LyondellBasell Industries (NYSE: LYB) reported Q1 EPS of $3.11, $0.36 better than the analyst estimate of $2.75. Revenue for the quarter came in at $9.77 billion versus the consensus estimate of $9.36 billion.

OUTLOOK

"We are beginning to see the typical seasonal margin improvements in oxyfuels and refining, and we look forward to the benefits of continued high operating rates in the second quarter. Over the past two months, the U.S. market has experienced an imbalance between ethylene production and consumption, but this is expected to improve as the downstream derivative units attain full operating rates. Robust global demand and recent higher oil prices continue to support strong polyolefin pricing. LyondellBasell's organic growth program continues with our HyperzoneHDPE and PO/TBA projects on track," Patel said.

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