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LyondellBasell's Earnings Soar After Restructuring

8:23 AM MDT | August 16, 2010 | Lindsey Bewley

LyondellBasell reported second-quarter net income of $203 million, excluding a net $8.6 billion after-tax gain on the discharge of liabilities subject to compromise and fresh-start accounting adjustments. Sales were up 7.2%, to $10.4 billion. Excluding reorganization items and a $333 million non-cash lower of cost or market inventory charge, second-quarter 2010 earnings before interest, income taxes, depreciation and amortization, and restructuring costs was $1.4 billion.

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