Shares Of Westlake Rise Today: Here's Why

Shares of Westlake Corp WLK are up today following a better-than-expected second-quarter earnings report.

Earnings per share was estimated at $6.02 and the company reported a figure of $6.60. Revenues were estimated at $4.270 billion and was beat with a figure of $4.483 billion. 

"The Partnership's performance in the second quarter of 2022 reflects continuing strong production volumes across all of our ethylene units. We are well positioned to continue to deliver solid distributions as a result of our sales agreement with Westlake that provides a fixed margin on 95% of our production...As we look ahead to the second half of 2022, we remain confident in continuing to provide premium value, strong returns and predictable cash flows to our unitholders" President and CEO Albert Chao shared.

Price Action: Shares are up 2.93% as the price reaches $100 during today's pre-market session, according to Benzinga Pro.

Photo: Courtesy of  Julia Koblitz on Unsplash

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