{"success":true,"data":{"pressRelease":{"id":"104826","rtpr_id":"nGNX60FTKR","ticker":"LYB","exchange":"NYSE","all_tickers":["LYB"],"title":"LyondellBasell reports second quarter 2026 earnings","author":"Globe Newswire","published_at":"2026-07-31T10:30:00.397Z","article_body":"* Net income: $0.6 billion, $1.4 billion excluding identified items(1)\n* Diluted earnings per share: $1.71 per share; $4.30 per share excluding\nidentified items\n* EBITDA: $1.3 billion, $2.1 billion excluding identified items\n* Strengthened the portfolio through the divestiture of select European\nassets, structurally improving the cost position and aligning the company's\nEuropean footprint to its strategy\n* Continued to deliver meaningful fixed-cost reductions and lower capital\nexpenditures through the Cash Improvement Plan\n* Capitalized on improved market conditions through disciplined commercial\nexecution\nHOUSTON and LONDON, July 31, 2026 (GLOBE NEWSWIRE) -- LyondellBasell\nIndustries (NYSE: LYB) (the \"company\") today announced results for the second\nquarter 2026. Comparisons with the prior quarter and second quarter 2025 are\navailable in the following table:\n\nTable 1 - Earnings Summary\n\n Millions of U.S. dollars (except share data) Three Months Ended Six Months Ended \n June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 \n Sales and other operating revenues $ 9,177 $ 7,197 $ 7,658 $ 16,374 $ 15,335 \n Net income 559 125 115 684 292 \n Diluted earnings per share 1.71 0.38 0.34 2.10 0.88 \n Weighted average diluted share count 323 323 322 323 323 \n EBITDA (1) 1,252 568 606 1,820 1,261 \n\nExcluding Identified Items(1)\n\n Net income excluding identified items $ 1,401 $ 163 $ 202 $ 1,564 $ 312 \n Diluted earnings per share excluding identified items 4.30 0.49 0.62 4.80 0.95 \n Loss on sale of business, pre-tax 734 — — 734 — \n Asset write-downs, pre-tax 74 15 32 89 32 \n Cash Improvement Plan costs, pre-tax 31 — 20 31 20 \n Site closure costs, pre-tax 30 4 — 34 117 \n European transaction costs, net of transition service agreement income, pre-tax (11 ) 10 10 (1 ) 10 \n (Income) loss from discontinued operations, pre-tax 17 18 47 35 (149 ) \n EBITDA excluding identified items 2,127 615 715 2,742 1,291 \n\n((1) See “Information Related to Financial Measures” for a discussion of\nthe company’s use of non-GAAP financial measures and Tables 2-4 for\nreconciliations or calculations of these financial measures. “Identified\nitems” include adjustments for lower of cost or market (\"LCM\"), gain or loss\non sale of business, asset write-downs in excess of $10 million in aggregate\nfor the period, Cash Improvement Plan costs, site closure costs, European\ntransaction costs, net of transition service agreement income, and\ndiscontinued operations.)\n\n“In a dynamic macroeconomic environment, we delivered exceptional results\nthrough deliberate commercial actions, the strength of our advantaged\nportfolio and improved market conditions supporting margin expansion,” said\nPeter Vanacker, LYB chief executive officer. “We responded quickly to the\nglobal supply disruption by increasing operating rates to serve our customers,\ndemonstrating the flexibility and resilience of our global asset base and\nsupply chain. We also took decisive actions with the divestment of select\nEuropean assets and continued progress on our Cash Improvement Plan. These\nactions are repositioning LYB with a structurally lower cost base providing\nimproved margins and enhanced cash generation. We continue to prioritize\nsafety, reliability, cost discipline and capital allocation to deliver\nsustainable value for our shareholders.”\n\nSECOND QUARTER 2026 RESULTS\nThe company reported net income for the second quarter 2026 of $559 million,\nor $1.71 per diluted share. During the quarter, the company recognized\n$842 million of identified items, net of tax. These items, which impacted\nsecond quarter earnings by $2.59 per diluted share, included the loss on sale\nfrom the divestiture of select European assets and a write down related to an\nOlefins & Polyolefins (O&P) – Americas joint venture. Second quarter 2026\nEBITDA was $1.3 billion, or $2.1 billion excluding identified items.\n\nIn the second quarter, geopolitical instability resulted in dynamic and\nsupply-constrained market conditions across all business segments. In the O&P\n– Americas segment, results substantially improved relative to the prior\nquarter on expanding polymer margins and favorable co-product pricing due to\ntighter global market supply. The company operated its advantaged North\nAmerican assets at approximately 90% utilization capitalizing on favorable\nmarket conditions. O&P – Europe, Asia and International also benefited from\nimproved polymer spreads driven by supply chain disruptions and stronger joint\nventure contributions.\n\nIntermediates and Derivatives (I&D) delivered higher earnings driven by\nimproving oxyfuels, methanol and PO derivatives margins partially offset by\nthe Bayport PO/TBA unplanned outage during the quarter. Bayport was\nsuccessfully restarted in June, exiting the quarter at full operating rates\nand positioning the business for improved volume performance in the second\nhalf of the year.\n\nLYB generated $752 million in cash from operating activities during the second\nquarter. Working capital was a use of cash during the quarter given higher\nprices and increased operating rates to capture favorable market opportunities\ncaused by global supply disruptions. The second quarter included a $310\nmillion cash contribution in connection with the completion of the European\nasset divestiture, as expected. Capital allocation was balanced between\ncapital expenditures of $270 million and $224 million of shareholder returns\nthrough dividends. At the end of the quarter, LYB held $2.6 billion in cash\nand cash equivalents and $7.1 billion in available liquidity.\n\nSTRATEGY HIGHLIGHTS\nLYB reached an important milestone in its portfolio transformation with the\ncompletion of the divestiture of four European assets during the second\nquarter. This demonstrates the company's continued progress to Grow and\nUpgrade the Core as part of its three-pillar strategy. The company is now\nbetter positioned with increased resilience and greater flexibility to\nnavigate the cycle and capture market upside by increasing the proportion of\nits assets connected to advantaged feedstocks.\n\nLYB remains focused on strengthening its balance sheet through disciplined and\nbalanced capital allocation and strong cash generation. The company is on\ntarget to deliver $500 million incremental cash through its Cash Improvement\nPlan by the end of 2026, driven primarily by fixed-cost reductions and lower\ncapital expenditures.\n\nOUTLOOK\nAs shown in recent weeks, conditions in the Middle East remain fluid, and we\nexpect this to continue to be a source of volatility for energy and\npetrochemical value chains. The pace, timing and magnitude at which\nconflict-impacted supply will return to the market remains uncertain with the\nrecovery period likely extending into 2027. While we do not anticipate\nmaterial demand deterioration in our key end markets, uncertainty on the\nnear-term price outlook could temporarily impact normal buying patterns.