On Friday, LyondellBasell Industries NV (NYSE:LYB)‘s shares declined -0.37% to $94.16.
LyondellBasell Industries ( LYB ) declared earnings from ongoing operations for the third quarter 2015 of $1.2 billion, or $2.55 diluted earnings per share. Third quarter 2015 EBITDA was about $2.0 billion.
The third quarter comprised of a $181 million non-cash, pre-tax lower of cost or market (LCM) inventory adjustment ($114 million after tax). Not Taking Into Account the LCM adjustment, earnings from ongoing operations during the third quarter totaled $1.3 billion, or $2.80 per share, and EBITDA was $2.2 billion.
Third Quarter 2015 Highlights
- Income from ongoing operations: $1.2 billion ($1.3 billion not taking into account LCM 1)
- Diluted earnings per share: $2.55 per share ($2.80 per share not taking into account LCM, a quarterly record)
- EBITDA: $2.0 billion ($2.2 billion not taking into account LCM, a quarterly record)
- Last twelve months not taking into account LCM impacts: EBITDA of $8.5 billion and diluted earnings per share of $10.60
- Not Taking Into Account the impacts of the LCM adjustments, third quarter EBITDA was the sixth successive quarter of about $2 billion, and the 12 thsuccessive quarter of year over year growth
- Repurchased 15.5 million shares during the quarter, or about 3.3 percent of the outstanding shares
LyondellBasell Industries N.V. operates as a manufacturer of chemicals and polymers, refiner of crude oil, producer of gasoline blending components, and developer and licensor of technologies for production of polymers.
Eli Lilly and Co (NYSE:LLY)’s shares gained 1.75% to $78.33.
Eli Lilly and Company (LLY) declared financial results for the third quarter of 2015.
Certain financial information for 2015 and 2014 is presented on both a stated and a non-GAAP basis. Some numbers in this press release may not add due to rounding. Stated results were prepared in accordance with generally accepted accounting principles (GAAP) and comprise all revenue and expenses recognized during the period. Non-GAAP measures exclude the items described in the reconciliation tables later in the release. Non-GAAP measures in 2014 comprise the results of Novartis Animal Health as if the acquisition and the financing for the acquisition had occurred as of January 1, 2014. Non-GAAP financial measures for all periods presented also exclude amortization of intangibles primarily associated with costs of marketed products attained or licensed from third parties. The company’s 2015 financial guidance is also being offered on both a stated and a non-GAAP basis. The non-GAAP measures are presented to provide additional insights into the underlying trends in the company’s business.
Key Events Over the Last Three Months
Commercial
- The company launched Basaglar®, a basal insulin product, in Japan, the UK, Germany and other European markets. Basaglar is part of the Boehringer Ingelheim and Eli Lilly and Company Diabetes Alliance.
- The company launched Trulicity®in Japan as a treatment for type 2 diabetes.
Regulatory
- The U.S. Food and Drug Administration (FDA) approved Synjardy®(empagliflozin and metformin hydrochloride) tablets and the product was launched in the U.S. for the treatment of adults with type 2 diabetes. Synjardy is part of the Boehringer Ingelheim and Eli Lilly and Company Diabetes Alliance.
- The FDA granted Breakthrough Therapy Designation to abemaciclib for patients with refractory hormone-receptor-positive advanced or metastatic breast cancer. Breakthrough Therapy Designation is designed to expedite the development and review of potential medicines that are intended to treat a serious condition, and preliminary clinical evidence indicates that the treatment may demonstrate substantial improvement over accessible therapy on a clinically noteworthy endpoint.
Eli Lilly and Company discovers, develops, manufactures, and sells pharmaceutical products worldwide. It operates through two segments, Human Pharmaceutical Products and Animal Health Products.
At the end of Friday’s trade, Suncor Energy Inc. (USA) (NYSE:SU)‘s shares dipped -2.15% to $28.45.
Suncor Energy will release its third quarter financial results on Wednesday, October 28, 2015 before 8:00 p.m. MT (10:00 p.m. ET).
A teleconference to review the third quarter will be held on Thursday, October 29 at 7:30 a.m. MT (9:30 a.m. ET). Representing administration will be Steve Williams, president and chief executive officer and Alister Cowan, executive vice president and chief financial officer. A question and answer period will follow brief remarks from administration. Steve Douglas, vice president, Investor Relations will host the call.
Suncor Energy Inc. operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada’s Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada; and markets third party petroleum products.