LyondellBasell Industries N.V. (LYB) released earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.
The company's earnings came in at $353 million, or $1.07 per share. This compares with $726 million, or $2.18 per share, in last year's fourth quarter.
Excluding items, LyondellBasell Industries N.V. reported adjusted earnings of $427 million or $1.29 per share for the period.
Analysts on average had expected the company to earn $1.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 20.5% to $10.206 billion from $12.830 billion last year.
LyondellBasell Industries N.V. earnings at a glance (GAAP) :
-Earnings (Q4): $353 Mln. vs. $726 Mln. last year.
-EPS (Q4): $1.07 vs. $2.18 last year.
-Analyst Estimates: $1.22
-Revenue (Q4): $10.206 Bln vs. $12.830 Bln last year.
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