Westlake earnings up 149% YOY on strong PE, PVC

摘要

Westlake Chemical (Houston, Texas) says higher sales prices and integrated margins for polyethylene (PE) and polyvinyl chloride (PVC) plus strong demand in the downstream building products business drove a sharp year-over-year (YOY) increase in first-quarter profits. Net income for the quarter totaled $242 million, up 149% YOY from $97 million, on sales of $2.357 billion, up 22% YOY from $1.932 billion. Earnings per diluted share came to $1.87, beating the consensus estimate of $1.56, as compiled by Zacks Investment Research.