LyondellBasell Industries N.V.

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  • Oct. 29, 2013, 9:15 AM
    • LyondellBasell (LYB) -2% premarket after reporting Q3 EPS from continuing operations of $1.51/share that was below analyst expectations.
    • Olefins and Refining results came in weaker than expected; olefins faced headwinds from higher feedstock costs, while the timing of crude purchases and pricing volatility impacted refining results.
    • Operating income in olefins and polyolefins in the Americas rose 2.8%, while the segment's operating income in Europe, Asia and International soared to $78M.
    • In the intermediates and derivatives segment, operating income fell 13% while the refining segment swung to a loss of $37M.
    | Oct. 29, 2013, 9:15 AM
  • Aug. 13, 2013, 12:50 PM
    • A fuel pipeline owned by Enterprise Products Partners (EPD -1.2%) exploded last night in rural Illinois, sending flames hundreds of feet into the sky and leaving a 15-foot-deep crater before crews were able to bring the fire under control.
    • The fire prompted the evacuation of 80 families, but most have returned home; no injuries were reported.
    • The 40K bbl/day pipeline was carrying a mixture of ethane and propane from Iowa City, Iowa, to a LyondellBasell (LYB +2.7%) petrochemical plant in Morris, Ill., southwest of Chicago.
    | Aug. 13, 2013, 12:50 PM | 4 Comments
  • May 22, 2013, 4:07 PM

    LyondellBasell (LYB) says that shareholders at its annual meeting have approved the repurchase of up to 10% of the company's outstanding stock over the next 12 months. The repurchases will be executed from time to time through open market or privately negotiated transactions. Shares +1.1% AH.

    | May 22, 2013, 4:07 PM
  • Apr. 26, 2013, 8:59 AM

    More on LyondellBasell's (LYBQ1 results: Operating income in olefins and polyolefins in the Americas rose 58%, while sales of those chemicals in the Europe, Asia and International segment surged to $93M from $3M a year ago. Although "results improved from recent quarters, underlying economic and industry conditions have not," CEO Jim Gallogly says. Shares +1.7% premarket.

    | Apr. 26, 2013, 8:59 AM
  • Mar. 14, 2013, 2:52 PM

    Deutsche Bank is out with some posititve comments on LyondellBasell Industries (LYB +2.7%) today, raising its price target to $75 from $70 and reiterating its Buy rating on the back of its investor meeting. Deutsche's David Begleiter noted that LYB's investor meeting exceeded expectations as management increased its EBITDA target in 2016 from new capacity/improvement projects to $1.6 - $2.0B from $1B previously, and he's confident the company can earn $10 a share.

    | Mar. 14, 2013, 2:52 PM
  • Feb. 1, 2013, 2:36 PM

    LyondellBasell (LYB -2.4%) slips today, despite swinging to a Q4 profit as the company benefited from an easy comparison against a year-earlier period that was weighed down by debt repayment charges. Net income was $623M, or $1.09 a share, a reversal from net losses of $218M, or $0.38 a share, in the prior year period. LYB emerged from Chapter 11 bankruptcy in 2010, and like others in the chemicals industry, has benefited from low U.S. natural gas prices, although its revenue and profits had fallen of late on market weakness in Europe.

    | Feb. 1, 2013, 2:36 PM
  • Dec. 4, 2012, 5:16 PM

    LyondellBasell (LYB) -2.7% AH after announcing a public offering of 21M common shares by certain selling shareholders that are affiliates of Apollo Management Holdings. LYB will receive no proceeds from the offering.

    | Dec. 4, 2012, 5:16 PM
  • Nov. 2, 2012, 9:29 AM

    LyondellBasell (LYB) -2.7% premarket on news that selling shareholders affiliated with Apollo Capital are offering 20M shares. The price was not disclosed. As of June 30, Apollo owned a 29.8% stake, with ~171M shares. LYB won't receive any proceeds from the sale, and the total number of ordinary shares won't change as a result of the offering.