\n\nThe restart of Bayport PO/TBA should provide volume uplift in the I&D segment,\nwhile planned downtime at the Clinton facility will impact polyolefins volumes\nin the second half of the year. To align with global demand and the company's\nplanned maintenance, LYB expects third quarter operating rates of 85% for\nNorth American O&P assets, 70% for European O&P assets and 85% for I&D assets.\n\nLYB remains focused on commercial and operational agility in this dynamic\nmarket while continuing to execute the Cash Improvement Plan. The company's\ncapital allocation priorities remain unchanged: safely operate and maintain\nassets, strengthen the balance sheet though disciplined deleveraging including\nthe scheduled note maturity repayment in September, maintain an attractive\ndividend and invest selectively in opportunities that enhance long-term\nshareholder value.\n\nCONFERENCE CALL\nLYB will host a conference call July 31 at 11 a.m. ET. Participants on the\ncall will include Chief Executive Officer Peter Vanacker, Executive Vice\nPresident and Chief Financial Officer Agustin Izquierdo, Executive Vice\nPresident of Global Olefins and Polyolefins Kim Foley, Executive Vice\nPresident of Intermediates and Derivatives Aaron Ledet, Executive Vice\nPresident of Advanced Polymer Solutions Torkel Rhenman and Head of Investor\nRelations David Dennison. For event access, the toll-free dial-in number is\n1-877-407-8029, international dial-in number is 201-689-8029 or click the\nCallMe link\n(https://www.globenewswire.com/Tracker?data=3hZOUN2ivSpwGwHyS82rxK12OaD5bwU95FOmwyVuXucHNYDxukRs3NLFpmJCkQYVL4SMDYO8gKdC0CpUQz6YSDi_icCC6zBuSElwd3MTpA3MTFpfWBv8DW9X-ODuVjNJpLoaMXYfey7mE9M7W25LW-DFzLPhfvY_t6VwBg7OOyL5Zlrg-cbwfrvWRUpfxRakB3iHJVNw5IiteC6v9WcPPlnoldW61r5DDV04Q-PAGic=).\nThe slides and webcast that accompany the call will be available at\ninvestors.lyondellbasell.com/earnings\n(https://www.globenewswire.com/Tracker?data=Za8pqVAilsvwVNiliynvAVoRABMxZ0258ho6o9MxPigYR87BYngpfW3VUIOVfDOqnZ26mvfpMVh3BB0ooZYTZuMwp5q1nRlP8wtb9xKMfAnDVoJ9JJ96TI8sQ-3ISgZSGe7w6jQKeW0_tjULKa-sjA==).\nA replay of the call will be available from 1:00 p.m. ET July 31 until August\n31, 2026. The replay toll-free dial-in numbers are 1-877-407-8029 and\n201-689-8029. The access ID for each is 13746218.\n\nABOUT LYONDELLBASELL\nWe are LyondellBasell (NYSE: LYB) – a leader in the global chemical industry\ncreating solutions for everyday sustainable living. Through advanced\ntechnology and focused investments, we are enabling a circular and low carbon\neconomy. Across all we do, we aim to unlock value for our customers, investors\nand society. As one of the world's largest producers of polymers and a leader\nin polyolefin technologies, we develop, manufacture and market high-quality\nand innovative products for applications ranging from sustainable\ntransportation and food safety to clean water and quality healthcare. For more\ninformation, please visit www.LyondellBasell.com or follow @LyondellBasell on\nLinkedIn.\n\nFORWARD-LOOKING STATEMENTS\nThe statements in this release relating to matters that are not historical\nfacts are forward-looking statements. These forward-looking statements are\nbased upon assumptions of management of LyondellBasell which are believed to\nbe reasonable at the time made and are subject to significant risks and\nuncertainties. When used in this release, the words “estimate,”\n“believe,” “continue,” “could,” “intend,” “may,”\n“plan,” “potential,” “predict,” “should,” “will,”\n“expect,” and similar expressions are intended to identify forward-looking\nstatements, although not all forward-looking statements contain such\nidentifying words. Actual results could differ materially based on factors\nincluding, but not limited to, market conditions, including the prolonged\nindustry downturn, the business cyclicality of the chemical and polymers\nindustries; the availability, cost and price volatility of raw materials and\nutilities, particularly the cost of oil, natural gas, and associated natural\ngas liquids; our ability to successfully implement initiatives identified\npursuant to our Value Enhancement Program and generate anticipated earnings;\ncompetitive product and pricing pressures; labor conditions; our ability to\nattract and retain key personnel; operating interruptions (including leaks,\nexplosions, fires, weather-related incidents, mechanical failure, unscheduled\ndowntime, supplier disruptions, labor shortages, strikes, work stoppages or\nother labor difficulties, transportation interruptions, spills and releases\nand other environmental risks); the supply/demand balances for our and our\njoint ventures’ products; industry production capacities, operating rates,\nand the pace of global capacity rationalizations; the impacts and scope of the\nglobal supply disruption resulting from the conflict in Ukraine and the Middle\nEast; our ability to manage costs; future financial and operating results; our\nability to complete capital projects on time and on budget and successfully\noperate the asset; our ability to align our assets and grow and upgrade our\ncore; our ability to reduce our fixed costs and increase cash flow; legal and\nenvironmental proceedings; tax rulings and related consequences or\nproceedings; the impacts of tariffs and trade disruptions; technological\ndevelopments, and our ability to develop new products and process\ntechnologies; our ability to meet our sustainability goals, including the\nability to operate safely, increase production of recycled and renewable-based\npolymers to meet our targets and forecasts, and reduce our emissions and\nachieve net zero emissions by the time set in our goals; our ability to\nprocure energy from renewable sources; our ability to build a profitable\nCircular & Low Carbon Solutions business; our ability to improve the business\nperformance of our Advanced Polymers Solutions segment and its ability to\nsecure new customers; potential governmental regulatory actions; political\nunrest and terrorist acts; risks and uncertainties posed by international\noperations, including foreign currency fluctuations; our ability to maintain\nour investment-grade credit rating and execute our capital allocation\nstrategy, including our ability to pay dividends; and our ability to comply\nwith debt covenants and to repay our debt. Additional factors that could cause\nresults to differ materially from those described in the forward-looking\nstatements can be found in the “Risk Factors” section of our Form 10-K for\nthe year ended December 31, 2025, which can be found at\nwww.LyondellBasell.com on the Investors page and on the Securities and\nExchange Commission’s website at www.sec.gov. There is no assurance that any\nof the actions, events or results of the forward-looking statements will\noccur, or if any of them do, what impact they will have on our results of\noperations or financial condition. Forward-looking statements speak only as of\nthe date they were made and are based on the estimates and opinions of\nmanagement of LyondellBasell at the time the statements are made.