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LyondellBasell Industries N.V. (LYB) reported a loss of $890 million or $2.77 per share for the most recent quarter, a significant decline from a profit of $573 million or $1.75 per share a year ago. The company’s net sales reached $7,727 million, surpassing the Zacks Consensus Estimate of $7,493.9 million, although it represented a 10% decrease from $8,604 million in the previous year.
Within its segments, the Olefins & Polyolefins — Americas posted revenues of $2,606 million, down 13% year-over-year but exceeding estimates. Conversely, the Advanced Polymer Solutions segment saw revenues decline by 3% to $870 million, missing consensus expectations. LyondellBasell generated $983 million in operating cash flows and has $1.8 billion in cash and cash equivalents at the end of the quarter.
Looking ahead, the company anticipates reduced operating rates and the impacts of increasing natural gas and feedstock costs, particularly affecting margins in North America. LyondellBasell aims to achieve $600 million in cost improvements by 2025, despite its stock suffering a 47.8% decline over the past year compared to a 27.4% drop in the Zacks Chemicals Diversified industry.
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