Lyondellbasell (LYB) Reports In-Line Q2 EPS
Lyondellbasell (NYSE: LYB) reported Q2 EPS of $1.38, in-line with the analyst estimate of $1.38. Revenue for the quarter came in at $14.04 billion versus the consensus estimate of $13.39 billion.
"During the second quarter, we continued to demonstrate the earnings potential of our company as margins increased over already strong first-quarter levels," said LyondellBasell Chief Executive Officer Jim Gallogly. "Our EBITDA of more than $1.5 billion brings our first half EBITDA to nearly $3 billion."
"Following a very strong first half of the year, we remain positive about the balance of 2011," commented Gallogly. "The Chinese polyolefins market is giving indications that it is recovering from its soft patch and although U.S. and European polymer markets are still adjusting to this disruption, we are entering a period of significant industry maintenance. Since our key U.S. maintenance projects have been completed for the year, we should be the beneficiary of tightened supply/demand conditions and any opportunities that this may create," continued Gallogly.
"During the second quarter, we continued to demonstrate the earnings potential of our company as margins increased over already strong first-quarter levels," said LyondellBasell Chief Executive Officer Jim Gallogly. "Our EBITDA of more than $1.5 billion brings our first half EBITDA to nearly $3 billion."
"Following a very strong first half of the year, we remain positive about the balance of 2011," commented Gallogly. "The Chinese polyolefins market is giving indications that it is recovering from its soft patch and although U.S. and European polymer markets are still adjusting to this disruption, we are entering a period of significant industry maintenance. Since our key U.S. maintenance projects have been completed for the year, we should be the beneficiary of tightened supply/demand conditions and any opportunities that this may create," continued Gallogly.