LyondellBasell reported third quarter 2026 revenue of $8.50 billion and adjusted EPS of $2.54, falling short of analyst expectations for both the top and bottom lines. Results were heavily influenced by a significant sequential decline in the Olefins & Polyolefins (O&P) Americas segment due to softening prices, though this was partially offset by materially higher profitability in Intermediates & Derivatives driven by strong oxyfuel margins.
Key Highlights
- O&P Americas adjusted EBITDA dropped to $641 million from $1.27 billion in the previous quarter, as polymer and olefin prices softened amid Middle East market volatility.
- Intermediates & Derivatives adjusted EBITDA surged to $795 million, up from $386 million in Q2 2026, supported by favorable gasoline blend economics and the restart of the Bayport PO/TBA asset.
- The company agreed to sell its former Houston refinery site and related assets to a subsidiary of Valero Energy for $320.5 million, with the deal expected to close in Q4 2026.
- Cash flow from operations reached $1.7 billion, and the company maintained high liquidity of $7.7 billion after repaying a €500 million note maturity.