Westlake's Income Boosted by Strong Olefins and Chlor-Alkali Sales

Westlake Chemical reported first-quarter net income of $83.5 million ($1.25/share), nearly five times higher than the year-ago quarter, on sales of $867.3 million, which were driven by higher sales prices for all major products and higher caustic soda and PVC resin sales volumes.    Income from operations more than quadrupled, to $140.6 million, due to a 14.1% increase in product prices, higher production rates, improved PVC resin sales volume and lower ethane costs, Westlake says.   Operating income in the company’s olefins segment nearly...

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