LyondellBasell Q4 Profit Declines - Quick Facts

(RTTNews) - Dutch chemicals and polymers maker LyondellBasell Industries (LYB) reported that fourth-quarter net income declined to $791 million or $1.54 per share from $1.18 billion or $2.11 per share in the prior-year quarter.

Income from continuing operations decreased to $796 million or $1.57 per share from $1.18 billion or $2.11 per share last year.

Excluding items, adjusted income from continuing operations was $1.25 billion or $2.48 per share, compared to $1.18 billion or $2.11 per share in the year-ago quarter.

On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $2.15 per share for the quarter. Analysts' estimates typically exclude special items.

Sales and other operating revenues for the quarter declined to $10.29 billion from $11.14 billion in the same quarter last year. Analysts expected revenue of $10.85 billion for the quarter.

Looking ahead, CEO Bob Patel said, "We remain confident in our favorable industry position and in the fundamentals supporting our business. While we anticipate that margins will ease from the records of 2014 as crude oil prices decline, our positions remain advantaged, our growth program is generating incremental earnings, and our share count is greatly reduced through our repurchase program."