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LyondellBasell (LYB -2.4%) slips today, despite swinging to a Q4 profit as the company benefited...
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Friday, February 1, 2:36 PM ETLyondellBasell (LYB -2.4%) slips today, despite swinging to a Q4 profit as the company benefited from an easy comparison against a year-earlier period that was weighed down by debt repayment charges. Net income was $623M, or $1.09 a share, a reversal from net losses of $218M, or $0.38 a share, in the prior year period. LYB emerged from Chapter 11 bankruptcy in 2010, and like others in the chemicals industry, has benefited from low U.S. natural gas prices, although its revenue and profits had fallen of late on market weakness in Europe.
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