Westlake Chemical Q4 Profit Declines - Quick Facts

(RTTNews) - Westlake Chemical Corp. (WLK) reported fourth-quarter earnings per share of $0.56 compared to $0.95, previous year. The company noted that its earnings for the fourth quarter of 2019 benefited from tax items of $0.22 per share. Restructuring, transaction and integration-related costs were $0.03 per share. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.87, for the quarter. Analysts' estimates typically exclude special items.

The company said the decline in net income was primarily due to lower global sales prices for its major products resulting from ongoing international trade uncertainties and slower global economic growth, partially offset by lower purchased ethylene, ethane feedstock and fuel costs.

Fourth-quarter net sales were $1.88 billion compared to $2.00 billion, previous year. Analysts expected revenue of $1.92 billion for the quarter.