Westlake Q1 income up 108% YOY

摘要

Westlake Chemical (Houston, Texas) reports frst-quarter net income of $287 million, up 108% year-over-year (YOY), on higher margins, lower taxes, and increased caustic soda and polyvinyl chloride (PVC) volumes. Sales totaled $2.150 billion, up 11% YOY. Diluted earnings per share totaled $2.20, up 108% YOY and ahead of the average analyst esti- mate of $2.16 as compiled by Thomson Reuters (New York). “Demand remains strong for our products in both the olefns and vinyls segments due to continued growth in the Americas, Europe and Asia, and we continue to beneft from the investments made in 2017 to improve our operations and reliability," says Albert Chao, president and CEO. "We are working diligently on the recently announced expansions in our vinyls segment and remain focused on capturing the targeted synergies and cost reductions as well as other opportunities that will improve our operations across the company."