Albert Chao, CEO of Westlake Chemical.

Westlake Chemical on Tuesday reported a profitable third quarter as the global economy continues to recover from the pandemic and demand and prices for petrochemicals and other energy products increased.

The Houston chemical manufacturer said it earned a $607 million profit in the third quarter, compared with a $57 million profit during the same period a year earlier. Revenue increased to $3.06 billion, a 62 percent increase from $1.9 billion in the third quarter of 2020.

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The increases in income from operations were driven by higher sales prices and margins for most of the company’s major products, including polyvinyl chloride resin for Westlake’s building products business segment. PVC is used to make pipes, window frames, vinyl siding and flooring.

Demand for PVC benefited from the continued strength of residential construction coupled with demand from the repair and remodeling markets, the company said.

Additionally, the olefins business experienced strong demand. Olefins are used in materials for packaging, detergents and adhesives. 

Marcy de Luna is a former business reporter for the Houston Chronicle. 

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