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LyondellBasell Q1 profit climbs 21.3% YOY

LyondellBasell Industries NV said its normalized net income for the first quarter amounted to $2.09 per share, compared with the S&P Capital IQ consensus estimate of $2.00 per share.

EPS rose 38.2% year over year from $1.51.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.01 billion, a gain of 21.3% from $829.8 million in the year-earlier period.

The normalized profit margin increased to 12.3% from 7.5% in the year-earlier period.

Total revenue fell 26.5% year over year to $8.19 billion from $11.13 billion, and total operating expenses declined 32.5% on an annual basis to $6.61 billion from $9.79 billion.

Reported net income grew 23.5% year over year to $1.16 billion, or $2.42 per share, from $942.6 million, or $1.72 per share.