LyondellBasell Industries N.V. (LYB - Free Report) is among the leading plastics, chemical and refining companies globally.
LyondellBasell’s adjusted earnings came in at $1.83 per share for the fourth quarter. It missed the Zacks Consensus Estimate of $2.13.
LyondellBasell recorded revenues of $8,876 million, down roughly 2.8% year over year. The figure also trailed the Zacks Consensus Estimate of $9,222 million.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for LyondellBasell for the fourth quarter has seen a downtrend over the last 30 days. LyondellBasell has beaten the Zacks Consensus Estimate in each of the trailing four quarters with an average positive surprise of 10.8%.
Key Stats/Developments to Note
LyondellBasell has witnessed normalization of markets with higher polymer demand and modest improvements in the discount for Maya crude oil during the first few weeks of 2019. The company expects its growth to accelerate this year, courtesy of the planned startup of its Hyperzone polyethylene facility and construction of its new PO/TBA plant.
Per the company, global polyethylene capacity additions are likely to moderate in 2019 and 2020. This is expected to provide support for high industry operating rates and ethylene chain profitability.
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.
LyondellBasell’s shares were down 1.9% 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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