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PetroLogistics earnings up on propylene spread

1:03 PM MDT | April 25, 2013 | Clay Boswell

PetroLogistics (Houston) on Thursday reported first-quarter 2013 net income of $57.1 million, up from a loss of $45.4 million in the first quarter of 2012. Sales totaled $208.7 million, down 11% year-over-year. Adjusted net income was $83.0 million, up 42% from the year-ago period. "Results for the first quarter represented a significant improvement from the challenging conditions experienced during most of the second half of last year," says Nathan Ticatch, president and CEO. "Propylene prices were strong, and we continued to enjoy attractive...

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