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LyondellBasell reports 20% earnings gain

2:19 PM MDT | July 26, 2013 | Clay Boswell

LyondellBasell reported second quarter earnings of $923 million, up 20% year-over-year (YOY). Diluted earnings per share of $1.60 fell 3 cts short of the consensus estimate. "Overall, it was a strong quarter," says Jim Gallogly, LyondellBasell CEO. “We achieved record quarterly earnings and advanced our plans for the future on several fronts.” Gallogly says that the company’s three-year-old “back-to-basics” strategy continues to yield strong results and returns. “This was particularly evident in both our U.S. and...

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