LyondellBasell Industries N.V. (LYB Quick QuoteLYB - Free Report) is among the leading plastics, chemical and refining companies globally. The company’s products are used across a bevy of industries including electronics, automotive parts, packaging, construction materials and biofuels. LyondellBasell is a leading producer of olefins and polyolefins globally.

 

LyondellBasell continues to benefit from the favorable North American natural gas environment. The company is executing its expansion projects to leverage the U.S. natural gas liquids (NGLs) advantage. LyondellBasell also remains committed to boosting shareholder returns by leveraging healthy cash flows.

 

Let’s have a quick look at this Netherlands-based chemical giant’s third-quarter 2017 release.

 

Investors should note that the earnings estimate for LyondellBasell for the third quarter has seen a downtrend over the last 30 days. LyondellBasell has beaten the Zacks Consensus Estimate in three of the trailing four quarters while missed in one with an average positive surprise of 1.2%.

 

 

LyondellBasell’s adjusted earnings came in at $2.41 per share for the quarter. The figure missed the Zacks Consensus Estimate of $2.43.

 

 

LyondellBasell recorded revenues of $8,516 million, up roughly 15.6% year over year. The figure beat the Zacks Consensus Estimate of $8,090 million.

 

 

LyondellBasell noted that Hurricane Harvey led to reduced inventories across the petrochemical industry. This has resulted in further delays in the startup of new U.S. ethylene and derivative capacity. The company expects global markets to remain tight to balanced for the rest of 2017 as the industry works to rebuild inventories during the fourth quarter.

 

 

LyondellBasell currently has a Zacks Rank #2 (Buy).

 

 

LyondellBasell’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.

 

Check back later for our full write up on LyondellBasell’s earnings report!

 

 

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