Westlake: 4Q Earnings Snapshot
HOUSTON (AP) _ Westlake Chemical Corp. (WLK) on Tuesday reported fourth-quarter profit of $123 million.
On a per-share basis, the Houston-based company said it had net income of 95 cents. Earnings, adjusted for non-recurring costs, were $1.02 per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.72 per share.
The chemical company posted revenue of $2 billion in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $2.15 billion.
For the year, the company reported profit of $996 million, or $7.62 per share. Revenue was reported as $8.64 billion.
Westlake shares have increased 22 percent since the beginning of the year. The stock has dropped 24 percent in the last 12 months.