LyondellBasell Industries, a specialty chemicals company listed on the New York Stock Exchange, released its earnings results for the first quarter of the fiscal year 2023.
The firm reported an earnings per share (EPS) result of USD2.50 for Q1 2023, outpacing Wall Street’s consensus estimate of USD1.80 by USD0.70 per share, according to RTT News reports. Despite missing analysts’ expectations in revenue, with a recorded figure of USD10.25 billion during Q1 2023 compared to an expected USD10.80 billion, LyondellBasell Industries delivered a net margin of 7.71% and a return on equity of 32.96%.
The figures show improved performance from the same period last year when the company earned USD4 EPS, suggesting that LyondellBasell’s strategies are bearing fruit in line with market growth trends.
Following up on the company’s earnings report, it was recently announced that its shareholders received a dividend of USD1.19 per share for Q1 2023 payout ratio is reported as being 40.34%.The ex-dividend date set at March 13th and shareholders record were issued before that date became eligible for this spot dividend payout.
With an average volume of trading activity at over two million shares daily, LYB was traded up by almost four dollars during Friday’s trading session and hit an intraday high price point of %95.30 per share as at May 1st 2023 which is positive news from their activities.
LYB has been observed as having bearish momentum over recent weeks by some equities analysts; however three investment firms upgraded its rating structure based on recently strong fundamentals announced – this marks significant progress in gaining investor confidence and overseeing any long-term risks associated with volatile markets forecasts.
We remind, LyondellBasell announced it has made a decision to move forward with engineering to build an advanced recycling plant at its Wesseling, Germany. Using LyondellBasell's proprietary MoReTec technology, this commercial scale advanced recycling plant would convert pre-treated plastic waste into feedstock for new plastic production. The final investment decision is targeted for the end of 2023.
mrchub.com