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Westlake Chemical Q3 profit climbs 226.5% YOY

Westlake Chemical Corp. said its third-quarter normalized net income was $1.55 per share, compared with the S&P Capital IQ consensus estimate of $1.47 per share.

EPS climbed 225.2% year over year from 48 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $200.7 million, an increase of 226.5% from $61.5 million in the year-earlier period.

The normalized profit margin climbed to 9.5% from 4.8% in the year-earlier period.

Total revenue increased 64.9% on an annual basis to $2.11 billion from $1.28 billion, and total operating expenses grew 51.0% year over year to $1.74 billion from $1.15 billion.

Reported net income grew 216.9% year over year to $209.1 million, or $1.61 per share, from $66.0 million, or 51 cents per share.