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LyondellBasell (LYB) Announces the Launch of +LC Solutions

LyondellBasell Industries N.V. LYB has introduced +LC (Low Carbon) solutions, a new range of Intermediates and Derivatives (I&D) chemicals produced using an International Sustainability and Carbon Certification (ISCC) PLUS certified mass balance methodology. These +LC solutions, derived from recycled and renewable feedstocks, are intended to assist businesses in meeting their greenhouse gas (GHG) emissions reduction goals while maintaining high-quality applications required for modern, sustainable living by having a lower carbon footprint than fossil-based alternatives.

The +LC solutions are a key step forward for the company's customers as they strive for more ambitious GHG emission reduction targets and product circularity, LYB noted. These low-carbon solutions will rely on renewable, bio-based and recycled feedstocks to help customers cut Scope 3 GHG emissions. LyondellBasell has used its long history of innovation, customer-centric outlook and sustainability focus to create a product line that matches the company's and its customers' sustainability goals.

LyondellBasell adds the new +LC product line to its already robust portfolio. Styrene monomers, ethylene and propylene oxide are among the key I&D offerings, with applications ranging from insulation materials to automotive and consumer goods.

The +LC solutions are currently available in Europe and the Americas, with plans to expand into Asia in early 2024. Offering products made from renewable and recycled feedstocks as alternatives for fossil feedstocks help to preserve fossil resources while lowering GHG emissions from feedstock manufacturing.

Shares of LYB have gained 30% over the past year compared with a 10.1% rise of its industry.

Zacks Investment Research
Zacks Investment Research

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In the third quarter, LyondellBasell expects soft demand due to ongoing economic uncertainty to offset the usual benefits from summer seasonality. Challenging petrochemical margins are being influenced by stagnant demand, volatile feedstock costs and increased capacity in North America and China.

However, the company anticipates attractive oxyfuels and refining margins, supported by summer demand for transportation fuels. During this period, LyondellBasell plans to maintain average operating rates of 85% for North American olefins and polyolefins (O&P) assets and 75% for European O&P as well as Intermediates & Derivatives assets, in accordance with global market demand.

Despite the current challenging economic conditions and a slower recovery in China, the company remains committed to its long-term strategy. LyondellBasell is focused on advancing in Circular & Low Carbon Solutions. Its Value Enhancement Program is benefiting shareholders.

Zacks Rank & Key Picks

LyondellBasell currently carries a Zacks Rank #3 (Hold).

Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, The Andersons Inc. ANDE and Hawkins Inc. HWKN.

Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). The stock has rallied roughly 111.8% in the past year. CRS beat the Zacks Consensus Estimate in three of the last four quarters while meeting in one. It delivered a trailing four-quarter earnings surprise of 9.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.

Andersons currently carries a Zacks Rank #1. ANDE has gained roughly 68.8% in the past year. ANDE beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4%, on average.

Hawkins currently carries a Zacks Rank #1. The stock has rallied roughly 57.6% in the past year. HWKN beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 25.6%, on average.

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