Yahoo Finance LyondellBasell (LYB) Unveils Range of Circulen Products
LyondellBasell Industries N.V. LYB recently announced the launch of a family of products under the name-Circulen. These products will facilitate brand owners to improve the sustainability of consumer products.
This launch is a step forward in LyondellBasell’s sustainability goal of manufacturing and marketing two million metric tons of recycled and renewable-based polymers annually by 2030, which is one of the most ambitious goals in the industry.
The LyondellBasell Circulen product family supports the cutback of plastic waste through the use of recycled content. Moreover, it supports reduced carbon footprint through the use of renewable-based content against feedstock from fossil-based sources.
The Circulen product portfolio includes Circulen Recover, Circulen Revive and Circulen Renew polymers. To achieve its goals, LyondellBasell is implementing a multi-pronged approach to boost the circular economy by bringing sustainable solutions to life.
Shares of LyondellBasell have surged 98.4% in the past year compared with 78.5% rise of the industry.
The company, in its last earnings call, noted that it expects improving trends to continue in the first quarter of 2021. The Olefins and Polyolefins businesses are witnessing strong margins due to increased export demand to China and Latin America. The company also formed a new joint venture to build its second world-scale propylene oxide and styrene monomer unit in China.
The company plans to lower debt and believes that it is well placed to drive profitability through its growth initiatives, which will increase free cash flow and strengthen its investment grade balance sheet.
LyondellBasell Industries N.V. Price and Consensus
LyondellBasell Industries N.V. price-consensus-chart | LyondellBasell Industries N.V. Quote
Zacks Rank & Key Picks
LyondellBasell currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Fortescue Metals Group Limited FSUGY, Nucor Corporation NUE and Impala Platinum Holdings Limited IMPUY.
Fortescue has a projected earnings growth rate of 106.5% for the current fiscal. The company’s shares have surged 124.5% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Nucor has an expected earnings growth rate of 135.3% for the current fiscal. The company’s shares have gained 120.3% in the past year. It currently sports a Zacks Rank #1.
Impala has an expected earnings growth rate of 197.6% for the current fiscal. The company’s shares have skyrocketed 203.4% in the past year. It currently flaunts a Zacks Rank #1.
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