LyondellBasell Industries (LYB) reported that its first-quarter net income attributable to the company shareholders increased to $901 million from $600 million in the prior year quarter. On a per share basis, net income was $1.55, up from $1.04 in the same quarter last year.
Sales and other operating revenues were $10.67 billion, down from $11.73 billion in the year ago quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.45 per share on revenues of $11.14 billion for the quarter. Analysts' estimates typically exclude special items.
"Overall, the trends of the previous quarters continued into early April. Our Olefins and Polyolefins - Americas and Intermediates and Derivatives segments continued to benefit from the shale gas developments," said Jim Gallogly, LyondellBasell Chief Executive Officer.
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