Westlake Chemical (WLK) Misses Q2 EPS by 40c, Revenues Beat

Westlake Chemical (NYSE: WLK) reported Q2 EPS of $2.12, $0.40 worse than the analyst estimate of $2.52. Revenue for the quarter came in at $2.24 billion versus the consensus estimate of $2.2 billion.

• Record quarterly net sales of $2,235 million
• Record quarterly income from operations of $404 million
• Net income attributable to Westlake for the three months ended June 30, 2018 of $278 million, or $2.12 per diluted share

"We are very pleased with the results for the second quarter and first six months of 2018. We saw strong global demand for all of our products in both our Olefins and Vinyls segments while benefitting from the investments made in 2017 to improve our operations and reliability,” said Albert Chao, President and Chief Executive Officer. "We are working diligently on capturing the targeted synergies and cost reductions associated with the Axiall acquisition while remaining focused on the recently announced expansions in our Vinyls segment and identifying other opportunities that will improve our operations across the company."

For earnings history and earnings-related data on Westlake Chemical (WLK) click here.

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