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Markets :: Basic Chemicals :: Inorganic Chemicals :: Chlor-alkali
Profits Rise at Westlake
11:32 AM MDT | November 1, 2011 | Lindsey Bewley
Westlake Chemical reported third-quarter net income of $67.9 million ($1.01/share), up 8% from the year ago quarter and beating analysts’ estimates of 98 cts/share, according to Thomson Reuters. Sales were up 21% from the year-ago quarter, to $968 million, on driven primarily by higher sales prices. Income from operations rose 9%, to $117.3 million, primarily from higher PVC resin, PVC pipe and caustic soda margins, Westlake says. Operating income for the company’s olefins segment fell 22% from the third-quarter of 2010, to $105 million, due to...
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