LyondellBasell Beats On Q2, Provides Optimistic Margin Guidance For Q3 Amid Favorable Cost Conditions
Portfolio Pulse from Akanksha Bakshi
LyondellBasell Industries (NYSE: LYB) reported strong Q2 fiscal 2024 results, with revenues of $10.55 billion and adjusted EPS of $2.24, both beating consensus estimates. Despite a slight contraction in margins, the company saw increased production and favorable cost conditions. LYB provided optimistic margin guidance for Q3, expecting continued benefits from low natural gas costs. The company also reported strong cash flow and significant investments, including a stake in the NATPET joint venture.
August 02, 2024 | 2:03 pm
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LyondellBasell Industries (NYSE: LYB) reported strong Q2 results, beating revenue and EPS estimates. The company provided optimistic margin guidance for Q3, expecting benefits from low natural gas costs. LYB also reported strong cash flow and significant investments.
LYB's strong Q2 performance, beating both revenue and EPS estimates, along with optimistic margin guidance for Q3, is likely to positively impact the stock price in the short term. The company's strong cash flow and strategic investments further support this positive outlook.
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