Markets :: Basic Chemicals :: Petrochemicals :: Butadiene
Higher Butadiene Selling Prices Lift TPC Group's Profits
8:21 AM MDT | April 27, 2012 | Lindsey Bewley
TPC Group reported first-quarter net income of $18.0 million, up 58% from the year-ago quarter, on higher butadiene selling prices. Sales rose 9%, to $606 million, driven by higher average unit selling prices. “The contract price of butadiene increased 49% during the first quarter of 2012 and had a positive impact of $17 million,” the company says. “We performed well against a strong prior year quarter, despite the challenges of lower feedstock volume from the abnormally high concentration of ethylene plant outages and the continued...
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