LyondellBasell Industries (LYB) Tops Q2 EPS by 9c

LyondellBasell Industries (NYSE: LYB) reported Q2 EPS of $2.79, $0.09 better than the analyst estimate of $2.70. Revenue for the quarter came in at $9.15 billion versus the consensus estimate of $9.12 billion.

"Continued high operating reliability allowed us to take advantage of a favorable second quarter environment. We again delivered strong results across all segments, achieving record quarterly diluted earnings per share and EBITDA. Earnings per share during the last 12 months exceeded $10 per share. Abundant natural gas and NGL supply coupled with strong pricing during the quarter continued to benefit our margins in the Olefins and Polyolefins and Intermediates and Derivatives segments. Planned and unplanned industry downtime created favorable global conditions, demonstrating that the industry is operating with a fundamentally tight supply and demand balance," said Bob Patel, LyondellBasell Chief Executive Officer.

OUTLOOK

"The outlook for the third quarter remains positive for our portfolio. Natural gas and NGL remain well supplied and favorably priced. Significant global olefin and polyolefin supply shortages are starting to rebalance as supply returns to the market, but balances have remained favorable through July. Late in the third quarter, we will begin planned outages at two of our Intermediate and Derivatives production sites and at one European olefins plant," Patel said.

For earnings history and earnings-related data on LyondellBasell Industries (LYB) click here.

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