Westlake Chemical WLK is a vertically integrated international producer and supplier of petrochemicals, polymers and fabricated products. The company's range of products includes ethylene, polyethylene, styrene, vinyl intermediates, PVC, PVC Pipe, PVC windows, fence and decking components. The Houston, TX, based company is focusing on its expansion plans, to lower costs, by adding 250 MM pounds of capacity at the Lake Charles site and 100 MM at Calvert City. It is also aiming to acquire Axiall Corporation. Let’s have a quick look at the company’s first-quarter 2016 release. Estimate Trend & Surprise History Investors should note that the earnings estimate for Westlake Chemical for the first quarter has seen a downtrend over the last month. The company has beaten the Zacks Consensus Estimate in 1 of the trailing 4 quarters while meeting once and missing twice, with an average positive surprise of 1.18%. Earnings Westlake Chemical posted earnings of 94 cents per share in the quarter, down 14.5% from earnings of $1.10 per share a year ago. That beat the Zacks Consensus Estimate of 89 cents. Revenues Westlake Chemical reported revenues of $975.2 million, down around 11.6% year over year. That missed the Zacks Consensus Estimate of $1,008 million. Key Developments to Note Sales were affected by lower sales price in the reported quarter, due to lower price of crude oil. However, this was partly offset by lower average feedstock and energy costs as well as higher product margins at the European operations and higher production of chlor alkali, compared to the prior year quarter. EBITDA decreased 8.9% year over year to $270.6 million in the reported quarter. Zacks Rank Currently, Westlake Chemical has a Zacks Rank #4 (Sell), but that could change following its earnings report which was just released. Market Reaction Westlake Chemical’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today. Check back later for our full write up on Westlake Chemical’s earnings report! Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report WESTLAKE CHEM (WLK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research