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Axiall reports first-quarter net income of $45 million, misses estimates

9:15 AM MDT | May 8, 2013 | Clay Boswell

Axiall on Tuesday reported adjusted net income for the quarter totaled $45.1 million, up 63% year-on-year (YOY) from $27.6 million. Adjusted earnings per share were 75 cts/share, down 5% YOY and well short of the average analyst consensus estimate of $1.31/share reported by Thomson Reuters.   Shares traded on the New York Stock Exchange dropped 9%, to $47.38, in the first hour and a half of trading Wednesday morning.   The company reported a first-quarter net loss of $3.5 million, down 110% YOY from $35.3 million. Net sales were $1.1 billion, up...

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