products
: $1.19 billion versus $1.13 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +7.1% change.
Net external sales- Performance and Essential Materials - Performance materials
: $1.18 billion compared to the $1.20 billion average estimate based on three analysts. The reported number represents a change of +3.3% year over year.
Net external sales- Performance and Essential Materials - Essential materials
: $836 million compared to the $820.02 million average estimate based on three analysts. The reported number represents a change of -16.1% year over year.
Net external sales- Housing and Infrastructure Products - Housing products
: $1.01 billion compared to the $915.90 million average estimate based on two analysts. The reported number represents a change of +10% year over year.
Net external sales- Housing and Infrastructure Products - Infrastructure products
: $184 million compared to the $175.21 million average estimate based on two analysts. The reported number represents a change of -6.6% year over year.
EBITDA- Housing and Infrastructure Products
: $336 million versus the three-analyst average estimate of $254.20 million.
EBITDA- Performance and Essential Materials
: $391 million versus the three-analyst average estimate of $346.30 million.
View all Key Company Metrics for Westlake here>>>
Shares of Westlake have returned -6.4% over the past month versus the Zacks S&P 500 composite's -6.7% 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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