IHS Chemical Week

LyondellBasell finishes record year with strong quarter

11:46 AM MST | February 3, 2014

Strong performance in the Americas and a tax benefit lifted LyondellBasell Industries’ fourth-quarter net income to $1.175 billion, up 89% year-on-year (YOY) from $623 million, says the company, and 38% from the third quarter’s $851 million. Earnings of $2.11/share handily surpassed the consensus estimate of $1.40 reported by Thomson Reuters. A lower effective tax rate related to the release of reserves against European net operating losses increased income relative to the third quarter, says LyondellBasell. Sales for the fourth quarter totaled $11.14...

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