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Markets :: Basic Chemicals :: Petrochemicals :: Ethylene

Westlake's Earnings Soar on Improved Olefins Margins and Stronger Vinyl Sales

10:15 AM MST | February 22, 2011 | Lindsey Bewley

Westlake Chemical reported fourth-quarter net income of $84.1 million ($1.26/share), nearly 7 times higher than the year-ago period, and beating analysts’ estimates of 74 cts/share, as reported by Thomson One (New York). Sales were up 26%, to $795.4 million, on higher sales prices and higher sales volumes for polyvinyl chloride (PVC) and caustic soda.   Income from operations was $137.1 million, about six times higher than the year-ago quarter, on improved margins in the olefins segment and higher vinyls sales volumes and operating rates driven by...

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