Steel Dynamics (STLD) Third Quarter Earnings and Sales Estimates - October 21, 2022

LyondellBasell (LYB) Earnings and Delayed Sales Estimated in the Third Quarter – Oct 28, 2022

LyondellBasell Industries NV (LYB Free Report reported earnings of $572 million, or $1.75 per share, within the third quarter of 2022, down from $1.762 million, or $5.25, within the earlier yr’s quarter.

Adjusted earnings got here in at $1.96 per share for the quarter, lacking Zacks’ consensus estimate of $2.96.

Income decreased roughly 3.5% yr over yr to $12,250 million within the cited quarter. The quantity missed the consensus mark of $13279.1 million.

Consolidated EBITDA for the quarter decreased practically 59% yr over yr to $1,108 million.

The corporate confronted headwinds from rising vitality prices, new provides and softer markets within the quarter. The demand for its merchandise utilized in shopper packaging has remained secure.

Nevertheless, it noticed weaker demand from the sturdy items markets. The olefins, polyolefins and intermediate chemical substances markets noticed a big rise in vitality prices and weak demand in Europe within the cited quarter.

Revision half

Within the Olefins & Polyolefins – Americas division, EBITDA decreased roughly 64% year-over-year to $559 million within the cited quarter. Olefins’ outcomes fell as a result of decrease revenue margins.

Olefins and Polyolefins – Europe, Asia and Worldwide phase noticed an EBITDA lower of $557 million from the prior-year quarter to a lack of $83 million. Olefins’ outcomes fell as a result of decrease margins and volumes. Ethylene margins declined as a result of larger feedstock and vitality prices, which have been partially offset by larger ethylene and co-product costs.

The Superior Polymer Options phase reported EBITDA of $66 million, down roughly 45% from the earlier yr’s quarter. Fixtures and options outcomes declined as a result of decrease product costs and better uncooked materials prices.

EBITDA within the brokerage and derivatives phase elevated practically 3% year-over-year to $360 million. Outcomes of propylene oxide and its derivatives declined as a result of rising vitality prices in Europe.

The refining phase reported earnings earlier than curiosity, tax, depreciation and amortization (EBITDA) of $106 million within the cited quarter, a rise of roughly 159% over the prior yr quarter.

EBITDA for the expertise phase was $92 million within the cited quarter, down roughly 41% yr over yr. The draw back was as a result of decrease licensing revenues.

Finance

LyondellBasell generated $1.4 billion in money from working actions in the course of the quarter. The corporate returned greater than $550 million to shareholders by dividends and inventory buybacks within the mentioned quarter.

prospects

The corporate said that its diversified portfolio, robust steadiness sheet and powerful liquidity allow it to navigate difficult markets.

The corporate famous that demand from shopper packaging, gas oxygen and refining markets remained robust in October. Nevertheless, inflation and better vitality prices coupled with decrease seasonal demand are anticipated to additional margin stress on most of LyondellBasell’s enterprise within the fourth quarter. The corporate additionally anticipates continued difficult circumstances within the European and Asian markets.

value efficiency

LyondellBasell shares are down 11.1% prior to now yr in comparison with a ten.8% drop in industry.


Picture supply: Zacks Funding Analysis

Zacks order and key choice

LyondellBasell at present has a Zacks ranking of 5 (robust promote).

Embody top-rated shares price finding out within the core topic space Albemarle Firm (ALB free report), Sociedad Quimica y Minera de Chile SA (Sq. meters free report) and Ryerson Holding Firm (RYI free report).

Albemarle, which is at present rated by Zacks #1 (robust purchase), has an anticipated earnings development price of 430.7% for the present yr. Zacks’ consensus estimate of ALB earnings for the present yr was revised up 5.8% prior to now 60 days. you’ll be able to see The full list of Zacks #1 stocks today is here.

Albemarle’s earnings beat Zacks’ consensus estimate in every of the final 4 quarters. It has a delayed quarterly earnings shock of about 24.2% on common. ALB gained about 13% in a yr.

Sociedad has an anticipated earnings development price of 530.7% for the present yr. Zacks’ consensus estimate of SQM earnings for the present yr has been revised up 2.1% prior to now 60 days.

Sociedad posted a shock fourth-quarter revenue of about 27.2%. SQM is up practically 76% in a yr. The corporate at present holds a Zacks #1 ranking.

Ryerson Holding, which at present holds Zacks #1, has an anticipated earnings development price of 74.2% for the present yr. The consensus estimate for RYI’s earnings for the present yr has been revised up 3.2% prior to now 60 days.

Ryerson Holding’s earnings beat Zacks Consensus’s estimate in every of the next 4 quarters, averaging 28.9%. RYI gained about 29% over the course of a yr.


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