Westlake Chemical (NYSE: WLK) is expected to report Q1 earnings on May 6. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Westlake Chemical's revenues will contract -15.9% and EPS will wane -4.6%.

The average estimate for revenue is $870.1 million. On the bottom line, the average EPS estimate is $1.25.

Revenue details
 Last quarter, Westlake Chemical tallied revenue of $801.0 million. GAAP reported sales were 6.8% lower than the prior-year quarter's $859.2 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $1.42. GAAP EPS of $1.41 for Q4 were 262% higher than the prior-year quarter's $0.39 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 23.8%, much better than the prior-year quarter. Operating margin was 19.4%, much better than the prior-year quarter. Net margin was 11.9%, 880 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $3.70 billion. The average EPS estimate is $6.36.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 101 members out of 113 rating the stock outperform, and 12 members rating it underperform. Among 26 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 25 give Westlake Chemical a green thumbs-up, and one give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Westlake Chemical is hold, with an average price target of $69.88.

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