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LyondellBasell Q3 profit falls YOY

LyondellBasell Industries NV said its normalized net income for the third quarter was $2.26 per share, compared with the S&P Capital IQ consensus estimate of $2.58 per share.

EPS increased 9.2% year over year from $2.07.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.05 billion, a decrease from $1.06 billion in the prior-year period.

The normalized profit margin increased to 12.6% from 8.8% in the year-earlier period.

Total revenue fell 30.9% year over year to $8.33 billion from $12.07 billion, and total operating expenses declined 35.5% year over year to $6.68 billion from $10.36 billion.

Reported net income declined 6.3% on an annual basis to $1.18 billion, or $2.55 per share, from $1.26 billion, or $2.46 per share.