Westlake Chemical Corp. (WLK) reported fourth-quarter net income of $95.3 million, or $1.42 per share, up from $26.4 million or $0.40 per share in the fourth quarter of 2011. Analysts polled by Thomson Reuters expected the company to report earnings of $1.22 per share for the quarter. Analysts' estimates typically exclude special items.
Income from operations was $156.2 million for the fourth quarter of 2012 compared to $50.5 million for the fourth quarter of 2011. Fourth quarter of 2012 income from operations was higher primarily as a result of significantly lower feedstock costs, which resulted in higher integrated margins for Olefins and Vinyls segments.
The Olefins segment reported income from operations of $143.2 million in the fourth quarter of 2012, an increase of $67.3 million compared to $75.9 million reported in the fourth quarter of 2011. The increase was primarily due to higher integrated olefins margins largely resulting from lower feedstock costs.
The Vinyls segment reported income from operations of $18.2 million in the fourth quarter of 2012, an improvement of $37.8 million as compared to a loss from operations of $19.6 million in the fourth quarter of 2011. The increase in operating income was primarily the result of higher integrated Vinyls margins generally resulting from lower feedstock costs and higher caustic and building products sales volumes.
Net sales for quarter declined to $801.0 million from $859.2 million in the fourth quarter of 2011, primarily due to lower sales volumes for feedstocks, polyethylene and styrene, partially offset by higher prices for styrene and higher building products sales volumes. Ten analysts had consensus revenue estimate of $832.69 million for the quarter.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.