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LyondellBasell Q3 adjusted EPS misses estimates

By Reuters News


Overview

  • Global chemical producer's Q3 revenue rose yr/yr to $8.5 bln

  • Adjusted EPS for Q3 slightly missed analyst expectations

  • Company benefited from higher profitability in Intermediates and Derivatives, especially oxyfuels


Outlook

  • Company expects Middle East conditions to remain fluid, with recovery likely to be gradual

  • LyondellBasell expects normal seasonal demand and ongoing supply uncertainty in Q4

  • Company expects Q4 operating rates: 85% for North American O&P, 60% for European O&P, 75% for I&D


Result Drivers

  • PORTFOLIO FLEXIBILITY - Co said optimizing feedstocks, targeting attractive markets and adjusting operating rates supported results

  • OXYFUELS AND DERIVATIVES - Co cited strong oxyfuels margins and higher Intermediates and Derivatives profitability as key drivers

  • COST DISCIPLINE - Co said ongoing focus on cost discipline and operational reliability helped maintain margins


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales and other operating revenues

$8.50 bln

Q3 Adjusted EPS

Miss

$2.54

$2.57 (18 Analysts)

Q3 EPS

$2.32


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 8 "strong buy" or "buy", 10 "hold" and 4 "sell" or "strong sell"

  • The average consensus recommendation for the commodity chemicals peer group is "buy."

  • Wall Street's median 12-month price target for LyondellBasell Industries N.V. is $66.00, about 1% below its October 29 closing price of $65.37

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 7 three months ago


Reuters Recommended Reads

  • Oct 29 - Eastman Chemical Q3 revenue, profit miss analyst estimates on higher costs

  • Oct 29 - Olin Q3 revenue misses estimates; sees lower Q4 adjusted EBITDA

  • Oct 29 - Germany's Wacker Chemie Q3 EBITDA nearly doubles on cost savings


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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