\nLyondellBasell does not assume any obligation to update forward-looking\nstatements should circumstances or management’s estimates or opinions\nchange, except as required by law.\n\nINFORMATION RELATED TO FINANCIAL MEASURES\nThis release makes reference to certain non-GAAP financial measures as defined\nin Regulation G of the U.S. Securities Exchange Act of 1934, as amended.\n\nWe report our financial results in accordance with U.S. generally accepted\naccounting principles (\"GAAP\"), but believe that certain non-GAAP financial\nmeasures, such as EBITDA, and EBITDA, net income and diluted EPS exclusive of\nidentified items provide useful supplemental information to investors\nregarding the underlying business trends and performance of the company's\nongoing operations and are useful for period-over-period comparisons of such\noperations. Non-GAAP financial measures should be considered as a supplement\nto, and not as a substitute for, or superior to, the financial measures\nprepared in accordance with GAAP.\n\nWe calculate EBITDA as net income (loss) plus interest expense, net, provision\nfor (benefit from) income taxes, and depreciation and amortization. EBITDA\nshould not be considered an alternative to profit or operating profit for any\nperiod as an indicator of our performance, or as an alternative to operating\ncash flows as a measure of our liquidity. We also present EBITDA, net income\nand diluted EPS exclusive of identified items. Identified items include\nadjustments for lower of cost or market (“LCM”), gain or loss on sale of\nbusiness, asset write-downs in excess of $10 million in aggregate for the\nperiod, Cash Improvement Plan costs, site closure costs, European transaction\ncosts, net of transition service agreement income, and discontinued\noperations. Asset write-downs include impairments of goodwill and impairments\nof long-lived assets. Our inventories are stated at the lower of cost or\nmarket. Cost is determined using the last-in, first-out (“LIFO”) inventory\nvaluation methodology, which means that the most recently incurred costs are\ncharged to cost of sales and inventories are valued at the earliest\nacquisition costs. Fluctuation in the prices of crude oil, natural gas and\ncorrelated products from period to period may result in the recognition of\ncharges to adjust the value of inventory to the lower of cost or market in\nperiods of falling prices and the reversal of those charges in subsequent\ninterim periods, within the same fiscal year as the charge, as market prices\nrecover. A gain or loss on sale of a business is calculated as the\nconsideration received from the sale less its carrying value. We evaluate\nproperty, plant and equipment and definite-lived intangible assets whenever\nimpairment indicators are present. If it is determined that an asset or asset\ngroup’s undiscounted future cash flows will not be sufficient to recover the\ncarrying amount, an impairment charge is recognized to write the asset down to\nits estimated fair value. Goodwill is tested for impairment annually in the\nfourth quarter or whenever events or changes in circumstances indicate that\nthe fair value of a reporting unit with goodwill is below its carrying amount.\nIf it is determined that the carrying value of the reporting unit including\ngoodwill exceeds its fair value, an impairment charge is recognized. We assess\nour equity investments for impairment whenever events or changes in\ncircumstances indicate that the carrying amount of the investment may not be\nrecoverable. If the decline in value is considered to be other than temporary\nthe investment is written down to its estimated fair value. Valuation\nallowances are provided against deferred tax assets when it is more likely\nthan not that some portion or all of the deferred tax asset will not be\nrealized. In June 2025, we announced the divestiture of select olefins and\npolyolefins assets and the associated businesses in Europe, in May 2026 we\ncompleted the divestiture. In connection with the divestiture we recognized\nselling expenses, separation costs and employee-related charges (collectively\nreferred to as \"European transaction costs\"), income from the transition\nservice agreement and loss on sale of business. In April 2025, the company\nannounced the Cash Improvement Plan, focused on strengthening financial\nperformance, which resulted in employee-related charges across all segments.\nIn March 2025, we announced the permanent closure of our Dutch PO joint\nventure asset, resulting in the recognition of shutdown-related charges in our\nIntermediates & Derivatives (\"I&D\") segment. Additionally, we recognized\nshutdown and employee-related charges related to sites in our Advanced Polymer\nSolutions (\"APS\") and Olefins & Polyolefins – Europe, Asia, International\n(\"O&P-EAI\") segments. In February 2025, we ceased business operations at our\nHouston refinery. Accordingly, our refining business, previously disclosed as\nthe Refining segment, is reported as a discontinued operation.\n\nThese non-GAAP financial measures as presented herein, may not be comparable\nto similarly titled measures reported by other companies due to differences in\nthe way the measures are calculated. In addition, we include calculations for\ncertain other financial measures to facilitate understanding. This release\ncontains time sensitive information that is accurate only as of the time\nhereof. Information contained in this release is unaudited and subject to\nchange.\n\nLyondellBasell undertakes no obligation to update the information presented\nherein except to the extent required by law.\n\nAdditional operating and financial information may be found on our website at\ninvestors.lyondellbasell.com\n(https://www.globenewswire.com/Tracker?data=Za8pqVAilsvwVNiliynvAVoRABMxZ0258ho6o9MxPigb3KyL45VBWYOZ5nRqudU9wQycu753ZMRkAORH9IwrTc70FAbvZxJb2E7cs2xkfo7CV5wdl2mQmcH4HJ0ffhyJ).\n\nSource: LyondellBasell Industries\n\nInvestor Contact: David Dennison +1 713-309-4987\nMedia Contact: Barrie Lee +1 713-309-7575\n\n Table 2 - Reconciliations of Net Income to Net Income Excluding Identified Items and to EBITDA Including and Excluding Identified Items \n Three Months Ended Six Months Ended \n Millions of U.S. dollars June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 \n Net income $ 559 $ 125 $ 115 $ 684 $ 292 \n Identified items \n add: Loss on sale of business, pre-tax ((a)) 734 — — 734 — \n add: Asset write-downs, pre-tax ((b)) 74 15 32 89 32 \n add: Cash Improvement Plan costs, pre-tax ((c)) 31 — 20 31 20 \n add: Site closure costs, pre-tax ((d)) 30 4 — 34 117 \n add: European transaction costs, net of transition service agreement income, pre-tax ((e)) (11 ) 10 10 (1 ) 10 \n less: (Income) loss from discontinued operations, pre-tax 17 18 47 35 (149 ) \n less: Benefit from income taxes related to identified items (33 ) (9 ) (22 ) (42 ) (10 ) \n Net income excluding identified items $ 1,401 $ 163 $ 202 $ 1,564 $ 312 \n \n Net income $ 559 $ 125 $ 115 $ 684 $ 292 \n Provision for (benefit from) income taxes 232 (6 ) 62 226 140 \n Depreciation and amortization 347 342 332 689 655 \n Interest expense, net 114 107 97 221 174 \n EBITDA 1,252 568 606 1,820 1,261 \n Identified items \n add: Loss on sale of business ((a)) 734 — — 734 — \n add: Asset write-downs ((b)) 74 15 32 89 32 \n add: Cash Improvement Plan costs ((c)) 31 — 20 31 20 \n add: Site closure costs ((d)) 30 4 — 34 117 \n add: European transaction costs, net of transition service agreement income ((e)) (11 ) 10 10 (1 ) 10 \n less: EBITDA from discontinued operations 17 18 47 35 (149 ) \n EBITDA excluding identified items $ 2,127 $ 615 $ 715 $ 2,742 $ 1,291 \n \n\n((a) In May 2026, we disposed of select European O&P assets and the associated\nbusinesses, resulting in the recognition of a loss in our O&P-EAI segment.)