LyondellBasell Industries N.V. Q2 Profit Decreases, but beats estimates

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

The company's earnings came in at $715 million, or $2.18 per share. This compares with $1.64 billion, or $4.98 per share, in last year's second quarter.

Excluding items, LyondellBasell Industries N.V. reported adjusted earnings of $801 million or $2.44 per share for the period.

Analysts on average had expected the company to earn $2.28 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 30.5% to $10.31 billion from $14.84 billion last year.

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

-Earnings (Q2): $715 Mln. vs. $1.64 Bln. last year. -EPS (Q2): $2.18 vs. $4.98 last year. -Analyst Estimates: $2.28 -Revenue (Q2): $10.31 Bln vs. $14.84 Bln last year.