LyondellBasell Industries NV Class A (Netherlands) Up 2.34% To $98.62 After Earnings Beat

LyondellBasell Industries NV (LYB) reported better than expected earnings this morning for Q4 2022.

Analyst expectations for LyondellBasell Industries NV Class A (Netherlands) earnings per share (EPS) were at $1.22, with the company surpassing those estimates with a reported EPS of $1.29, leading to a positive surprise of $0.07 per share (6%). LyondellBasell Industries NV Class A (Netherlands)'s earnings were down 64% year-over-year as the firm reported an EPS of $3.63 in its year-ago quarter. The negative annual growth shows the Basic Materials company isn't performing well amid current economic conditions.

Revenues were downbeat at $10.2 billion. That represents a 20.45% decrease in revenues from the year-ago report and is 4.71% lower than consensus estimates set at $10.7 billion.

The stock is up 2.34% to $98.62 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 65. Meanwhile, the average Wall Street analyst rated the stock a Hold.

LyondellBasell is a petrochemical producer with operations in the United States, Europe, and Asia. The company is the world's largest producer of polypropylene and is also a major producer of polyethylene and propylene oxide. Its chemicals are used in various consumer and industrial end products. Over half of LyondellBasell's production come from its North American operations.