\n((b) Includes asset write-downs in excess of $10 million in aggregate for the\nperiod. For the six months ended June 30, 2026, we recognized non-cash asset\nwrite-downs of $89 million, including a $74 million impairment charge\nrecognized in the second quarter related to a plastic waste sorting facility\nin Houston, Texas, within our Olefins & Polyolefins – Americas segment and\n$15 million related to property, plant and equipment (\"PP&E\") in the O&P-EAI\nsegment. For the six months ended June 30, 2025, we recognized non-cash\nimpairments charges of $32 million, related to PP&E associated with the\nEuropean assets classified as held for sale within our O&P EAI segment.)\n((c) In April 2025, the company announced the Cash Improvement Plan, focused\non strengthening financial performance, which resulted in employee-related\ncharges across all segments.)\n((d) For the six months ended June 30, 2026, we recognized site closure costs\nof $34 million, including $31 million of employee-related charges associated\nwith the planned closure of our polypropylene asset in Brindisi, Italy, within\nour O&P-EAI segment. In March 2025, we announced the permanent closure of our\nDutch PO joint venture asset, which resulted in shutdown-related charges of\n$117 million for the six months ended June 30, 2025, within our I&D segment. )\n((e) In June 2025, we announced plans to sell select European olefins and\npolyolefins assets and the associated businesses, resulting in selling\nexpenses, separation costs and employee-related charges in our O&P-EAI\nsegment. Transition service agreement income was $8 million, for the three and\nsix months ended June 30, 2026.)\n\n Table 3 - Reconciliation of Diluted EPS to Diluted EPS Excluding Identified Items \n Three Months Ended Six Months Ended \n June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 \n Diluted earnings per share $ 1.71 $ 0.38 $ 0.34 $ 2.10 $ 0.88 \n Identified items \n add: Loss on sale of business 2.27 — — 2.27 — \n add: Asset write-downs ((a)) 0.18 0.03 0.07 0.21 0.07 \n add: Cash Improvement Plan costs 0.07 — 0.05 0.07 0.05 \n add: Site closure costs 0.06 0.01 — 0.07 0.27 \n add: European transaction costs, net of transition service agreement income (0.03 ) 0.03 0.03 — 0.03 \n less: (Income) loss from discontinued operations 0.04 0.04 0.13 0.08 (0.35 ) \n Diluted earnings per share excluding identified items $ 4.30 $ 0.49 $ 0.62 $ 4.80 $ 0.95 \n \n\n((a) Includes asset write-downs in excess of $10 million in aggregate for the\nperiod.)\n\n Table 4 - Calculation of Cash and Liquid Investments and Total Liquidity \n Millions of U.S. dollars June 30, 2026 \n Cash and cash equivalents $ 2,630 \n Restricted cash 10 \n Short-term investments — \n Cash and liquid investments 2,640 \n add: \n Availability under Senior Revolving Credit Facility 3,750 \n Availability under U.S. Receivables Facility 700 \n Total liquidity $ 7,090 \n \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/90b1dbf6-f3b2-476b-a43d-e93df5df8728)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX60FTKR","title":"LyondellBasell reports second quarter 2026 earnings","author":"Globe Newswire","ticker":"LYB","created":"2026-07-31T10:30:00.397Z","tickers":["LYB"],"exchange":"NYSE","article_body":"* Net income: $0.6 billion, $1.4 billion excluding identified items(1)\n* Diluted earnings per share: $1.71 per share; $4.30 per share excluding\nidentified items\n* EBITDA: $1.3 billion, $2.1 billion excluding identified items\n* Strengthened the portfolio through the divestiture of select European\nassets, structurally improving the cost position and aligning the company's\nEuropean footprint to its strategy\n* Continued to deliver meaningful fixed-cost reductions and lower capital\nexpenditures through the Cash Improvement Plan\n* Capitalized on improved market conditions through disciplined commercial\nexecution\nHOUSTON and LONDON, July 31, 2026 (GLOBE NEWSWIRE) -- LyondellBasell\nIndustries (NYSE: LYB) (the \"company\") today announced results for the second\nquarter 2026. Comparisons with the prior quarter and second quarter 2025 are\navailable in the following table:\n\nTable 1 - Earnings Summary\n\n Millions of U.S. dollars (except share data) Three Months Ended Six Months Ended \n June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 \n Sales and other operating revenues $ 9,177 $ 7,197 $ 7,658 $ 16,374 $ 15,335 \n Net income 559 125 115 684 292 \n Diluted earnings per share 1.71 0.38 0.34 2.10 0.88 \n Weighted average diluted share count 323 323 322 323 323 \n EBITDA (1) 1,252 568 606 1,820 1,261 \n\nExcluding Identified Items(1)\n\n Net income excluding identified items $ 1,401 $ 163 $ 202 $ 1,564 $ 312 \n Diluted earnings per share excluding identified items 4.30 0.49 0.62 4.80 0.95 \n Loss on sale of business, pre-tax 734 — — 734 — \n Asset write-downs, pre-tax 74 15 32 89 32 \n Cash Improvement Plan costs, pre-tax 31 — 20 31 20 \n Site closure costs, pre-tax 30 4 — 34 117 \n European transaction costs, net of transition service agreement income, pre-tax (11 ) 10 10 (1 ) 10 \n (Income) loss from discontinued operations, pre-tax 17 18 47 35 (149 ) \n EBITDA excluding identified items 2,127 615 715 2,742 1,291 \n\n((1) See “Information Related to Financial Measures” for a discussion of\nthe company’s use of non-GAAP financial measures and Tables 2-4 for\nreconciliations or calculations of these financial measures. “Identified\nitems” include adjustments for lower of cost or market (\"LCM\"), gain or loss\non sale of business, asset write-downs in excess of $10 million in aggregate\nfor the period, Cash Improvement Plan costs, site closure costs, European\ntransaction costs, net of transition service agreement income, and\ndiscontinued operations.)\n\n“In a dynamic macroeconomic environment, we delivered exceptional results\nthrough deliberate commercial actions, the strength of our advantaged\nportfolio and improved market conditions supporting margin expansion,” said\nPeter Vanacker, LYB chief executive officer. “We responded quickly to the\nglobal supply disruption by increasing operating rates to serve our customers,\ndemonstrating the flexibility and resilience of our global asset base and\nsupply chain. We also took decisive actions with the divestment of select\nEuropean assets and continued progress on our Cash Improvement Plan. These\nactions are repositioning LYB with a structurally lower cost base providing\nimproved margins and enhanced cash generation. We continue to prioritize\nsafety, reliability, cost discipline and capital allocation to deliver\nsustainable value for our shareholders.”