Westlake Chemical Corp (WLK) Tops Q1 EPS by 5c

Westlake Chemical Corp (NYSE: WLK) reported Q1 EPS of $1.18, $0.05 better than the analyst estimate of $1.13. Revenue for the quarter came in at $1.03 billion versus the consensus estimate of $975.86 million.

Albert Chao, President and Chief Executive Officer, said "We are pleased to report a 28% increase in first quarter net income as compared to the first quarter of last year despite the negative impact on earnings related to elevated propane costs, severe winter weather and the Calvert City planned maintenance turnaround. We also successfully completed the Calvert City ethylene plant conversion to ethane feedstock and its expansion by 180 million pounds a year in capacity in early April which allows our Vinyls segment to capture the advantageous ethylene cost position our Olefins segment has been benefitting from over the past several years and that we expect will continue into the foreseeable future."

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

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