Westlake Beats Analyst Estimates on Lower Feedstock Costs, Improved Demand

Westlake reported first quarter 2012 net income of $87.8 million, up 4.8% from the year-ago quarter on lower feedstock costs, improved demand, and high operating rates. Sales increased 6.1%, to $1.03 billion. Earnings were $1.31/share, ahead of the consensus of analysts’ estimates of $1.26/share. Operating income from olefins segment sales was $129.2 million, down about 12% from the year-ago quarter. Operating income from the vinyl segment was $21.1 million, compared with a loss of $2.8 million in the same year-ago quarter. For the vinyls segment, income...

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