\n\nSECOND QUARTER 2026 RESULTS\nThe company reported net income for the second quarter 2026 of $559 million,\nor $1.71 per diluted share. During the quarter, the company recognized\n$842 million of identified items, net of tax. These items, which impacted\nsecond quarter earnings by $2.59 per diluted share, included the loss on sale\nfrom the divestiture of select European assets and a write down related to an\nOlefins & Polyolefins (O&P) – Americas joint venture. Second quarter 2026\nEBITDA was $1.3 billion, or $2.1 billion excluding identified items.\n\nIn the second quarter, geopolitical instability resulted in dynamic and\nsupply-constrained market conditions across all business segments. In the O&P\n– Americas segment, results substantially improved relative to the prior\nquarter on expanding polymer margins and favorable co-product pricing due to\ntighter global market supply. The company operated its advantaged North\nAmerican assets at approximately 90% utilization capitalizing on favorable\nmarket conditions. O&P – Europe, Asia and International also benefited from\nimproved polymer spreads driven by supply chain disruptions and stronger joint\nventure contributions.\n\nIntermediates and Derivatives (I&D) delivered higher earnings driven by\nimproving oxyfuels, methanol and PO derivatives margins partially offset by\nthe Bayport PO/TBA unplanned outage during the quarter. Bayport was\nsuccessfully restarted in June, exiting the quarter at full operating rates\nand positioning the business for improved volume performance in the second\nhalf of the year.\n\nLYB generated $752 million in cash from operating activities during the second\nquarter. Working capital was a use of cash during the quarter given higher\nprices and increased operating rates to capture favorable market opportunities\ncaused by global supply disruptions. The second quarter included a $310\nmillion cash contribution in connection with the completion of the European\nasset divestiture, as expected. Capital allocation was balanced between\ncapital expenditures of $270 million and $224 million of shareholder returns\nthrough dividends. At the end of the quarter, LYB held $2.6 billion in cash\nand cash equivalents and $7.1 billion in available liquidity.\n\nSTRATEGY HIGHLIGHTS\nLYB reached an important milestone in its portfolio transformation with the\ncompletion of the divestiture of four European assets during the second\nquarter. This demonstrates the company's continued progress to Grow and\nUpgrade the Core as part of its three-pillar strategy. The company is now\nbetter positioned with increased resilience and greater flexibility to\nnavigate the cycle and capture market upside by increasing the proportion of\nits assets connected to advantaged feedstocks.\n\nLYB remains focused on strengthening its balance sheet through disciplined and\nbalanced capital allocation and strong cash generation. The company is on\ntarget to deliver $500 million incremental cash through its Cash Improvement\nPlan by the end of 2026, driven primarily by fixed-cost reductions and lower\ncapital expenditures.\n\nOUTLOOK\nAs shown in recent weeks, conditions in the Middle East remain fluid, and we\nexpect this to continue to be a source of volatility for energy and\npetrochemical value chains. The pace, timing and magnitude at which\nconflict-impacted supply will return to the market remains uncertain with the\nrecovery period likely extending into 2027. While we do not anticipate\nmaterial demand deterioration in our key end markets, uncertainty on the\nnear-term price outlook could temporarily impact normal buying patterns.\n\nThe restart of Bayport PO/TBA should provide volume uplift in the I&D segment,\nwhile planned downtime at the Clinton facility will impact polyolefins volumes\nin the second half of the year. To align with global demand and the company's\nplanned maintenance, LYB expects third quarter operating rates of 85% for\nNorth American O&P assets, 70% for European O&P assets and 85% for I&D assets.\n\nLYB remains focused on commercial and operational agility in this dynamic\nmarket while continuing to execute the Cash Improvement Plan. The company's\ncapital allocation priorities remain unchanged: safely operate and maintain\nassets, strengthen the balance sheet though disciplined deleveraging including\nthe scheduled note maturity repayment in September, maintain an attractive\ndividend and invest selectively in opportunities that enhance long-term\nshareholder value.\n\nCONFERENCE CALL\nLYB will host a conference call July 31 at 11 a.m. ET. Participants on the\ncall will include Chief Executive Officer Peter Vanacker, Executive Vice\nPresident and Chief Financial Officer Agustin Izquierdo, Executive Vice\nPresident of Global Olefins and Polyolefins Kim Foley, Executive Vice\nPresident of Intermediates and Derivatives Aaron Ledet, Executive Vice\nPresident of Advanced Polymer Solutions Torkel Rhenman and Head of Investor\nRelations David Dennison. For event access, the toll-free dial-in number is\n1-877-407-8029, international dial-in number is 201-689-8029 or click the\nCallMe link\n(https://www.globenewswire.com/Tracker?data=3hZOUN2ivSpwGwHyS82rxK12OaD5bwU95FOmwyVuXucHNYDxukRs3NLFpmJCkQYVL4SMDYO8gKdC0CpUQz6YSDi_icCC6zBuSElwd3MTpA3MTFpfWBv8DW9X-ODuVjNJpLoaMXYfey7mE9M7W25LW-DFzLPhfvY_t6VwBg7OOyL5Zlrg-cbwfrvWRUpfxRakB3iHJVNw5IiteC6v9WcPPlnoldW61r5DDV04Q-PAGic=).\nThe slides and webcast that accompany the call will be available at\ninvestors.lyondellbasell.com/earnings\n(https://www.globenewswire.com/Tracker?data=Za8pqVAilsvwVNiliynvAVoRABMxZ0258ho6o9MxPigYR87BYngpfW3VUIOVfDOqnZ26mvfpMVh3BB0ooZYTZuMwp5q1nRlP8wtb9xKMfAnDVoJ9JJ96TI8sQ-3ISgZSGe7w6jQKeW0_tjULKa-sjA==).\nA replay of the call will be available from 1:00 p.m. ET July 31 until August\n31, 2026. The replay toll-free dial-in numbers are 1-877-407-8029 and\n201-689-8029. The access ID for each is 13746218.\n\nABOUT LYONDELLBASELL\nWe are LyondellBasell (NYSE: LYB) – a leader in the global chemical industry\ncreating solutions for everyday sustainable living. Through advanced\ntechnology and focused investments, we are enabling a circular and low carbon\neconomy. Across all we do, we aim to unlock value for our customers, investors\nand society. As one of the world's largest producers of polymers and a leader\nin polyolefin technologies, we develop, manufacture and market high-quality\nand innovative products for applications ranging from sustainable\ntransportation and food safety to clean water and quality healthcare. For more\ninformation, please visit www.LyondellBasell.com or follow @LyondellBasell on\nLinkedIn.