LyondellBasell Q2 2026 earnings
- Net income of $559 million for Q2 2026, $1.401 billion excluding identified items; diluted EPS $1.71 and $4.30 excluding identified items.
- EBITDA of $1.3 billion for the quarter and $2.127 billion excluding identified items.
- Completed divestiture of four European O&P assets (loss on sale pre‑tax $734 million included in identified items) and recognized $74 million of asset write‑downs.
- Generated $752 million cash from operations in Q2; targeting $500 million incremental cash through the Cash Improvement Plan by end‑2026.
Financial results
Q2 2026 sales were $9,177 million. Net income for the quarter was $559 million, or $1.71 per diluted share; net income excluding identified items was $1,401 million, or $4.30 per diluted share. Reported EBITDA was $1,252 million and EBITDA excluding identified items was $2,127 million. The company recognized $842 million of identified items, net of tax, which included a $734 million pre‑tax loss on sale.
Operations and segments
Olefins & Polyolefins – Americas saw substantial quarter‑on‑quarter improvement driven by expanding polymer margins and favorable co‑product pricing; North American assets operated at ~90% utilization. Intermediates & Derivatives earnings rose on stronger oxyfuels, methanol and PO derivative margins despite an unplanned Bayport PO/TBA outage that was restarted in June.
Portfolio, cash and capital allocation
The company completed the divestiture of four European O&P assets and recorded associated transaction and impairment items, including a $74 million write‑down related to a Houston plastic waste sorting facility. LYB generated $752 million of cash from operations, held $2.63 billion in cash and $7.09 billion in total liquidity at quarter end, spent $270 million in capex and returned $224 million to shareholders in dividends. The Cash Improvement Plan is on track to deliver $500 million incremental cash by the end of 2026.
Outlook and guidance
Management cited ongoing Middle East‑related supply volatility that could extend into 2027 and affect buying patterns. Expected Q3 operating rates: North American O&P 85%, European O&P 70% and I&D 85%. Priorities remain safety, reliability, deleveraging (including a scheduled note maturity repayment in September), maintaining the dividend and selective investment.
Source: LYB