LyondellBasell reported second quarter revenue of $9.18 billion and GAAP EPS of $1.71. Revenue slightly missed the $9.22 billion consensus, while adjusted EPS of $4.30, which excludes a $2.59 per share impact from asset sales and other items, significantly beat the $3.56 estimate.
Key Highlights
- Adjusted EBITDA was $2.13 billion for the quarter, slightly beating the $2.12 billion consensus, driven by strong margin expansion amid supply constraints.
- The Olefins & Polyolefins (O&P) - Americas segment was the key driver, with results substantially improving as the company operated its North American assets at approximately 90% utilization to capitalize on favorable market conditions.
- The company completed the divestiture of select European assets during the quarter, a strategic milestone aimed at structurally lowering its cost base and improving portfolio resilience.