Westlake: 2Q Earnings Snapshot
HOUSTON (AP) _ Westlake Chemical Corp. (WLK) on Thursday reported second-quarter earnings of $278 million.
The Houston-based company said it had profit of $2.12 per share. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, were $2.45 per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.52 per share.
The chemical company posted revenue of $2.24 billion in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $2.16 billion.
Westlake shares have increased 1 percent since the beginning of the year. The stock has risen 53 percent in the last 12 months.