Westlake Chemical (NYSE: WLK) reported earnings on May 6. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Westlake Chemical met expectations on revenues and crushed expectations on earnings per share.

Compared to the prior-year quarter, revenue contracted significantly. GAAP earnings per share grew significantly.

Margins grew across the board.

Revenue details
 Westlake Chemical notched revenue of $864.6 million. The nine analysts polled by S&P Capital IQ wanted to see a top line of $870.1 million on the same basis. GAAP reported sales were 16% lower than the prior-year quarter's $1.03 billion.

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

EPS details
 EPS came in at $1.84. The nine earnings estimates compiled by S&P Capital IQ predicted $1.25 per share. GAAP EPS of $1.84 for Q1 were 40% higher than the prior-year quarter's $1.31 per share.

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

Margin details
 For the quarter, gross margin was 26.3%, 960 basis points better than the prior-year quarter. Operating margin was 22.4%, 830 basis points better than the prior-year quarter. Net margin was 14.3%, 580 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $941.7 million. On the bottom line, the average EPS estimate is $1.82.

Next 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 100 members out of 111 rating the stock outperform, and 11 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 $84.38.

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