HOUSTON (AP) — HOUSTON (AP) — Westlake Chemical Corp. (WLK) on Monday reported fourth-quarter profit of $7 million.
The Houston-based company said it had net income of 6 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The chemical company posted revenue of $2.84 billion in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $2.9 billion.
For the year, the company reported profit of $602 million, or $4.64 per share. Revenue was reported as $12.14 billion.
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