LyondellBasell Industries N.V. LYB, which emerged from Chapter 11 bankruptcy in 2010, is among the leading plastics, chemical and refining companies globally. The company’s products are used across a bevy of industries including electronics, automotive parts, packaging, construction materials and biofuels. LyondellBasell is a leading producer of olefins and polyolefins globally.LyondellBasell is executing its expansion projects to leverage the U.S. natural gas liquids (NGLs) advantage. It remains on track with its ethylene expansion projects across its Channelview, La Porte and Corpus Christi facilities in Texas which benefit from shale gas production.Let’s have a quick look at this Netherlands-based chemical giant’s first-quarter 2016 release.Estimate Trend & Surprise HistoryInvestors should note that the earnings estimate for LyondellBasell for the first quarter has seen a downtrend over the past week. LyondellBasell has beaten the Zacks Consensus Estimate in the trailing 4 quarters with an average beat of 13.29%. Investors have been eagerly awaiting LyondellBasell’s latest earnings report to see whether it continues the winning streak.EarningsLyondellBasell logged adjusted earnings of $2.48 per share for the first quarter that topped the Zacks Consensus Estimate of $2.28.RevenuesLyondellBasell recorded revenues of $6,743 million, down roughly 17.6% year over year. That missed the Zacks Consensus Estimate of $6,925 million.Key Stats/Developments to NoteLyondellBasell said that a significant amount of industry capacity will be offline across the U.S. and Asia for scheduled maintenance in the balance of the second quarter, which will tighten global olefin and polyolefin markets. The company has started maintenance turnaround and its 800-million pound ethylene expansion at Corpus Christi with an expected ramp up to full utilization of the expanded capacity during the third quarter.LyondellBasell also noted that its refinery will operate at reduced rates during the second quarter as it repairs damages from a fire in April. Its refining and oxyfuels businesses are benefiting from seasonal margin improvements.Zacks RankLyondellBasell currently has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released.Market ReactionLyondellBasell’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.Check back later for our full write up on LyondellBasell’s earnings report!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report LYONDELLBASEL-A (LYB): Free Stock Analysis Report To read this article on Zacks.com click here.