Nomura Securities Remains Sidelined on LyondellBasell Industries (LYB) Following 2Q - PT to $82
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LyondellBasell to Build High Density Polyethylene Plant on U.S. Gulf Coast
July 29, 2016 12:09 PM EDTHOUSTON and LONDON, July 29, 2016 /PRNewswire/ -- LyondellBasell (NYSE: LYB), one of the world's largest plastics, chemical and refining companies, has made the final investment decision to build a High Density Polyethylene (HDPE) Plant on the U.S. Gulf Coast. The plant will have an annual capacity of 1.1 billion pounds (500,000 metric tons) and will be the first commercial plant to employ LyondellBasell's new proprietary Hyperzone PE technology. The project is expected to create up to 1,000 jobs at the peak of construction and as many as 75 permanent positions. Start-up is planned for... More
LyondellBasell Reports Second-Quarter 2016 Earnings
July 29, 2016 7:00 AM EDTHOUSTON and LONDON, July 29, 2016 /PRNewswire/ --
Second Quarter 2016 Highlights
Income from continuing operations: $1.1 billion ($1.0 billion excluding LCM1) Diluted earnings per share: $2.56 per share ($2.45 per share excluding LCM) EBITDA: $1.8 billion ($1.7 billion excluding LCM) Share repurchases and dividends totaled $1.1 billion; repurchased 8.8 million shares during the second quarter, approximately 2% of the outstanding shares Authorized a fourth share repurchase program for up to an additional 10% of shares over the next 18 months Increased second quarter 2016 interim dividend by 9% to $0.85 per shareComparisons with the prior quarter and second quarter... More
