MOSCOW (MRC) -- Westlake Chemical Corp. released its fourth-quarter earnings report. The company had USD0.84 in earnings per share (EPS) on USD986.8 million in revenue, versus Thomson Reuters consensus estimates of USD0.99 in EPS on revenue of USD1.03 billion, said the Wall Street Journal.
In the same period of the previous year, it posted EPS of USD1.40 and USD1.14 billion in revenue.
In the fourth quarter, the Olefins segment reported income from operations of USD138.7 million, a decrease of USD104.9 million compared to USD243.6 million in the same period from last year.
At the same time, the Vinyls segment reported income from operations of USD51.6 million, compared to income from operations of USD66.3 million in the fourth quarter of 2014, a decrease of USD14.7 million.
Net cash provided by operating activities was USD1.08 billion in 2015. Capital expenditures for 2015 were USD491.4 million. At the end of December 2015, cash and marketable securities totaled USD1.18 billion, compared to USD880.6 million in the same period from last year.
As MRC informed earlier, Axiall Corp, a U.S. chemical and building products maker, said it had rejected Westlake Chemical Corp's USD1.4 billion cash-and-stock offer, dismissing it as an attempt to scoop up its vinyls assets on the cheap. Westlake, a Houston-based manufacturer and supplier of petrochemicals, polymers and building products, had argued that the combined company would be more diversified and have a stronger financial profile than Axiall on its own.
Westlake Chemical Corporation is a U.S. manufacturer and supplier of petrochemicals and polymers, headquartered in Houston, Texas. The range of company's products includes ethylene, polyethylene, styrene, propylene, caustics, polyvinyl chloride and plastic products. Westlake is one of the major ethylene producers in the US and its Calvert City operation is a large integrated PVC site.
MRC