LyondellBasell reports second quarter 2026 earnings

Net income: $0.6 billion, $1.4 billion excluding identified items 1 Diluted earnings per share: $1.71 per share; $4.30 per share excluding identified items EBITDA: $1.3 billion, $2.1 billion excluding identified items Strengthened the portfolio through the divestiture of select European assets, structurally improving the cost position and aligning the company's European footprint to its strategy Continued to deliver meaningful fixed-cost reductions and lower capital expenditures through the Cash Improvement Plan Capitalized on improved market conditions through disciplined commercial execution HOUSTON and LONDON, July 31, 2026 (GLOBE NEWSWIRE) -- LyondellBasell Industries (NYSE: LYB) (the "company") today announced results for the second quarter 2026. Comparisons with the prior quarter and second quarter 2025 are available in the following table: Table 1 - Earnings Summary Millions of U.S. dollars (except share data) Three Months Ended Six Months Ended June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Sales and other operating revenues $ 9,177 $ 7,197 $ 7,658 $ 16,374 $ 15,335 Net income 559 125 115 684 292 Diluted earnings per share 1.71 0.38 0.34 2.10 0.88 Weighted average diluted share count 323 323 322 323 323 EBITDA 1 1,252 568 606 1,820 1,261 Excluding Identified Items 1 Net income excluding identified items $ 1,401 $ 163 $ 202 $ 1,564 $ 312 Diluted earnings per share excluding identified items 4.30 0.49 0.62 4.80 0.95 Loss on sale of business, pre-tax 734 — — 734 — Asset write-downs, pre-tax 74 15 32 89 32 Cash Improvement Plan costs, pre-tax 31 — 20 31 20 Site closure costs, pre-tax 30 4 — 34 117 European transaction costs, net of transition service agreement income, pre-tax (11 ) 10 10 (1 ) 10 (Income) loss from discontinued operations, pre-tax 17 18 47 35 (149 ) EBITDA excluding identified items 2,127 615 715 2,742 1,291 (1) See “Information Related to Financial Measures” for a discussion of the company’s use of non-GAAP financial measures and Tables 2-4 for reconciliations or calculations of these financial measures. “Identified items” include adjustments for lower of cost or market ("LCM"), gain or loss on sale of business, asset write-downs in excess of $10 million in aggregate for the period, Cash Improvement Plan costs, site closure costs, European transaction costs, net of transition service agreement income, and discontinued operations. “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,” said Peter Vanacker, LYB chief executive officer. “We responded quickly to the global supply disruption by increasing operating rates to serve our customers, demonstrating the flexibility and resilience of our global asset base and supply chain. We also took decisive actions with the divestment of select European assets and continued progress on our Cash Improvement Plan. These actions are repositioning LYB with a structurally lower cost base providing improved margins and enhanced cash generation. We continue to prioritize safety, reliability, cost discipline and capital allocation to deliver sustainable value for our shareholders.” SECOND QUARTER 2026 RESULTS The company reported net income for the second quarter 2026 of $559 million, or $1.71 per diluted share. During the quarter, the company recognized $842 million of identified items, net of tax. These items, which impacted second quarter earnings by $2.59 per diluted share, included the loss on sale from the divestiture of select European assets and a write down related to an Olefins & Polyolefins (O&P) – Americas joint venture. Second quarter 2026 EBITDA was $1.3 billion, or $2.1 billion excluding identified items. In the second quarter, geopolitical instability resulted in dynamic and supply-constrained market conditions across all business segments. In the O&P – Americas segment, results