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Westlake tops 3Q profit forecasts

HOUSTON (AP) _ Westlake Chemical Corp. (WLK) on Tuesday reported third-quarter profit of $210.8 million.

On a per-share basis, the Houston-based company said it had profit of $1.61. Earnings, adjusted for non-recurring costs, came to $1.65 per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.

The chemical company posted revenue of $2.11 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $2.12 billion.

Westlake shares have increased 54 percent since the beginning of the year. The stock has increased 71 percent in the last 12 months.

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