LyondellBasell announces net income for Q3 2023
by ChemOrbis Editorial Team - content@chemorbis.com
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.
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.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Stats: Türkiye’s cumulative polymer imports hit 3-year low in Jan-Sept
- PP, PE markets torn between firmer monomers and poor dynamics in Europe
- Peak season closes with modest PP, PE gains in China, except for LDPE’s strong stand
- India finally announces ADD on S-PVC imports: What’s in store for subject countries?
- Turkish PE players hunt for signs of a market bottom amid pending Nov offers
- Freight rates rise after prolonged slump; is this rebound here to say or just a dead cat bounce?
- India’s PVC price range narrows as low-end Chinese offers fade amid ADD speculation
- Slump deepens in European plastics recycling industry
- SE Asia’s PPH regains premium over China after 3 weeks
- Stats: China rapidly expands its share in SE Asia’s PP markets
