LYONDELLBASELL INDUS

LYB
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LyondellBasell: 3Q Earnings Snapshot

10/30/2020 | 05:57am

HOUSTON (AP) _ LyondellBasell Industries (LYB) on Friday reported third-quarter profit of $114 million.

The Houston-based company said it had net income of 33 cents per share. Earnings, adjusted for non-recurring costs, were $1.27 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.

The oil refiner and chemical company posted revenue of $6.78 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $6.91 billion.

LyondellBasell shares have dropped 24% since the beginning of the year, while the Standard & Poor's 500 index has increased 2.5%. The stock has dropped 21% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LYB at https://www.zacks.com/ap/LYB

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News

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