Westlake results down on lower prices

摘要

Westlake Chemical Corp. (Houston) reports net income of $123.1 mil- lion for the second quarter ended March 31, down 15.8% year-over-year (YOY). Net sales decreased 11.6% YOY, to $975.2 million from net sales of $1.1 billion, mainly due to lower sales prices for all of the company's major products, including olefns and vinyls products. Adjusted earn- ings were 94cts/share, down 14.5% YOY, but beating the average analyst estimate of 93 cts/share as compiled by Thomson Reuters (New York).