LyondellBasell beats by $0.34, beats on revs
- Reports Q1 (Mar) earnings of $3.11 per share, $0.34 better than the Capital IQ Consensus of $2.77; revenues rose 15.9% year/year to $9.77 bln vs the $9.43 bln Capital IQ Consensus.
- Outlook: "We are beginning to see the typical seasonal margin improvements in oxyfuels and refining, and we look forward to the benefits of continued high operating rates in the second quarter. Over the past two months, the U.S. market has experienced an imbalance between ethylene production and consumption, but this is expected to improve as the downstream derivative units attain full operating rates. Robust global demand and recent higher oil prices continue to support strong polyolefin pricing. LyondellBasell's organic growth program continues with our Hyperzone HDPE and PO/TBA projects on track"
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