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LyondellBasell (LYB) Q1 Earnings, Sales Beat Estimates

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LyondellBasell Industries N.V. (LYB - Free Report) is among the leading plastics, chemical and refining companies globally. 
 
Earnings
 
LyondellBasell’s earnings came in at $3.11 per share for the first quarter. It surpassed the Zacks Consensus Estimate of $2.80.
 
Revenues
 
LyondellBasell recorded revenues of $9,767 million, up roughly 15.9% year over year. It also beat the Zacks Consensus Estimate of $9,392 million.
 
LyondellBasell Industries N.V. Price and EPS Surprise
 
Investors should note that the earnings estimate for LyondellBasell for the first quarter has seen a downtrend over the last 30 days. LyondellBasell has beaten the Zacks Consensus Estimate in two of the trailing four quarters while missing in the other two with an average positive surprise of 2.14%.
 
Key Stats/Developments to Note
 
Moving forward, the company sees seasonal margin improvements in oxyfuels and refining. It also expects to benefit from continued high operating rates in the second quarter. The imbalance between ethylene production and consumption is expected to improve as the downstream derivative units attain full operating rates, the company also noted.  Strong global demand and higher oil prices continue to support strong polyolefin pricing, it added. 
 
Zacks Rank
 
LyondellBasell currently has a Zacks Rank #4 (Sell). Meanwhile, you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
 
Market Reaction
 
LyondellBasell’s shares were up 2.8% in pre-market trading. 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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