LyondellBasell Industries N.V. (LYB - Free Report) is among the leading plastics, chemical and refining companies globally.
LyondellBasell’s adjusted earnings came in at $3.34 per share for the second quarter. It surpassed the Zacks Consensus Estimate of $2.90.
LyondellBasell recorded revenues of $10,206 million, up roughly 21.5% year over year. It also beat the Zacks Consensus Estimate of $9,111.1 million.
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 three of the trailing four quarters while missing once, with an average positive surprise of 5.7%.
Key Stats/Developments to Note
LyondellBasell stated that it is well-positioned to drive earnings growth over the coming quarters with operational and market improvements in Refining, strong performance in Intermediates and Derivatives, the A. Schulman buyout and the start-up of Hyperzone HDPE plant in 2019. Earnings are also expected to benefit from increased profitability for its refinery, which should benefit from the impact of new marine fuel regulations in the second-half of 2019.
LyondellBasell currently has a Zacks Rank #3 (Hold). Meanwhile, you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
LyondellBasell’s shares were inactive 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!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>