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People & Business :: Companies

Westlake earnings leap 40% YOY, beat street estimate (corrected)

10:00 AM MDT | May 7, 2013 | Clay Boswell

(This story has been corrected. An earlier version stated that Westlake's first quarter net income increased by 190% YOY, whereas the actual increase was 40%. We regret the error.) Westlake Chemical (Houston) on Monday posted first-quarter net income of $123.3 million, up 40% year-on-year (YOY) from $87.8 million. Earnings of $1.84 per diluted share beat the analyst consensus estimate of $1.82 reported by Thomson Reuters. "We continue to benefit from a globally advantaged energy and feedstock position resulting from North American shale gas and oil...

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