EBITDA crossed US$2 bln for the first time at LyondellBasell Industries in Q3-2014, as the company posted its second consecutive quarter of record earnings. Earnings from continuing operations for Q3-2014 stood at US$1.3 bln, or $2.46 diluted earnings per share.
“We are pleased to deliver a second consecutive quarter of record earnings, and our best quarter ever as a tight US ethylene market helped drive the record earnings," CEO Jim Gallogly said. Third quarter of 2014 includes a $45 million non-cash charge for the impact of a lower of cost or market (LCM) inventory adjustment."
Late in to the third quarter, LyondellBasell initiated production at the 800 mln lb pa- La Porte ethylene expansion. In addition, the company announced development of two new growth projects- a further expansion of its Channelview olefins complex and a new US Gulf Coast PO/TBA plant.
31-Oct-14 
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