LyondellBasell reported second-quarter 2026 results with sales and other operating revenues of $9,177 million and net income of $559 million (diluted EPS $1.71). Excluding identified items, net income was $1,401 million and adjusted diluted EPS was $4.30; EBITDA was $1,252 million and $2,127 million excluding identified items. The company emphasized portfolio strengthening through the divestiture of select European assets and continued progress on its Cash Improvement Plan.

Financial Highlights

  • Sales and other operating revenues: $9,177 million for the three months ended June 30, 2026.
  • Net income: $559 million for the three months ended June 30, 2026; diluted earnings per share: $1.71.
  • Net income excluding identified items: $1,401 million for the three months ended June 30, 2026; diluted EPS excluding identified items: $4.30.
  • EBITDA: $1,252 million for the three months ended June 30, 2026; EBITDA excluding identified items: $2,127 million.
  • Cash and cash equivalents: $2,630 million; total liquidity: $7,090 million as of June 30, 2026.

Business Highlights

  • Completed divestiture of four European olefins & polyolefins assets during the quarter, aimed at structurally improving cost position and aligning European footprint to strategy.
  • Operational response to global supply disruptions included increased operating rates — North American O&P assets operated at approximately 90% utilization during the quarter.
  • Segment performance: O&P – Americas improved on expanding polymer margins and favorable co-product pricing; O&P – Europe, Asia and International benefited from tighter global supply and stronger joint venture contributions.
  • Intermediates & Derivatives saw higher earnings driven by improving oxyfuels, methanol and PO derivatives margins; Bayport PO/TBA unplanned outage was restarted in June, exiting the quarter at full operating rates.
  • Cash Improvement Plan execution continued, targeting $500 million incremental cash by end of 2026 through fixed-cost reductions and lower capital expenditures; capital expenditures were $270 million in the quarter.

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.