\n\nFORWARD-LOOKING STATEMENTS\nThe statements in this release relating to matters that are not historical\nfacts are forward-looking statements. These forward-looking statements are\nbased upon assumptions of management of LyondellBasell which are believed to\nbe reasonable at the time made and are subject to significant risks and\nuncertainties. When used in this release, the words “estimate,”\n“believe,” “continue,” “could,” “intend,” “may,”\n“plan,” “potential,” “predict,” “should,” “will,”\n“expect,” and similar expressions are intended to identify forward-looking\nstatements, although not all forward-looking statements contain such\nidentifying words. Actual results could differ materially based on factors\nincluding, but not limited to, market conditions, including the prolonged\nindustry downturn, the business cyclicality of the chemical and polymers\nindustries; the availability, cost and price volatility of raw materials and\nutilities, particularly the cost of oil, natural gas, and associated natural\ngas liquids; our ability to successfully implement initiatives identified\npursuant to our Value Enhancement Program and generate anticipated earnings;\ncompetitive product and pricing pressures; labor conditions; our ability to\nattract and retain key personnel; operating interruptions (including leaks,\nexplosions, fires, weather-related incidents, mechanical failure, unscheduled\ndowntime, supplier disruptions, labor shortages, strikes, work stoppages or\nother labor difficulties, transportation interruptions, spills and releases\nand other environmental risks); the supply/demand balances for our and our\njoint ventures’ products; industry production capacities, operating rates,\nand the pace of global capacity rationalizations; the impacts and scope of the\nglobal supply disruption resulting from the conflict in Ukraine and the Middle\nEast; our ability to manage costs; future financial and operating results; our\nability to complete capital projects on time and on budget and successfully\noperate the asset; our ability to align our assets and grow and upgrade our\ncore; our ability to reduce our fixed costs and increase cash flow; legal and\nenvironmental proceedings; tax rulings and related consequences or\nproceedings; the impacts of tariffs and trade disruptions; technological\ndevelopments, and our ability to develop new products and process\ntechnologies; our ability to meet our sustainability goals, including the\nability to operate safely, increase production of recycled and renewable-based\npolymers to meet our targets and forecasts, and reduce our emissions and\nachieve net zero emissions by the time set in our goals; our ability to\nprocure energy from renewable sources; our ability to build a profitable\nCircular & Low Carbon Solutions business; our ability to improve the business\nperformance of our Advanced Polymers Solutions segment and its ability to\nsecure new customers; potential governmental regulatory actions; political\nunrest and terrorist acts; risks and uncertainties posed by international\noperations, including foreign currency fluctuations; our ability to maintain\nour investment-grade credit rating and execute our capital allocation\nstrategy, including our ability to pay dividends; and our ability to comply\nwith debt covenants and to repay our debt. Additional factors that could cause\nresults to differ materially from those described in the forward-looking\nstatements can be found in the “Risk Factors” section of our Form 10-K for\nthe year ended December 31, 2025, which can be found at\nwww.LyondellBasell.com on the Investors page and on the Securities and\nExchange Commission’s website at www.sec.gov. There is no assurance that any\nof the actions, events or results of the forward-looking statements will\noccur, or if any of them do, what impact they will have on our results of\noperations or financial condition. Forward-looking statements speak only as of\nthe date they were made and are based on the estimates and opinions of\nmanagement of LyondellBasell at the time the statements are made.\nLyondellBasell does not assume any obligation to update forward-looking\nstatements should circumstances or management’s estimates or opinions\nchange, except as required by law.\n\nINFORMATION RELATED TO FINANCIAL MEASURES\nThis release makes reference to certain non-GAAP financial measures as defined\nin Regulation G of the U.S. Securities Exchange Act of 1934, as amended.\n\nWe report our financial results in accordance with U.S. generally accepted\naccounting principles (\"GAAP\"), but believe that certain non-GAAP financial\nmeasures, such as EBITDA, and EBITDA, net income and diluted EPS exclusive of\nidentified items provide useful supplemental information to investors\nregarding the underlying business trends and performance of the company's\nongoing operations and are useful for period-over-period comparisons of such\noperations. Non-GAAP financial measures should be considered as a supplement\nto, and not as a substitute for, or superior to, the financial measures\nprepared in accordance with GAAP.\n\nWe calculate EBITDA as net income (loss) plus interest expense, net, provision\nfor (benefit from) income taxes, and depreciation and amortization. EBITDA\nshould not be considered an alternative to profit or operating profit for any\nperiod as an indicator of our performance, or as an alternative to operating\ncash flows as a measure of our liquidity. We also present EBITDA, net income\nand diluted EPS exclusive of identified items. Identified items include\nadjustments for lower of cost or market (“LCM”), gain or loss on sale of\nbusiness, asset write-downs in excess of $10 million in aggregate for the\nperiod, Cash Improvement Plan costs, site closure costs, European transaction\ncosts, net of transition service agreement income, and discontinued\noperations. Asset write-downs include impairments of goodwill and impairments\nof long-lived assets. Our inventories are stated at the lower of cost or\nmarket. Cost is determined using the last-in, first-out (“LIFO”) inventory\nvaluation methodology, which means that the most recently incurred costs are\ncharged to cost of sales and inventories are valued at the earliest\nacquisition costs. Fluctuation in the prices of crude oil, natural gas and\ncorrelated products from period to period may result in the recognition of\ncharges to adjust the value of inventory to the lower of cost or market in\nperiods of falling prices and the reversal of those charges in subsequent\ninterim periods, within the same fiscal year as the charge, as market prices\nrecover. A gain or loss on sale of a business is calculated as the\nconsideration received from the sale less its carrying value. We evaluate\nproperty, plant and equipment and definite-lived intangible assets whenever\nimpairment indicators are present. If it is determined that an asset or asset\ngroup’s undiscounted future cash flows will not be sufficient to recover the\ncarrying amount, an impairment charge is recognized to write the asset down to\nits estimated fair value. Goodwill is tested for impairment annually in the\nfourth quarter or whenever events or changes in circumstances indicate that\nthe fair value of a reporting unit with goodwill is below its carrying amount.