Analysts on Wall Street project that Westlake Chemical (WLK) will announce quarterly earnings of $2.04 per share in its forthcoming report, representing a decline of 7.3% year over year. Revenues are projected to reach $3.23 billion, increasing 3.7% from the same quarter last year.

The current level reflects a downward revision of 6.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.

In light of this perspective, let's dive into the average estimates of certain Westlake metrics that are commonly tracked and forecasted by Wall Street analysts.

The average prediction of analysts places 'Net external sales- Performance and Essential Materials' at $2.03 billion. The estimate indicates a change of +2.8% from the prior-year quarter.

The consensus among analysts is that 'Net external sales- Housing and Infrastructure Products' will reach $1.20 billion. The estimate suggests a change of +5% year over year.

The consensus estimate for 'Net external sales- Performance and Essential Materials - Performance materials' stands at $1.23 billion. The estimate points to a change of +9.5% from the year-ago quarter.

According to the collective judgment of analysts, 'Net external sales- Performance and Essential Materials - Essential materials' should come in at $845.91 million. The estimate points to a change of +0.2% from the year-ago quarter.

It is projected by analysts that the 'Net external sales- Housing and Infrastructure Products - Housing products' will reach $1.05 billion. The estimate indicates a year-over-year change of +8.6%.

Analysts predict that the 'Net external sales- Housing and Infrastructure Products - Infrastructure products' will reach $191.11 million. The estimate indicates a change of +5.6% from the prior-year quarter.

Analysts' assessment points toward 'EBITDA- Housing and Infrastructure Products' reaching $273.98 million. Compared to the present estimate, the company reported $327 million in the same quarter last year.

The combined assessment of analysts suggests that 'EBITDA- Performance and Essential Materials' will likely reach $367.97 million. The estimate compares to the year-ago value of $339 million.

View all Key Company Metrics for Westlake here>>>

Westlake shares have witnessed a change of -9.6% in the past month, in contrast to the Zacks S&P 500 composite's +1% move. With a Zacks Rank #3 (Hold), WLK is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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