What to Expect From LyondellBasell's Next Quarterly Earnings Report

LyondellBasell Industries N.V. (LYB), headquartered in Houston, Texas, operates as a chemical company. Valued at $30.5 billion by market cap, the company manufactures plastic, chemical, and fuel products. It offers products for the manufacturing of personal care products, fresh food packaging, lightweight plastics, construction materials, automotive, and more. The global leader in developing and supplying materials is expected to announce its fiscal third-quarter earnings for 2024 before the market opens on Friday, Nov. 1. 

Ahead of the event, analysts expect LYB to report a profit of $2.13 per share on a diluted basis, down 13.4% from $2.46 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing the forecast on another occasion. 

For the full year, analysts expect LYB to report EPS of $7.80, down 9.8% from $8.65 in fiscal 2023. However, its EPS is expected to rise 18% year over year to $9.20 in fiscal 2025. 

LYB stock has underperformed the S&P 500’s ($SPX) 35.4% gains over the past 52 weeks, with shares up marginally during this period. Similarly, it underperformed the Materials Select Sector SPDR Fund’s (XLB) 24.2% gains over the same time frame.

On Aug. 2, LYB shares closed down more than 3% after reporting its Q2 results. Its sales and other operating revenues increased 2.4% year over year to $10.6 billion. The company’s adjusted EPS came in at $2.24, down 8.2% year over year. In Q3, the company expects margins to continue to benefit from low costs for natural gas and natural gas liquids utilized in LYB's North American and Middle East production relative to higher oil-based costs in most other regions.

Analysts’ consensus opinion on LYB stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 19 analysts covering the stock, five advise a “Strong Buy” rating, two suggest a “Moderate Buy” rating, 10 give a “Hold” rating, and two recommend a “Strong Sell.” LYB’s average analyst price target is $104.44, indicating a potential upside of 11.8% from the current levels.

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On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.