LyondellBasell Industries Earnings: Everything You Must Know Now

LyondellBasell Industries NV (NYSE:LYB) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

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LyondellBasell Industries NV Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 45.79% to $1.56 in the quarter versus EPS of $1.07 in the year-earlier quarter.

Revenue: Decreased 10.19% to $10.67 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: LyondellBasell Industries NV reported adjusted EPS income of $1.56 per share. By that measure, the company beat the mean analyst estimate of $1.45. It missed the average revenue estimate of $11.14 billion.

Quoting Management: “In addition to our strong financial and operating results during the quarter, we passed several key milestones which we believe will help in securing our future performance. We received environmental permits and began construction on two key growth projects – the Channelview methanol plant restart and the La Porte olefins expansion. We are targeting to complete the methanol restart this year and the La Porte expansion during 2014. In addition, we completed a major turnaround at the Houston refinery, implementing modifications that position us to benefit from rapidly developing North American crude oil production. When completed, and assuming 2012 margins, these three projects would represent approximately $775 million of potential annual EBITDA,” said Jim Gallogly, LyondellBasell Chief Executive Officer.

Key Stats (on next page)…

EPS increased 35.65% from $1.15 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.59 to a profit $1.67. For the current year, the average estimate has moved up from a profit of $5.79 to a profit of $6.08 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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