LyondellBasell Industries NV · Q2 2024 earnings

Briefing

LyondellBasell's financial performance improved due to increased production, integrated margins, and seasonal demand.

LyondellBasell reported a net income of $924 million, or $2.82 per diluted share, for the second quarter of 2024. EBITDA was $1.6 billion, or $1.4 billion excluding identified items. The company saw increased production and improving seasonal demand, particularly in North America and Europe. LyondellBasell returned $513 million to shareholders through dividends and share repurchases and completed the divestment of the Ethylene Oxide and Derivatives (EO&D) business and acquired a 35% share in NATPET.

• Net income was $924 million, or $2.82 per diluted share.
• EBITDA was $1.6 billion, or $1.4 billion excluding identified items.
• Cash from operating activities totaled $1.3 billion.
• The company returned $513 million to shareholders through dividends and share repurchases.

Headline financials

Revenue & EPS history

In the third quarter, the company expects margins to continue to benefit from low costs for natural gas and natural gas liquids utilized in LYB's North American and Middle East production relative to higher oil-based costs in most other regions. With the summer driving season underway, oxyfuels margins are expected to remain above historical levels with high octane premiums. During the third quarter, LYB expects to operate its assets in line with market demand with average operating rates of 85% for North American olefins and polyolefins (O&P) assets, 80% for European O&P assets and 75% for Intermediates & Derivatives assets.