Westlake Chemical Q2 Profit Rises - Quick Facts

(RTTNews) - Westlake Chemical Corp. (WLK) reported that its second-quarter net income increased to $145.8 million, or $2.17 per share, from $115.5 million, or $1.72 per share, prior year.

On average, nine analysts polled by Thomson Reuters expected the company to report profit pr share of $1.94 for the quarter. Analysts' estimates typically exclude special items.

Net sales rose to $939.0 million, from $914.0 million, last year. Analysts expected revenue of $947.99 million for the quarter.

Albert Chao, President and Chief Executive Officer of Westlake Chemical, said, "We are pleased to report record quarterly earnings largely driven by lower cost natural-gas based ethylene production resulting from North American shale gas and oil production. In addition, our Vinyls segment continues to improve as the U.S. economy slowly recovers."