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Chemical Week Magazine :: Business & Finance :: United States/Americas

Commodity and diversified results continue to be mixed

5:32 PM MDT | August 12, 2013 | CW Staff

Second-quarter results at US basic and diversified firms benefitted from acquistions and access to cost-advantaged feedstocks, although slow global economic growth continues to dampen sentiment. LyondellBasell Industries’ earnings increased 20% year-on-year (YOY), although diluted earnings of $1.60/share fell 3 cts short of the consensus estimate. “Overall, it was a strong quarter,” says Jim Gallogly, LyondellBasell CEO. “Our integrated assets and diversified portfolio of US olefins and intermediates and derivatives businesses remain very...

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