LyondellBasell Industries N.V. (LYB - Free Report) is among the leading plastics, chemical and refining companies globally.
LyondellBasell’s adjusted earnings came in at $2.22 per share for the first quarter. It beat the Zacks Consensus Estimate of $2.20.
LyondellBasell recorded revenues of $8,778 million, down roughly 10% year over year. The figure also trailed the Zacks Consensus Estimate of $9,077.9 million.
Estimate Trend & Surprise History
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 three of the trailing four quarters with an average positive surprise of 5.2%.
Key Stats/Developments to Note
LyondellBasell said that it has witnessed signs of industry improvement in the first few weeks of April. Strong market sentiment is driving margins in its Olefins & Polyolefins - EAI segment, the company noted. Moreover, LyondellBasell is seeing volume improvement in its Olefins & Polyolefins – Americas unit. The company is also witnessing an improvement in the refining market with higher gasoline spreads and wider discounts for heavy sour crude oil.
The company noted that it will advance its growth strategy and boost earnings with a strong pipeline of licensing revenues for 2019 as well as the start-up of its world-scale HDPE plant in the third quarter.
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!
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