Westlake Chemical Shares Decline Following Disappointing Quarterly Results

Westlake Chemical shares experienced downward pressure in recent trading, declining by 1.16 percent to settle at $86.01. This movement extends a broader negative trend for the equity.

The company’s August quarterly release significantly impacted investor sentiment with results that missed analyst projections across key metrics:

• Earnings Per Share: Reported a loss of $0.09, contrasting with the anticipated profit of $0.06
• Revenue: Totaled $2.95 billion, falling short of the $3 billion forecast
• Year-Over-Year Sales: Declined by 7.9 percent compared to the same period last year

These weaker-than-expected figures resulted in a net margin of negative 0.57 percent. Market attention is now turning to the upcoming Q3 results, anticipated for release in November.

Mixed... Read more...