LyondellBasell Guides for Fall in Profit in 2Q

Date : 06/26/2019 @ 12:43PM
Source : Dow Jones News
Stock : LyondellBasell Industries NV (LYB)
Quote : 86.41  0.0 (0.00%) @ 11:59AM

LyondellBasell Guides for Fall in Profit in 2Q

LyondellBasell Industrie... (NYSE:LYB)
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   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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