Westlake: 2Q Earnings Snapshot

Westlake: 2Q Earnings Snapshot

Associated Press

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WLK at https://www.zacks.com/ap/WLK