UPDATE: Westlake Q3 Profit Rises 28%
Westlake Chemical (NYSE: WLK) reported a 28% rise in its third-quarter profit.
Westlake's quarterly profit surged to $87 million, or $1.30 per share, from $67.9 million, or $1.01 per share, in the year-ago period.
Its revenue fell 15% to $821.2 million. However, analysts were expecting earnings of $1.36 per share on revenue of $902 million.
Westlake's gross margin rose to 21% from 15.2%.
Westlake shares closed at $78.35 yesterday.
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