LyondellBasell Posts Q2 Sales Miss, EPS Beat, Expects Weak Demand In Q3
Portfolio Pulse from Lekha Gupta
LyondellBasell Industries (NYSE:LYB) reported Q2 FY23 revenues of $10.31 billion, down from $14.84 billion a year ago, missing the consensus of $10.40 billion. However, the adjusted EPS of $2.44 beat the consensus of $2.29. The company returned $508 million to shareholders through dividends and share repurchases. It expects weak demand in Q3 due to economic uncertainty and volatile feedstock costs.
August 04, 2023 | 3:25 pm
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LyondellBasell's Q2 revenues missed expectations, but EPS beat consensus. The company expects weak demand in Q3, which may impact the stock negatively.
LyondellBasell's lower than expected Q2 revenues and the forecast of weak demand in Q3 due to economic uncertainty and volatile feedstock costs could negatively impact investor sentiment and put downward pressure on the stock in the short term.
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