LyondellBasell announces net income for Q3 2023

According to an announcement on the company’s website, LyondellBasell’s net profit for the third quarter of 2023 was at $747 million or $2.29 per diluted share. It suggested increases year on year and quarter on quarter on the back of record intermediates earnings driven by exceptional oxyfuels and derivatives margins. Furthermore, the company’s EBITDA for the third quarter was $1.4 billion. The company’s net sales were at $10,625 million, down from $12,250 recorded in Q3 2022.

Weak demand in both the US and Europe, and new industry capacity put a relative limit on LyondellBasell’s global olefins and polyolefins margins.

The company generated $1.7 billion in cash from operating activities in the third quarter and achieved 102% cash conversion over the past twelve months.