LyondellBasell Guides for Fall in Profit in 2Q
June 26 2019 - 7:43AM
Dow Jones News
By Allison Prang
LyondellBasell Industries NV (LYB) is expecting its
second-quarter earnings to decline from the comparable quarter a
year earlier, but to be within the range analysts are
expecting.
The company said it expects profit to be between almost $1.04
billion and $1.08 billion and for earnings to be between $2.79 a
share and $2.91 a share. For the comparable quarter a year earlier,
the company reported earnings of $1.65 billion, or $4.22 a share.
Analysts polled by Refinitiv are expecting earnings for the second
quarter of this year to be $2.80 a share.
LyondellBasell is guiding for earnings before interest, taxes,
depreciation and amortization, to be between almost $1.58 billion
and almost $1.68 billion. Compared with the first quarter, it
expects Ebitda to increase between about 10% to 20%.
The company said that lower feedstock costs have helped margins
for integrated ethylene in North America. The company added that
margins for refining are still "challenged" and that "oxyfuels are
experiencing typical seasonal improvements."
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
June 26, 2019 07:28 ET (11:28 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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