LyondellBasell Industries NV (LYB) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : LyondellBasell Industries NV (LYB)

LYB 46.42

+2.7%

Oct 31 9:30 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Savant	2/18/2011 10:50:34 PM
	of 98

LyondellBasell Swings To 4Q Profit Absent Restructuring Charges Last Update: 2/18/2011 8:37:31 AM DOW JONES NEWSWIRES LyondellBasell Industries (LYB) swung to a fourth-quarter profit as revenue surged and a gain for inventory valuation adjustments propped up the bottom line. The chemicals company emerged from Chapter 11 bankruptcy protection last year after raising $8 billion in debtor-in-possession financing, the largest such amount ever. It comes as the sector has seen demand rebound recently. The company said business conditions and results improved across the vast majority of its business in 2010, most notably in the olefins and polyolefins and propylene oxide businesses. Formed after the 2007 merger of Houston-based Lyondell and Europe-based Basell, LyondellBasell posted earnings of $874 million, or $1.54 a share, compared with a prior-year loss of $850 million. The latest results included a net gain of $151 million, or 27 cents a share, for the inventory valuation adjustments and sale gains, among other items. Meanwhile, the year-earlier quarter included a net $644 million in charges for restructuring and other items. Revenue surged 20% to $10.61 billion. Analysts polled by Thomson Reuters most recently forecast earnings of 66 cents on $10.17 billion in revenue. Shares were down 2.3% to $37.70 in premarket trading and are up 40% in the past three months.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next