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Markets :: Plastics :: Polyvinyl chloride
Higher Feedstock Costs Drive Down Earnings at Westlake Chemical
8:10 AM MST | February 21, 2012 | Lindsey Bewley
Westlake Chemical reported fourth-quarter 2011 net income of $26.4 million, down 68% from the year-ago period, primarily due to higher feedstock costs. Sales were up 8%, to $859.2 million, on higher sales volumes for polyethylene, styrene and PVC resin and higher sales prices for building products and caustic soda. Income from operations for the company’s olefins segment fell 50%, to $75.9 million, on higher feedstock costs. Sales were up 10% from the year-ago quarter, to $621.7 million Westlake’s vinyls segment reported a loss from...
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