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Markets :: Basic Chemicals :: Petrochemicals :: Ethylene
Westlake's Earnings Boosted by Improved Sales, Higher Margins
8:01 AM MDT | May 4, 2010 | Lindsey Bewley
Westlake Chemical reported first-quarter 2010 net income of $17.6 million, nearly tripling from the year-ago quarter, on sales of $778.3 million. Earnings per share were 27 cts/share, falling short of analysts’ estimates of 29 cts/share, as reported by Thomson Reuters. Sales increased 59% compared to the first quarter of 2009 due to higher sales prices and sales volumes driven by higher feedstock prices and rising demand. Sales volumes benefited from continued strength in domestic polyethylene (PE) markets and seasonal increases in polyvinyl chloride (PVC)...
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