LyondellBasell’s Q1 results improve quarterly, stable y-o-y
by ChemOrbis Editorial Team - content@chemorbis.com
LyondellBasell’s net income for the first quarter of 2024 was $473 million or $1.44 per diluted share, a press release on the company’s website revealed. The figure suggested an increase from the fourth quarter’s $185 million, while it slightly declined from $474 million announced in the same period last year.
The company’s EBITDA edged down from $1.1 billion reported in the first quarter of 2023 to $1 billion in Q1 2024. The company’s net sales were $9.9 billion, unchanged from Q4 2023 but down from $10.2 billion in the same period last year.
In North America, lower costs for natural gas-based feedstocks and energy benefited olefins and polyolefins margins while regional demand for PE improved.
In Europe, logistics disruptions in the Red Sea restricted competitive imports and led to increased volumes from the company’s local assets for olefins, PE, and PP.
Globally, tepid demand for durable goods continued to challenge volumes and margins for PP, the company said.
The company’s EBITDA edged down from $1.1 billion reported in the first quarter of 2023 to $1 billion in Q1 2024. The company’s net sales were $9.9 billion, unchanged from Q4 2023 but down from $10.2 billion in the same period last year.
In North America, lower costs for natural gas-based feedstocks and energy benefited olefins and polyolefins margins while regional demand for PE improved.
In Europe, logistics disruptions in the Red Sea restricted competitive imports and led to increased volumes from the company’s local assets for olefins, PE, and PP.
Globally, tepid demand for durable goods continued to challenge volumes and margins for PP, the company said.
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