    | Nov. 2, 2012, 9:29 AM
  • Oct. 16, 2012, 2:33 PM
    LyondellBasell (LYB +5.7%) extends yesterday's gains sparked by a Barron's report that the hedge fund favorite was named as one of the chemical companies with most upside potential. But chemical names are strong across the board today, perhaps from speculation that a regulatory ruling could open up a move to an MLP structure: WLK +7.7%, DOW +5.3%, HUN +3%.
    | Oct. 16, 2012, 2:33 PM | 2 Comments
  • Oct. 8, 2012, 2:14 PM

    Shares of chemical and fertilizer producers fall after Citi says the recent spike in natural gas prices could affect Q4 earnings. Natural gas is used as a feedstock for ammonia production and typically makes up 60%-80% of cash costs, which could affect North American producers such as CF Industries (CF -2%) and Agrium (AGU -1.2%). Also: DOW -0.7%, LYB -0.9%.

    | Oct. 8, 2012, 2:14 PM | 2 Comments
  • Sep. 19, 2012, 11:54 AM
    RBC Capital initiates coverage on the chemicals sector today: LyondellBasell (LYB +1%, Celanese (CE +3.8%) and Valspar (VAL +3.4%) are all initiated with an Outperform (I, II, III) and Dow Chemical (DOW +0.1%), DuPont (DD +1%), Eastman Chemical (EMN +0.5%) and PPG Industries (PPG) are started at Sector Perform (I, II, III, IV).
    | Sep. 19, 2012, 11:54 AM
  • Sep. 4, 2012, 9:08 AM

    LyondellBassell (LYB) -2.4% premarket as Apollo Management and Access Industries plan to sell 17.5M shares amid anticipated demand generated by the inclusion of LYB into the S&P 500 index. Apollo is LYB's largest shareholder with a 29.8% ownership stake, or 171M shares, while Access founder Len Blavatnik holds a ~14% stake and is the no. 2 holder.

    | Sep. 4, 2012, 9:08 AM
  • Aug. 29, 2012, 5:42 PM

    LyondellBasell (LYB) will replace Sears (SHLD) in the S&P 500 after the close of trading next Tuesday. Sears' public float has been well below the 50% threshold for inclusion for an extended period of time and is no longer considered representative of the index, S&P says. SHLD -3%, LYB +3% AH.

    | Aug. 29, 2012, 5:42 PM | 11 Comments
  • Aug. 27, 2012, 10:58 AM

    LyondellBasell (LYB -2.2%) is downgraded to Neutral from Buy with a price target lowered to $49 from $51 by UBS, which believes shares may weaken later this year due to increased feedstock costs. In Q2, LYB enjoyed outstanding margins due to a combination of factors that resulted in bargain ethane prices.

    | Aug. 27, 2012, 10:58 AM | 1 Comment
  • Jun. 26, 2012, 2:19 PM

    Dow Chemical (DOW -2.2%) is downgraded to Neutral from Overweight at J.P. Morgan, which sees the company as the most expensive of its peers and likely contains the highest earnings risk. The firm maintains its $36 price target on the shares; it believes LYB, WLK and EMN offer more attractive exposure to the sector.

    | Jun. 26, 2012, 2:19 PM
  • May 9, 2012, 12:38 PM

    LyondellBasell (LYB +4.2%) hikes its quarterly dividend 60% to $0.40/share, signaling its operational strength and progress in debt restructuring. CEO Jim Gallogly says the plastics and chemical company expects to steadily increase dividends over time. Morgan Stanley raises its price target on LYB to $53 from $48, citing the likelihood of higher ethane prices.

    | May 9, 2012, 12:38 PM
Company Description
LyondellBasell Industries NV is a plastics, chemical and refining company. The Company produces polypropylene and polypropylene compounds, propylene oxide, polyethylene, ethylene and propylene. It also provides technology licenses.