Westlake Corporation reported a reduced profit for the first quarter compared to the same period last year; however, it surpassed the market predictions. The company's earnings for this quarter amounted to $174 million, equivalent to $1.34 per share, in contrast to $394 million, or $3.05 per share, from the first quarter of the previous year.
According to data gathered by Thomson Reuters, the average market prediction was an earning of $1.02 per share. These predictions usually exclude any extraordinary items. The company's revenue for this quarter dropped by 11.3% to $2.98 billion, down from $3.36 billion the previous year.
To give an overview of Westlake Corporation's earnings (based on Generally Accepted Accounting Principles, or GAAP), the first quarter earnings were $174 million, down from $394 million last year; earnings per share (EPS) this quarter were $1.34, down from $3.05 last year, and the revenue for this quarter was $2.98 billion, down from $3.36 billion last year.
