LyondellBasell Industries N.V. Q1 Profit Decreases, but beats estimates

(RTTNews) - LyondellBasell Industries N.V. (LYB) revealed earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $474 million, or $1.44 per share. This compares with $1.32 billion, or $4.00 per share, in last year's first quarter.

Excluding items, LyondellBasell Industries N.V. reported adjusted earnings of $822 million or $2.50 per share for the period.

Analysts on average had expected the company to earn $1.74 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 22.1% to $10.25 billion from $13.16 billion last year.

LyondellBasell Industries N.V. earnings at a glance (GAAP) :

-Earnings (Q1): $474 Mln. vs. $1.32 Bln. last year. -EPS (Q1): $1.44 vs. $4.00 last year. -Analyst Estimates: $1.74 -Revenue (Q1): $10.25 Bln vs. $13.16 Bln last year.