Westlake Chemical (WLK) Tops Q2 EPS by 11c, Revenues Beat

Westlake Chemical (NYSE: WLK) reported Q2 EPS of $0.11, $0.11 better than the analyst estimate of $0.00. Revenue for the quarter came in at $1.71 billion versus the consensus estimate of $1.65 billion.

"The second quarter of 2020 was challenging as we navigated the global COVID-19 pandemic, which significantly reduced global demand for our products, as well as a sharp decline in global oil prices," said Albert Chao, President and Chief Executive Officer. "Westlake's foundational principle is a commitment to safety. Our first priority has been to ensure the health and safety of our employees around the world while delivering essential products that serve a number of critical industries including food services, packaging and healthcare. Although this pandemic is creating near-term turbulence, our long-term fundamentals remain strong. We are confident that Westlake is well positioned to continue to serve the needs of our customers while managing working capital, lowering our operating costs and reducing capital expenditures. The prudent management of our business through this pandemic, combined with the strong fundamentals of our business, will allow us to deliver long-term value to our shareholders."

For earnings history and earnings-related data on Westlake Chemical (WLK) click here.

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