Chemical maker LyondellBasell's Q2 profit beats estimates
LYB•Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Sales and other operating revenues | $9.18 bln | ||
| Q2 Adjusted EPS | Beat | $4.30 | $3.41 (17 Analysts) |
| Q2 EPS | $1.71 |
Outlook and operating rates
- Company expects Q3 operating rates of 85% for North American O&P assets, 70% for European O&P
- LyondellBasell says Middle East conditions remain fluid, likely to drive volatility in energy markets
- Company expects Bayport PO/TBA restart to boost I&D volumes, Clinton downtime to impact polyolefins
Quarterly results beat estimates
- US chemical and polymer producer's Q2 adjusted EPS beat analyst expectations
- Q2 revenue rose to $9.18 bln, driven by improved market conditions and higher operating rates
- Company completed divestiture of select European assets to improve cost structure
Company press release: ID:nGNX60FTKR
Result drivers and analyst coverage
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- O&P Americas segment results improved on expanding polymer margins and favorable co-product pricing due to tighter global market supply
