Westlake Corporation Bottom Line Retreats In Q1, but beats estimates

(RTTNews) - Westlake Corporation (WLK) announced a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $174 million, or $1.34 per share. This compares with $394 million, or $3.05 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.3% to $2.98 billion from $3.36 billion last year.

Westlake Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $174 Mln. vs. $394 Mln. last year. -EPS (Q1): $1.34 vs. $3.05 last year. -Revenue (Q1): $2.98 Bln vs. $3.36 Bln last year.