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 EDT

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Savant	3/18/2011 11:05:19 AM
	of 98

LyondellBasell Industries (LYB) revised its fourth-quarter earnings downward after correcting its tax accounting. The company disclosed in a regulatory filing Friday that its profit was $766 million, or $1.34 a share, down from the $874 million, or $1.54 a share, it had reported earlier. The chemicals company--formed after the 2007 merger of Houston-based Lyondell and Europe-based Basell--emerged from Chapter 11 bankruptcy protection last year after raising $8 billion in debtor-in-possession financing, the largest such amount ever. LyondellBasell said it needed to reclassify asset impairments and gains from the sale assets, as well as reduce its goodwill and deferred income taxes. Shares of LyondellBasell closed at $38.99. As of the close, the stock had risen 13% so far this year.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next