LyondellBasell Posts Loss In Q3

(RTTNews) - LyondellBasell (LYB) reported a third quarter net loss of $890 million compared to net income of $573 million, prior year. Loss per share was $2.77 compared to profit of $1.75. During the quarter, the company recognized $1.2 billion of identified items, net of tax. These items impacted third-quarter earnings by $3.78 per share. Net income excluding identified items declined to $330 million from $626 million. Earnings per share excluding identified items was $1.01 compared to $1.91. Analysts on average expected the company to report profit per share of $0.80, for the quarter. Analysts' estimates typically exclude special items.

Third quarter sales and other operating revenues declined to $7.73 billion from $8.60 billion, last year.

Shares of LyondellBasell are up 6% in pre-market trade on Friday.

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