LyondellBasell Industries (LYB) Tops Q4 EPS by 8c, Revenues Miss

LyondellBasell Industries (NYSE: LYB) reported Q4 EPS of $1.29, $0.08 better than the analyst estimate of $1.21. Revenue for the quarter came in at $10.21 billion versus the consensus estimate of $10.74 billion.

GUIDANCE:

"In January, demand from consumer packaging, oxyfuels and refining markets remained stable. Moderating energy and feedstock costs are providing some offsets to tepid global demand. Nonetheless, challenging market conditions are expected to persist through the first half of 2023. LyondellBasell is aligning production with global demand trends and expects first quarter average utilization rates for the assets operated by the company to be 80% for each of the Olefins & Polyolefins and Intermediates & Derivatives segments. Start-up activities for the new PO/TBA capacity in Houston remain on track for the end of the first quarter 2023. The company expects typical spring and summer seasonal demand improvements and is prepared to leverage any increased economic activity in China as the year progresses.

"LyondellBasell continues on its journey to build a resilient strategy that provides sustainable growth and value for the company, its shareholders and our customers. At our Capital Markets Day on March 14th, we will share our strategy aimed at extending the company\'s track record of cash generation and strong returns for shareholders," said Vanacker.

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

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