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HOUSTON (AP) — HOUSTON (AP) — Westlake Chemical Corp. (WLK) on Tuesday reported a loss of $497 million in its fourth quarter.
The Houston-based company said it had a loss of $3.86 per share. Earnings, adjusted for asset impairment costs and non-recurring costs, came to 72 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The chemical company posted revenue of $2.83 billion in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $2.85 billion.
For the year, the company reported profit of $479 million, or $3.70 per share. Revenue was reported as $12.55 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WLK at https://www.zacks.com/ap/WLK