LyondellBasell Reports Mixed Q4 Results, Warns On Headwinds From Slow Demand
Portfolio Pulse from Akanksha Bakshi
LyondellBasell Industries N.V. (NYSE:LYB) reported mixed Q4 fiscal 2023 results with revenues of $9.93 billion, slightly above consensus but down from the previous year. Adjusted EBITDA increased by 5.2% Y/Y, while adjusted EPS missed expectations. The company highlighted strong cash conversion and strategic moves including divestitures and a new joint venture. However, LYB warned of headwinds from slow demand and economic uncertainty, expecting continued challenges in Q1 2024. Shares fell by 2.65% to $92.11.
February 02, 2024 | 3:30 pm
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LyondellBasell reported mixed Q4 results with a slight revenue beat but an EPS miss. The company highlighted strategic moves and strong cash conversion but warned of future challenges.
The mixed Q4 results, coupled with the warning of continued challenges in Q1 2024 due to slow demand and economic uncertainty, are likely to negatively impact investor sentiment in the short term. The EPS miss and the company's cautious outlook, despite strategic moves and strong cash conversion, contribute to a negative short-term outlook for LYB's stock price.
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