Westlake's Q3 Earnings and Revenues Miss Estimates on Lower Volumes

Zacks11-12

Westlake Corporation WLK logged a third-quarter 2024 profit of $108 million or 83 cents per share, down from $285 million or $2.20 per share in the year-ago quarter. Barring one-time items, adjusted ...

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Barring one-time items, adjusted ...</p>\n\n<a href=\"https://finance.yahoo.com/news/westlakes-q3-earnings-revenues-miss-122800892.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PPG","symbol_name":"PPG工业","start_time":0,"source_url":"https://finance.yahoo.com/news/westlakes-q3-earnings-revenues-miss-122800892.html","article_id":"2482870044","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/ShfhwtDyA2WzDBKdAL7M8Q--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/6f2cab89bf2cbad1966358e04258e202"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2482870044","pubTimestamp":1731414480,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Westlake Corporation WLK logged a third-quarter 2024 profit of $108 million or 83 cents per share, down from $285 million or $2.20 per share in the year-ago quarter. Barring one-time items, adjusted earnings for the reported quarter came in at $1.41 per share. The bottom line missed the Zacks Consensus Estimate of $2.12.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Sales for the reported quarter were $3,117 million, flat year over year. It lagged the Zacks Consensus Estimate of $3,230.6 million. Sales declined 3% sequentially as a 4% decline in sales volumes more than offset a 1% increase in average sales prices.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PPG":"PPG工业","CC":"Chemours Company","DD":"杜邦"},"translate_title":"Westlake第三季度盈利和收入因销量下降而未达到预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CC":0.9,"DD":0.9,"PPG":0.9},"content_text":"Westlake Corporation WLK logged a third-quarter 2024 profit of $108 million or 83 cents per share, down from $285 million or $2.20 per share in the year-ago quarter. Barring one-time items, adjusted earnings for the reported quarter came in at $1.41 per share. The bottom line missed the Zacks Consensus Estimate of $2.12.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Sales for the reported quarter were $3,117 million, flat year over year. It lagged the Zacks Consensus Estimate of $3,230.6 million. Sales declined 3% sequentially as a 4% decline in sales volumes more than offset a 1% increase in average sales prices.\n\nWestlake Corp. Price, Consensus and EPS Surprise\n\nWestlake Corp. price-consensus-eps-surprise-chart | Westlake Corp. Quote\n\nWLK’s Segment Highlights\nSales in the Performance and Essential Materials (PEM) segment went up around 2% year over year to $2,019 million in the reported quarter. It was above our estimate of $2,017.8 million. PEM sales volume fell 1% sequentially while average sales price rose 1%.The Housing and Infrastructure Products (HIP) segment generated sales of $1,098 million, down around 4% from the year-ago quarter. The figure was below our estimate of $1,211.8 million. HIP sales volumes were hurt by weaker North American residential construction activity and weather disruptions.\nWestlake’s Financial Position\nAs of Sept. 30, 2024, cash and cash equivalents totaled $2.9 billion, while total debt was $4.6 billion.\nIn the third quarter, net cash provided by operating activities was $474 million, with capital expenditures of $220 million.\nWLK’s Outlook\nPer WLK, the pace of the recovery from the recent downturn in global industrial and manufacturing activities remains uneven. Nevertheless, the recent monetary and fiscal stimulus have the potential to accelerate the pace of the macroeconomic recovery. WLK will remain focused on developing and commercializing innovative new products to help its customers meet their needs, improving the profitability of its plants and creating long-term shareholder value.\nWLK’s Zacks Rank & Other Chemicals Releases\nWLK currently carries a Zacks Rank #5 (Strong Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.DuPont de Nemours, Inc. DD logged adjusted earnings of $1.18 per share in the third quarter, topping the Zacks Consensus Estimate of $1.04. DD raised its full-year 2024 projections for operating EBITDA and adjusted earnings per share. The Chemours Company CC recorded adjusted earnings of 40 cents for the third quarter, topping the Zacks Consensus Estimate of 32 cents. CC expects consolidated net sales to decline in the mid to high-single digits sequentially in the fourth quarter. Consolidated adjusted EBITDA is forecast to be down in the high teens to low 20% range compared with third-quarter 2024 results. PPG Industries, Inc. PPG logged third-quarter adjusted earnings per share of $2.13, missing the Zacks Consensus Estimate of $2.15. PPG anticipates flat organic sales and adjusted earnings per share at the bottom end of the $8.15 to $8.30 range for full-year 2024.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nWestlake Corp. (WLK) : Free Stock Analysis Report\nPPG Industries, Inc. (PPG) : Free Stock Analysis Report\nDuPont de Nemours, Inc. (DD) : Free Stock Analysis Report\nThe Chemours Company (CC) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482870044"}