HOUSTON (AP) — HOUSTON (AP) — Westlake Chemical Corp. (WLK) on Friday reported a loss of $40 million in its first quarter.
On a per-share basis, the Houston-based company said it had a loss of 31 cents.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.
The chemical company posted revenue of $2.85 billion in the period, which also missed Street forecasts. Seven analysts surveyed by Zacks expected $2.92 billion.
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