This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Westlake Chemical Management Discusses Q2 2012 Results - Earnings Call Transcript

Ethane and propane feedstock prices declined significantly in the second quarter as the supply of these feedstocks outstripped demand. Westlake is one of the best-positioned producers to leverage this NGL feedstock advantage for the benefits in the second quarter, and we are making further investments to bolster this competitive advantage.

The sustained favorable oil-to-gas ratio has provided margin expansion opportunities to ethane-based ethylene producers such as Westlake and continues to encourage an increasing supply of ethane-attractive economics NGL extraction for the oil and gas producers.

All of these dynamics are game changers for industry and provide a foundation for Westlake and other North American light-cracking ethylene producers to be globally competitive for many years to come.

Now let me turn over to Steve for a more detailed look at our financial and operating results for the second quarter.

M. Steven Bender

Thank you, Albert, and good morning, everyone. I will begin with a discussion of our consolidated financial results, followed by a more detailed discussion of our Olefins and Vinyls segment results.

Let me start with our consolidated results. As reported in this morning's press release, Westlake reported record earnings in the second quarter of $115.5 million or $1.72 per diluted share, an improvement of 43% from the $81 million or $1.21 per share reported in the second quarter of 2011.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs