LyondellBasell Industries N.V. (LYB - 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 second-quarter 2017 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for LyondellBasell for the second quarter has seen a downtrend over the last 30 days. LyondellBasell has beaten the Zacks Consensus Estimate in 2 of the trailing 4 quarters while missed in the other 2 with an average negative surprise of 0.70%.
LyondellBasell’s adjusted earnings came in at $2.82 per share for the quarter. The figure beat the Zacks Consensus Estimate of $2.71.
LyondellBasell recorded revenues of $8,403 million, up roughly 14.7% year over year. The figure missed the Zacks Consensus Estimate of $8,670.5 million.
Key Stats/Developments to Note
LyondellBasell bought back 5.4 million shares during the quarter. Share buybacks and dividends totaled $0.8 billion in the reported quarter.
LyondellBasell currently has a Zacks Rank #4 (Sell), but that could change following the company’s earnings report which was just released.
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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