\nIf it is determined that the carrying value of the reporting unit including\ngoodwill exceeds its fair value, an impairment charge is recognized. We assess\nour equity investments for impairment whenever events or changes in\ncircumstances indicate that the carrying amount of the investment may not be\nrecoverable. If the decline in value is considered to be other than temporary\nthe investment is written down to its estimated fair value. Valuation\nallowances are provided against deferred tax assets when it is more likely\nthan not that some portion or all of the deferred tax asset will not be\nrealized. In June 2025, we announced the divestiture of select olefins and\npolyolefins assets and the associated businesses in Europe, in May 2026 we\ncompleted the divestiture. In connection with the divestiture we recognized\nselling expenses, separation costs and employee-related charges (collectively\nreferred to as \"European transaction costs\"), income from the transition\nservice agreement and loss on sale of business. In April 2025, the company\nannounced the Cash Improvement Plan, focused on strengthening financial\nperformance, which resulted in employee-related charges across all segments.\nIn March 2025, we announced the permanent closure of our Dutch PO joint\nventure asset, resulting in the recognition of shutdown-related charges in our\nIntermediates & Derivatives (\"I&D\") segment. Additionally, we recognized\nshutdown and employee-related charges related to sites in our Advanced Polymer\nSolutions (\"APS\") and Olefins & Polyolefins – Europe, Asia, International\n(\"O&P-EAI\") segments. In February 2025, we ceased business operations at our\nHouston refinery. Accordingly, our refining business, previously disclosed as\nthe Refining segment, is reported as a discontinued operation.\n\nThese non-GAAP financial measures as presented herein, may not be comparable\nto similarly titled measures reported by other companies due to differences in\nthe way the measures are calculated. In addition, we include calculations for\ncertain other financial measures to facilitate understanding. This release\ncontains time sensitive information that is accurate only as of the time\nhereof. Information contained in this release is unaudited and subject to\nchange.\n\nLyondellBasell undertakes no obligation to update the information presented\nherein except to the extent required by law.\n\nAdditional operating and financial information may be found on our website at\ninvestors.lyondellbasell.com\n(https://www.globenewswire.com/Tracker?data=Za8pqVAilsvwVNiliynvAVoRABMxZ0258ho6o9MxPigb3KyL45VBWYOZ5nRqudU9wQycu753ZMRkAORH9IwrTc70FAbvZxJb2E7cs2xkfo7CV5wdl2mQmcH4HJ0ffhyJ).\n\nSource: LyondellBasell Industries\n\nInvestor Contact: David Dennison +1 713-309-4987\nMedia Contact: Barrie Lee +1 713-309-7575\n\n Table 2 - Reconciliations of Net Income to Net Income Excluding Identified Items and to EBITDA Including and Excluding Identified Items \n Three Months Ended Six Months Ended \n Millions of U.S. dollars June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 \n Net income $ 559 $ 125 $ 115 $ 684 $ 292 \n Identified items \n add: Loss on sale of business, pre-tax ((a)) 734 — — 734 — \n add: Asset write-downs, pre-tax ((b)) 74 15 32 89 32 \n add: Cash Improvement Plan costs, pre-tax ((c)) 31 — 20 31 20 \n add: Site closure costs, pre-tax ((d)) 30 4 — 34 117 \n add: European transaction costs, net of transition service agreement income, pre-tax ((e)) (11 ) 10 10 (1 ) 10 \n less: (Income) loss from discontinued operations, pre-tax 17 18 47 35 (149 ) \n less: Benefit from income taxes related to identified items (33 ) (9 ) (22 ) (42 ) (10 ) \n Net income excluding identified items $ 1,401 $ 163 $ 202 $ 1,564 $ 312 \n \n Net income $ 559 $ 125 $ 115 $ 684 $ 292 \n Provision for (benefit from) income taxes 232 (6 ) 62 226 140 \n Depreciation and amortization 347 342 332 689 655 \n Interest expense, net 114 107 97 221 174 \n EBITDA 1,252 568 606 1,820 1,261 \n Identified items \n add: Loss on sale of business ((a)) 734 — — 734 — \n add: Asset write-downs ((b)) 74 15 32 89 32 \n add: Cash Improvement Plan costs ((c)) 31 — 20 31 20 \n add: Site closure costs ((d)) 30 4 — 34 117 \n add: European transaction costs, net of transition service agreement income ((e)) (11 ) 10 10 (1 ) 10 \n less: EBITDA from discontinued operations 17 18 47 35 (149 ) \n EBITDA excluding identified items $ 2,127 $ 615 $ 715 $ 2,742 $ 1,291 \n \n\n((a) In May 2026, we disposed of select European O&P assets and the associated\nbusinesses, resulting in the recognition of a loss in our O&P-EAI segment.)\n((b) Includes asset write-downs in excess of $10 million in aggregate for the\nperiod. For the six months ended June 30, 2026, we recognized non-cash asset\nwrite-downs of $89 million, including a $74 million impairment charge\nrecognized in the second quarter related to a plastic waste sorting facility\nin Houston, Texas, within our Olefins & Polyolefins – Americas segment and\n$15 million related to property, plant and equipment (\"PP&E\") in the O&P-EAI\nsegment. For the six months ended June 30, 2025, we recognized non-cash\nimpairments charges of $32 million, related to PP&E associated with the\nEuropean assets classified as held for sale within our O&P EAI segment.)\n((c) In April 2025, the company announced the Cash Improvement Plan, focused\non strengthening financial performance, which resulted in employee-related\ncharges across all segments.)\n((d) For the six months ended June 30, 2026, we recognized site closure costs\nof $34 million, including $31 million of employee-related charges associated\nwith the planned closure of our polypropylene asset in Brindisi, Italy, within\nour O&P-EAI segment. In March 2025, we announced the permanent closure of our\nDutch PO joint venture asset, which resulted in shutdown-related charges of\n$117 million for the six months ended June 30, 2025, within our I&D segment. )\n((e) In June 2025, we announced plans to sell select European olefins and\npolyolefins assets and the associated businesses, resulting in selling\nexpenses, separation costs and employee-related charges in our O&P-EAI\nsegment. Transition service agreement income was $8 million, for the three and\nsix months ended June 30, 2026.)\n\n Table 3 - Reconciliation of Diluted EPS to Diluted EPS Excluding Identified Items \n Three Months Ended Six Months Ended \n June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 \n Diluted earnings per share $ 1.71 $ 0.38 $ 0.34 $ 2.10 $ 0.88 \n Identified items \n add: Loss on sale of business 2.27 — — 2.27 — \n add: Asset write-downs ((a)) 0.18 0.03 0.07 0.21 0.07 \n add: Cash Improvement Plan costs 0.07 — 0.05 0.07 0.05 \n add: Site closure costs 0.06 0.01 — 0.07 0.27 \n add: European transaction costs, net of transition service agreement income (0.03 ) 0.03 0.03 — 0.03 \n less: (Income) loss from discontinued operations 0.04 0.04 0.13 0.08 (0.35 ) \n Diluted earnings per share excluding identified items $ 4.30 $ 0.49 $ 0.62 $ 4.80 $ 0.95 \n \n\n((a) Includes asset write-downs in excess of $10 million in aggregate for the\nperiod.)