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UPDATE: Westlake Chemical Posts Higher Q4 Profit

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Westlake Chemical (NYSE: WLK) reported a surge in its fourth-quarter profit.

Westlake's quarterly profit rose to $95.3 million, or $1.42 per share, from $26.4 million, or $0.40 per share, in the year-ago period.

Its revenue declined 6.8% to $801 million. However, analysts were expecting earnings of $1.22 per share on revenue of $829.5 million.

Its gross margin rose to 23.8% from 9%.

Westlake shares closed at $91.83 on Friday.

Posted-In: profitEarnings News

 

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