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LyondellBasell (LYB) Q3 Earnings and Sales Beat Estimates
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LyondellBasell Industries N.V. (LYB - Free Report) , which emerged from Chapter 11 bankruptcy in 2010, 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 is executing its expansion projects to leverage the U.S. natural gas liquids (NGLs) advantage. It remains on track with its multi-plant ethylene expansion projects across its Channelview, La Porte and Corpus Christi facilities in Texas which benefit from shale gas production. Moreover, the company remains committed to increasing shareholder returns through dividends as well as a share repurchase program, by leveraging healthy cash flows.
Let’s have a quick look at this Netherlands-based chemical giant’s third-quarter 2016 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for LyondellBasell for the third quarter has seen an uptrend over the last 30 days. LyondellBasell has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters with an average beat of 4.83%.
Earnings
LyondellBasell logged earnings of $2.31 per share for the third quarter that beat the Zacks Consensus Estimate by a penny.
Revenues
LyondellBasell recorded revenues of $7,365 million, down roughly 11.6% year over year. However, it beat the Zacks Consensus Estimate of $7,295 million.
LyondellBasell saw significant contribution from the company’s European olefins and polyolefins business in the third quarter as well as the first nine months of 2016. This has particularly helped in the company’s overall performance as the North American olefins and polyolefins business results have been negatively impacted by a heavy planned maintenance schedule. Polyolefin demand remained strong in both regions.
In October also, the company has been witnessing favorable conditions for global olefin and polyolefin industry. A slowdown in certain business lines is expected in the fourth quarter due to seasonal changes. The fourth quarter also marks the conclusion of the period of planned maintenance and associated downtime in the olefin and polyolefin assets.
Zacks Rank
LyondellBasell currently has a Zacks Rank #2 (Buy).
Market Reaction
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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LyondellBasell (LYB) Q3 Earnings and Sales Beat Estimates
LyondellBasell Industries N.V. (LYB - Free Report) , which emerged from Chapter 11 bankruptcy in 2010, 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 is executing its expansion projects to leverage the U.S. natural gas liquids (NGLs) advantage. It remains on track with its multi-plant ethylene expansion projects across its Channelview, La Porte and Corpus Christi facilities in Texas which benefit from shale gas production. Moreover, the company remains committed to increasing shareholder returns through dividends as well as a share repurchase program, by leveraging healthy cash flows.
Let’s have a quick look at this Netherlands-based chemical giant’s third-quarter 2016 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for LyondellBasell for the third quarter has seen an uptrend over the last 30 days. LyondellBasell has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters with an average beat of 4.83%.
Earnings
LyondellBasell logged earnings of $2.31 per share for the third quarter that beat the Zacks Consensus Estimate by a penny.
Revenues
LyondellBasell recorded revenues of $7,365 million, down roughly 11.6% year over year. However, it beat the Zacks Consensus Estimate of $7,295 million.
LYONDELLBASEL-A Price and EPS Surprise
LYONDELLBASEL-A Price and EPS Surprise | LYONDELLBASEL-A Quote
Key Stats/Developments to Note
LyondellBasell saw significant contribution from the company’s European olefins and polyolefins business in the third quarter as well as the first nine months of 2016. This has particularly helped in the company’s overall performance as the North American olefins and polyolefins business results have been negatively impacted by a heavy planned maintenance schedule. Polyolefin demand remained strong in both regions.
In October also, the company has been witnessing favorable conditions for global olefin and polyolefin industry. A slowdown in certain business lines is expected in the fourth quarter due to seasonal changes. The fourth quarter also marks the conclusion of the period of planned maintenance and associated downtime in the olefin and polyolefin assets.
Zacks Rank
LyondellBasell currently has a Zacks Rank #2 (Buy).
Market Reaction
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!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>