LyondellBasell Q3 Earnings Report

HOUSTON – LyondellBasell Industries (NYSE:LYB) reported third-quarter earnings and revenue that fell short of expectations. The chemical company's stock edged 0.73% lower following the results.

LyondellBasell posted adjusted earnings per share of $1.88 for Q3, falling short of the analyst consensus of $1.98. Revenue came in at $10.32 billion, below estimates of $10.6 billion and down 2.9% year-over-year.

Net income for the quarter was $573 million, or $1.75 per share, compared to $747 million, or $2.29 per share, in the same period last year. Excluding identified items, net income was $617 million.

The company generated $670 million in cash from operating activities during Q3. It returned $479 million to shareholders through dividends and share repurchases.

"Despite challenging global macroeconomic conditions, our strong North American operations allowed us to capitalize on favorable ethylene margins in the region," said CEO Peter Vanacker.

For Q4, LyondellBasell expects softer demand across most businesses due to year-end seasonality. The company anticipates sequentially higher natural gas and ethane feedstock costs to moderate North American integrated polyolefins margins.

LyondellBasell aims to operate its North American olefins and polyolefins assets at 85% capacity in Q4, European assets at 60%, and Intermediates & Derivatives assets at 75%.

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