Westlake Chemical Corp (WLK) released its first quarter results on Wednesday, May 5, 2021. The company reported net earnings of $1.87 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 66 percent compared to the same period a year ago.
Westlake Chemical Corporation is a subsidiary of TTWF LP. Westlake Chemical Corporation, together with its subsidiaries, manufactures and markets basic chemicals, vinyls, polymers, and building products worldwide. It operates through two segments, Vinyls and Olefins.
Westlake Chemical's revenue decreased 1 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 28.72% for the first quarter compared to the same period in the previous year, and operating margins increased to 14.68% over the same period. Net earnings for past trailing twelve months were $426.0 million, down 13% from the prior year.
Moving on to the balance sheet, Westlake Chemical's cash levels dropped 9% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 23.47% this past year. The current ratio for Westlake Chemical now stands at 2.82. The company decreased shares outstanding by 0.43%.
Shares of WLK are currently trading around $102.01. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 30.96 and price to book ratio of 2.12.