\n\n Table 4 - Calculation of Cash and Liquid Investments and Total Liquidity \n Millions of U.S. dollars June 30, 2026 \n Cash and cash equivalents $ 2,630 \n Restricted cash 10 \n Short-term investments — \n Cash and liquid investments 2,640 \n add: \n Availability under Senior Revolving Credit Facility 3,750 \n Availability under U.S. Receivables Facility 700 \n Total liquidity $ 7,090 \n \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/90b1dbf6-f3b2-476b-a43d-e93df5df8728)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-07-31T10:30:00.486170905Z","server_sent_at_ms":1785493800486},"received_at":"2026-07-31T10:30:00.553Z","source_url":"https://www.globenewswire.com/news-release/2026/07/31/3336680/0/en/lyondellbasell-reports-second-quarter-2026-earnings.html"},"analysis":{"id":"93841","press_release_id":"104826","analysis_json":{"industry":{"label":"Chemicals","sector":"Materials"},"redFlags":["Significant identified items of $842 million impacted GAAP results, including asset write-downs and divestiture losses","Planned downtime at Clinton facility will impact polyolefins volumes in H2 2026","Management warns geopolitical volatility and supply disruptions will extend into 2027"],"eventType":"earnings","narrative":"LyondellBasell reported Q2 2026 revenue of $9.18 billion, with GAAP net income rising to $559 million or $1.71 per share, significantly up from $0.34 per share in the prior year.\n\nAdjusted EBITDA increased to $2.13 billion, driven by margin expansion and the successful completion of four European asset divestitures, which contributed $310 million in cash.\n\nThe company ended the quarter with $7.09 billion in liquidity and warned that geopolitical instability and planned maintenance at the Clinton facility would impact volumes in the second half of the year.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Strong earnings beat and margin expansion offset by H2 cautionary outlook."},"keyFigures":{"eps":1.71,"revenue":9177000000,"customDimensions":{"capex":270000000,"ebitda":1252000000,"adj_eps":4.3,"liquidity":7090000000,"adj_ebitda":2127000000,"net_income":559000000,"adj_net_income":1401000000,"operating_cash_flow":752000000}},"quotedText":"In a dynamic macroeconomic environment, we delivered exceptional results through deliberate commercial actions, the strength of our advantaged portfolio and improved market conditions supporting margin expansion","namedEntities":{"people":[{"name":"Peter Vanacker","role":"CEO"},{"name":"Agustin Izquierdo","role":"CFO"},{"name":"Kim Foley","role":"EVP of Global Olefins and Polyolefins"},{"name":"Aaron Ledet","role":"EVP of Intermediates and Derivatives"},{"name":"Torkel Rhenman","role":"EVP of Advanced Polymer Solutions"},{"name":"David Dennison","role":"Head of Investor Relations"}],"products":["Bayport PO/TBA","Clinton facility","Dutch PO joint venture","Brindisi polypropylene asset"],"companies":[{"name":"LyondellBasell Industries","ticker":"LYB"}],"dollarAmounts":[{"amount":"$0.6 billion","context":"Net income"},{"amount":"$1.4 billion","context":"Net income excluding identified items"},{"amount":"$1.71 per share","context":"Diluted earnings per share"},{"amount":"$4.30 per share","context":"Diluted earnings per share excluding identified items"},{"amount":"$1.3 billion","context":"EBITDA"},{"amount":"$2.1 billion","context":"EBITDA excluding identified items"},{"amount":"$842 million","context":"Identified items, net of tax"},{"amount":"$752 million","context":"Cash from operating activities"},{"amount":"$310 million","context":"Cash contribution from European asset divestiture"},{"amount":"$224 million","context":"Shareholder returns through dividends"},{"amount":"$2.6 billion","context":"Cash and cash equivalents"},{"amount":"$7.1 billion","context":"Available liquidity"}]},"materialImpact":{"score":4,"reasoning":"Strong quarterly turnaround with GAAP EPS rising to $1.71 from $0.34 YoY and revenue exceeding $9 billion. Strategic milestone reached with the completion of European asset divestitures, significantly boosting adjusted EBITDA to $2.1 billion."},"tickerRelevance":{"others":[],"primary":"LYB"},"globalImportance":45,"audienceRelevance":35,"eventTypeSecondary":["operations_update"],"importanceComponents":{"tickerTier":"large-cap","eventGravity":"strong-q2-turnaround","sectorWeight":"materials"}},"event_type":"earnings","event_type_secondary":["operations_update"],"sentiment":"bullish","material_impact_score":4,"narrative":"LyondellBasell reported Q2 2026 revenue of $9.18 billion, with GAAP net income rising to $559 million or $1.71 per share, significantly up from $0.34 per share in the prior year.\n\nAdjusted EBITDA increased to $2.13 billion, driven by margin expansion and the successful completion of four European asset divestitures, which contributed $310 million in cash.\n\nThe company ended the quarter with $7.09 billion in liquidity and warned that geopolitical instability and planned maintenance at the Clinton facility would impact volumes in the second half of the year.","key_figures":{"eps":1.71,"revenue":9177000000,"customDimensions":{"capex":270000000,"ebitda":1252000000,"adj_eps":4.3,"liquidity":7090000000,"adj_ebitda":2127000000,"net_income":559000000,"adj_net_income":1401000000,"operating_cash_flow":752000000}},"named_entities":{"people":[{"name":"Peter Vanacker","role":"CEO"},{"name":"Agustin Izquierdo","role":"CFO"},{"name":"Kim Foley","role":"EVP of Global Olefins and Polyolefins"},{"name":"Aaron Ledet","role":"EVP of Intermediates and Derivatives"},{"name":"Torkel Rhenman","role":"EVP of Advanced Polymer Solutions"},{"name":"David Dennison","role":"Head of Investor Relations"}],"products":["Bayport PO/TBA","Clinton facility","Dutch PO joint venture","Brindisi polypropylene asset"],"companies":[{"name":"LyondellBasell Industries","ticker":"LYB"}],"dollarAmounts":[{"amount":"$0.6 billion","context":"Net income"},{"amount":"$1.4 billion","context":"Net income excluding identified items"},{"amount":"$1.71 per share","context":"Diluted earnings per share"},{"amount":"$4.30 per share","context":"Diluted earnings per share excluding identified items"},{"amount":"$1.3 billion","context":"EBITDA"},{"amount":"$2.1 billion","context":"EBITDA excluding identified items"},{"amount":"$842 million","context":"Identified items, net of tax"},{"amount":"$752 million","context":"Cash from operating activities"},{"amount":"$310 million","context":"Cash contribution from European asset divestiture"},{"amount":"$224 million","context":"Shareholder returns through dividends"},{"amount":"$2.6 billion","context":"Cash and cash equivalents"},{"amount":"$7.1 billion","context":"Available liquidity"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-07-31T10:41:17.618Z","global_importance":45,"audience_relevance":35,"importance_components":{"tickerTier":"large-cap","eventGravity":"strong-q2-turnaround","sectorWeight":"materials"}},"durationMs":396995,"modelName":"glm-4.7"}}