IHS Chemical Week

Westlake misses estimates

10:48 AM MDT | August 5, 2014

Westlake (Houston) reports second-quarter net income of $169.4 million, up 35% year-over-year (YOY), on sales of $998.6 million, up 7% YOY. However, earnings of $1.26/share fell short of the analysts’ consensus estimate of $1.45, as reported by Thomson Reuters. Westlake attributes the sales gain mainly to higher prices for most major olefins products and higher volumes for polyethylene, styrene and caustic soda. However, the planned maintenance turnaround of the Calvert City, KY, complex and the conversion of the ethylene plant from propane to ethane feedstock...

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