LyondellBasell Industries N.V. reported a net income of $115 million for the second quarter of 2025, translating to $0.34 per diluted share. Excluding identified items, the net income was $202 million, or $0.62 per share. The company generated $606 million in EBITDA, with $715 million when excluding identified items. Cash from operating activities was reported at $351 million, while the company returned $536 million to shareholders through dividends and share repurchases. LyondellBasell is focusing on optimizing its portfolio and has announced the planned sale of select European assets to enhance its business strategy. Additionally, the construction of the Flex-2 project has been deferred to conserve capital during the current market downturn.
The company highlighted improvements in polyethylene and polypropylene demand, particularly in North America, supported by solid consumer packaging and construction sectors. In Europe, lower feedstock costs positively impacted margins. LyondellBasell is implementing a Cash Improvement Plan aimed at achieving $1.1 billion in cash improvements over 2025 and 2026. At the end of the second quarter, the company maintained $1.7 billion in cash and equivalents and $6.4 billion in available liquidity. The company expects North American integrated polyethylene margins to improve in the third quarter due to increased prices and robust domestic demand.
linkAug 01, 2025 06:33:01
LyondellBasell has announced an agreement to enter into exclusive negotiations with AEQUITA for the sale of four European olefins and polyolefins assets located in France, Germany, the UK, and Spain. This transaction is part of LyondellBasell's strategic assessment aimed at transforming its operations and focusing on value creation in the European market, particularly in circular and renewable solutions. The company emphasizes its commitment to safely operating its assets and supporting stakeholders throughout this process.
The agreement includes a put option deed, allowing AEQUITA to purchase the assets following certain consultation processes. The closing of the transaction is expected in the first half of 2026, pending necessary regulatory approvals and completion of employee consultations. LyondellBasell's financial advisors for this transaction include Citi and J.P. Morgan Securities LLC, with legal counsel provided by Linklaters LLP.
linkJun 05, 2025 06:08:12
The report has been signed in accordance with the Securities Exchange Act of 1934, indicating compliance with regulatory requirements. This formal acknowledgment by the registrant may be relevant for investors monitoring the company's adherence to legal obligations.
linkMay 15, 2025 16:07:15
LyondellBasell announced its financial results for the first quarter of 2025, reporting a net income of $177 million, or $0.54 per diluted share. The company generated an EBITDA of $655 million, with $576 million when excluding identified items. The company utilized $579 million in cash for operating activities and returned $543 million to shareholders through dividends and share repurchases. The results reflect challenges in North America due to lower volumes and margins, while European profitability improved with increased ethylene cracker utilization.
In alignment with its three-pillar strategy, LyondellBasell is focusing on strengthening its market position and financial results through a $500 million Cash Improvement Plan. The company has made strategic decisions, including the closure of a Dutch PO joint venture and the expansion of U.S. propylene production. At the end of the quarter, LyondellBasell maintained $1.9 billion in cash and equivalents, with a total liquidity of $6.5 billion, positioning itself to navigate ongoing market volatility.
linkApr 25, 2025 06:35:57
LyondellBasell generated $3.8 billion in cash from operating activities in 2024, reflecting a 90% cash conversion rate. The company invested $1.8 billion in capital expenditures and returned $1.9 billion to shareholders through dividends and share repurchases, marking the 14th consecutive year of annual dividend growth. Additionally, the Circular and Low Carbon Solutions business saw a notable 65% year-over-year volume growth, showcasing the company's commitment to sustainable practices and strategic initiatives.
However, LyondellBasell reported a net loss of $603 million for the fourth quarter of 2024, impacted by significant asset write-downs and costs related to exiting the refining business. The company's EBITDA for the quarter was negative at $(409) million, and margins declined across most segments due to rising raw material costs and weaker demand. The overall economic environment remained challenging, with headwinds from soft global demand and increased costs affecting profitability in various business units.
linkJan 31, 2025 06:31:43
LyondellBasell has announced the retirement of Michael McMurray as CFO, effective March 1, 2025, with Agustin Izquierdo set to succeed him. McMurray has been credited for his significant contributions over the past five years, particularly in transforming the finance function and enhancing shareholder returns during challenging market conditions. The company's CEO praised McMurray's strategic leadership and expressed gratitude for his role in the succession planning process. Izquierdo, who has been with LyondellBasell since 2022, is expected to leverage his extensive experience to continue driving the company's financial performance.
While the transition of leadership is positioned positively, it does raise concerns about continuity and the potential impact of leadership changes on the company’s strategic direction. McMurray's departure marks the end of a five-year tenure during which he played a crucial role in navigating complex challenges. Investors may be cautious about how the new CFO will build upon the existing financial foundation and manage future initiatives in a dynamic market environment.
linkNov 22, 2024 16:16:02
LyondellBasell announced a net income of $573 million for the third quarter of 2024, with diluted earnings per share at $1.75. The company generated $670 million in cash from operating activities and returned $479 million to shareholders through dividends and share repurchases. Additionally, LyondellBasell is making progress toward its sustainability goals, including the construction of a new recycling facility in Germany and exceeding its renewable electricity procurement target for 2030. The company reported increased polyethylene margins in North America and improved volumes from high cracker operating rates.
Conversely, LyondellBasell faced challenges with a decline in net income compared to the previous quarter, impacted by identified items related to refinery exit costs. The EBITDA for the quarter was $1.2 billion, down from $1.6 billion in the prior quarter. Oxyfuels and refining margins also decreased due to lower crude oil prices and gasoline crack spreads. The company anticipates softer demand in the fourth quarter, which may further affect its margins, particularly in the North American integrated polyolefins segment.
linkNov 01, 2024 06:31:55
LyondellBasell's Q2 2024 net income reached $924 million, with a 7% dividend increase to $1.34 per share. The company improved production and margins, completing a $700 million divestment and acquiring a 35% stake in a Saudi venture. Strong cash flow of $1.3 billion supports shareholder returns. However, refining margins decreased due to lower crack spreads. The company anticipates continued margin benefits from low natural gas costs and growing demand for its products.
linkAug 02, 2024 06:34:10
LyondellBasell reports $473 million net income in Q1 2024, with $1.44 diluted earnings per share. EBITDA stands at $1.0 billion. The company returned $408 million to shareholders and is focusing on Circular & Low Carbon Solutions business. Second-quarter outlook includes seasonal demand improvements and operational adjustments to market demand with a focus on growth in recycled and renewable-based polymers. CEO emphasizes value creation and strategic execution amidst challenging market conditions.
linkApr 26, 2024 06:34:56
The company entered an Underwriting Agreement for a public offering of Notes with underwriters. It also plans to redeem all outstanding 5.750% Senior Notes due 2024 at a redemption price of 100% of the principal amount plus interest. These actions are detailed in the Form 8-K filing.
linkFeb 28, 2024 16:09:16