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Markets :: Basic Chemicals :: Petrochemicals :: Ethylene
Higher Sales, Improved Margins Boost Westlake's Earnings
7:56 AM MDT | August 2, 2011 | Lindsey Bewley
Westlake Chemical reported second-quarter net income up 42% from the year ago quarter, to $81 million ($1.21/share), on sales up 13%, to $925 million. Income from operations was up 39%, to $138.4 million, driven by improved product margins attributable to higher sales prices for all major products and improved polyvinyl chloride (PVC) resin sales volume. “Olefins segment margins continue to benefit from our high value polyethylene product mix and low cost natural gas-based ethylene production. Vinyls margins improved largely due to higher prices for...
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