LyondellBasell Industries N.V. (NYSE:LYB) is among the leading plastics, chemical and refining companies globally.
Earnings
LyondellBasell’s adjusted earnings came in at $1.91 per share for the fourth quarter. It missed the Zacks Consensus Estimate of $2.26.
Revenues
Revenues went down 7.9% year over year to $8,179 million in the reported quarter. The figure also trailed the consensus mark of $8,427.1 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 60 days. LyondellBasell has missed the Zacks Consensus Estimate in three of the trailing four quarters with an average negative surprise of 4.8%.
Key Stats/Developments to Note
LyondellBasell expects normal seasonal improvements in its businesses gradually through the second and third quarters of 2020. The company believes that a rebound in industrial demand as well as favorable resolution of trade policies will provide substantial upside for the industry. It believes that the foundations of cost management, operational excellence and disciplined capital allocation will continue to serve amid the current challenging environment.
Zacks Rank
LyondellBasell currently has a Zacks Rank #3 (Hold), but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Market Reaction
LyondellBasell’s shares were down 3% 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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LyondellBasell Industries N.V. (LYB): Free Stock Analysis Report
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