Home / Knowledge / News / Textiles / Turnarounds pull down EPS at LyondellBasell in Q3
Turnarounds pull down EPS at LyondellBasell in Q3
29
Oct '13
LyondellBasell Industries announced earnings from continuing operations for the third quarter 2013 of $1.51 diluted earnings per share or $854 million. Third quarter 2013 EBITDA was $1,531 million. 

Third-Quarter 2013 Highlights

- Diluted earnings per share of $1.51; $854 million income from continuing operations

-EBITDA of $1,531 million

- Solid earnings and cash flow continued, supported by reliable operations and favorable crude oil and natural gas environment

- Completed scheduled maintenance turnaround at Clinton ethylene and polyethylene facility

- 13.5 million shares repurchased during the quarter

"We achieved solid third quarter results, with earnings of $1.51 per share and EBITDA of $1.53 billion," said CEO Jim Gallogly.  "This performance is sequentially down from the prior quarter due to scheduled maintenance at U.S. olefins and polyolefins site and fewer market-related opportunities in our European olefins and polyolefins business. Refining results again proved difficult, pressured by an oversupplied gasoline market, spending for RIN's and plant maintenance." 

"During the quarter, we advanced our capital deployment program, purchasing shares and declaring dividends totaling $1.3 billion. Since authorization of the share repurchase program in May 2013 and through the close of the third quarter, approximately three percent of our outstanding shares have been repurchased," Gallogly said.

"Overall, we continued a pattern of steady results seen in recent quarters. Underlying this performance were safe, reliable operations coupled with the North American natural gas advantage. We are taking steps to further capitalize on this advantage.

"We are making significant progress on our expansion projects which will come online over the next two years.  First up will be the fourth-quarter completion of the methanol restart project followed by our La Porte ethylene debottleneck expansion mid next year. We expect to see our growth projects completed significantly ahead of our competition and add to our strong earnings profile," Gallogly said.

OUTLOOK

"The fundamentals that have supported our results remained intact during October. However, we have historically seen margin compression in products such as oxyfuels in winter months and slower polyolefin sales around the holiday season," Gallogly said.

Click here to read full results

LyondellBasell

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Textiles | On 30th Mar 2017

Azerbaijan cotton industry created 64,000 jobs last year

Cotton industry in Azerbaijan created 64,000 jobs in 2016, and a...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search