Westlake Chemical Q4 Profit Soars - Quick Facts

(RTTNews) - Westlake Chemical Corp. (WLK) reported fourth quarter net income of $170.97 million or $2.54 per share, higher than $95.28 million or $1.42 per share in the prior-year quarter.

On average, ten analysts polled by Thomson Reuters expected the company to report earnings of $2.23 per share for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the quarter increased to $951.63 million from $801.04 million in the same quarter last year. Analysts expected the company to generate revenues of $924.24 million.

Sales growth is attributable to higher sales prices for polyethylene, styrene and PVC resin and higher sales volumes for most of the company's major products.