LyondellBasell Industries (NYSE: LYB) reported Q3 EPS of $5.25, $0.44 worse than the analyst estimate of $5.69. Revenue for the quarter came in at $12.7 billion versus the consensus estimate of $11.12 billion.

GUIDANCE:

"We expect strong demand for LyondellBasell's products to continue as the roll out of vaccines drives further improvement in economic activity around the world. Over the next several quarters, we expect unmet consumer demand will extend strength in automotive, construction and other durable goods markets. While margins are likely to moderate due to increasing feedstock prices, energy costs and winter seasonality, we anticipate ongoing benefits from strong markets and tight industry supply."

"At LyondellBasell, our goal is to deliver results that meet both our financial and sustainability objectives. We have emerged stronger from last year's downturn by investing in growth and leveraging our culture of operational excellence and financial discipline over a larger asset base. LyondellBasell's step change in earnings power and cash generation is increasingly visible. With an additional $650 million of bonds redeemed during October, we continued to strengthen our investment grade balance sheet and remain on track to reduce debt by up to $4 billion in 2021. We expect cash generation will continue to provide flexibility for opportunistic share repurchases. At the same time, we are helping to address the global challenges of climate change by setting ambitious goals to reduce our CO2 emissions and achieve carbon neutrality for our company by the middle of the century. Altogether, LyondellBasell\'s growth strategy is creating momentum to deliver sustainable value over the coming years," Patel said.

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