LyondellBasell (LYB) Surpasses Q2 Earnings Estimates

Group 1 - LyondellBasell reported quarterly earnings of $2.24 per share, exceeding the Zacks Consensus Estimate of $2.23 per share, but down from $2.44 per share a year ago, representing an earnings surprise of 0.45% [1] - The company posted revenues of $10.56 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 1.07%, compared to $10.31 billion in the same quarter last year [2] - LyondellBasell shares have increased approximately 3.2% since the beginning of the year, while the S&P 500 has gained 14.2% [3] Group 2 - The earnings outlook for LyondellBasell is uncertain, with current consensus EPS estimates at $2.53 for the coming quarter and $8.30 for the current fiscal year, with revenues expected to be $10.41 billion and $41.84 billion respectively [7] - The Zacks Industry Rank for Chemical - Diversified is currently in the bottom 6% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [8] - The estimate revisions trend for LyondellBasell is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, suggesting it may underperform the market in the near future [6]