LyondellBasell: 2Q Earnings Snapshot
HOUSTON (AP) _ LyondellBasell Industries (LYB) on Friday reported second-quarter earnings of $1.65 billion.
On a per-share basis, the Houston-based company said it had net income of $4.22. Earnings, adjusted for pretax gains, were $3.34 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.90 per share.
The oil refiner and chemical company posted revenue of $10.21 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $9.11 billion.
LyondellBasell shares have fallen roughly 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 6 percent. The stock has increased 23 percent in the last 12 months.