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Markets :: Basic Chemicals :: Petrochemicals :: Propylene
LyondellBasell's Earnings Soar on Strong Sales and Improved Margins
9:18 AM MDT | May 2, 2011 | Lindsey Bewley
LyondellBasell reported first quarter net income of $660 million, up from $8 million in the year-ago period, on stronger sales volumes and improved margins in most of its business segments. Sales were up 25%, to $12.2 billion. “During the first quarter, we again demonstrated the earnings potential of our company as margins increased in nearly all businesses, despite significant raw material pricing pressures,” says Jim Gallogly, CEO of LyondellBasell. “Ebitda of $1.4 billion reflects solid operations, an improved cost structure and...
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