LyondellBasell Narrowly Beats Estimates on Improved Margins

LyondellBasell reported first quarter net income down 10% compared with the year-ago quarter, to $599 million, on sales down 3%, to $11.88 billion. Excluding charges, earnings per share were $1.07, slightly beating the consensus of analysts' estimates of $1.06/share. Higher margins from shale gas derived production in North America offset weakness in Europe, the company says. “During the first quarter 2012, results improved across all business segments over the fourth quarter 2011. The most notable improvements were in the Olefins & Polyolefins/Americas...

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