LyondellBasell Industries N.V. ( LYB Quick Quote LYB - Free Report) recently announced that it has received the International Sustainability and Carbon Certification (ISCC) Plus certification for certain grades of polyethylene and polypropylene produced at four of its U.S. manufacturing sites. It is a globally recognized certification for providing identifiable recycled and renewable-based materials across the supply chain. The certification, part of LyondellBasell’s multidimensional approach to advance the circular economy, will enable it to bring its Circulen suite of products to the North American market and offer mass balance certificates for products in this line. The company will initiate Circulen production in North America with its CirculenRevive products, which are polymers produced from plastic waste through an advanced recycling process, and has plans of gradually ramping up production to meet the growing demand over the coming years. LyondellBasell has presently obtained the certification for sites in Channelview, TX, Lake Charles, LA, La Porte, TX, and Clinton, IA and will gradually bring its other North American polymer plants under the certification framework. In addition, it continues to develop its own exclusive advanced (molecular) recycling technology to enable a more efficient and energy-saving chemical conversion technology. The company believes that through the CirculenRevive products, it has successfully lent value to plastics beyond their initial use in applications involving virgin plastic. The certification helps it to deliver more sustainable solutions to its customers as well as secure its position as the industry leader in the production and marketing of recycled and renewable-based polymers. Shares of LyondellBasell have rallied 29.1% in a year, higher than the industry’s rise of 22.1%. Image Source: Zacks Investment Research
In its second-quarter earnings call, the company stated that it expects demand for its products and financial results to remain strong. It envisions the rollout of vaccines and the reopening of businesses to support solid worldwide demand for its products in both the manufactured goods and service industries over the coming quarters.
The company expects integrated polyethylene margins to remain strong as its customers look to address order backlogs, rebuild inventories, and serve pent-up demand. It also anticipates higher mobility to drive demand for gasoline and jet fuel in the second half of 2021, contributing to improved margins in its Oxyfuels & Related Products and Refining businesses. Zacks Rank & Key Picks
Currently, LyondellBasell carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Avient Corporation ( AVNT Quick Quote AVNT - Free Report) , BASF SE ( BASFY Quick Quote BASFY - Free Report) , each flaunting a Zacks Rank #1 (Strong Buy) and The Chemours Company ( CC Quick Quote CC - Free Report) , carrying a Zacks Rank #2 (Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here Avient has a projected earnings growth rate of 75.1% for the current year. The company’s shares have surged 78.8% in a year. BASF has a projected earnings growth rate of 96.7% for the current year. The company’s shares have rallied 19.3% in a year. Chemours has a projected earnings growth rate of roughly 86.4% for the current year. The company’s shares have grown 54% in a year.