Axiall reported $776.1 million in revenue, which fell short of analysts' projected $837.98 million. Earnings came in at 12 cents per share, surpassing analysts estimations of 1 cent per share.
For the 2015 second quarter, the Atlanta-based chemical and building product manufacturer posted earnings of 33 cents per share on revenues of $869.2 billion.
The company saw $578.4 million in sales for its chlorovinyls segment, down from $666.1 million in 2015. Axiall said the decrease stemmed from lower PVC, VCM and chlorinated derivatives sales prices and lower electrochemical unit values, among other factors.
In June, the Houston-based chemical, vinyl and polymer company Westlake Chemical Corporation (WLK) purchased Axiall for $3.8 billion, a transaction that Axiall said they hope will be completed "as expeditiously as possible."
Shares of Axiall were up in mid-morning trading on Monday.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate AXIALL CORP as a Sell with a ratings score of D+. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins and feeble growth in its earnings per share.
You can view the full analysis from the report here: AXLL