LyondellBasell Industries N.V. reported its financial results for the first quarter of 2026, revealing a net income of $125 million, a decrease from $177 million in the same period last year. The company's revenues for the quarter totaled $7.197 billion, reflecting a 6% decline from $7.677 billion in the first quarter of 2025. The decrease in revenue was attributed to lower average sales prices and reduced sales volumes, which were impacted by decreased demand and unplanned outages. Operating income for the quarter was $239 million, a significant increase from an operating loss of $88 million in the previous quarter, driven by improved margins in several segments.
Compared to the previous fiscal period, LyondellBasell's financial performance showed notable changes. The company experienced a 372% increase in operating income from the fourth quarter of 2025, where it reported an operating loss. This improvement was primarily due to lower feedstock costs and higher product prices, particularly in the Olefins and Polyolefins-Americas segment. However, the company faced challenges in its Olefins and Polyolefins-Europe, Asia, International segment, which reported a loss due to lower polymer volumes and impairment charges related to the sale of certain European assets.
In terms of strategic developments, LyondellBasell completed the sale of select European olefins and polyolefins assets on May 1, 2026, which is expected to enhance average margins while reducing costs. The company also announced a reduction in its quarterly dividend to $0.69 per share, resulting in total dividend payments of $224 million for the quarter. The company has approximately 34 million shares remaining under its current share repurchase authorization, which is set to expire in November 2026.
Operationally, LyondellBasell reported a decrease in cash used in operating activities, amounting to $269 million for the first quarter of 2026, compared to $579 million in the same period last year. The company’s cash and cash equivalents stood at $2.635 billion as of March 31, 2026. The total debt, including current maturities, was reported at $12.921 billion, with total unused availability under credit facilities of $4.650 billion. The company’s employee headcount remained stable, with 322,784,773 ordinary shares outstanding as of April 29, 2026.
Looking ahead, LyondellBasell anticipates improved market conditions across most of its business segments in the second quarter of 2026, driven by tighter supply dynamics and favorable pricing trends. The company expects further margin expansion in North America due to increased export demand and favorable crude-linked pricing dynamics. However, ongoing geopolitical uncertainties may continue to impact supply chains and pricing volatility. The company is aligning its operations to maximize value and match demand, particularly in its Olefins and Polyolefins segments.
About LyondellBasell Industries N.V.
LyondellBasell Industries N.V. is a leading global chemical company specializing in the production of olefins, polyolefins, intermediates, and derivatives. Its core activities include manufacturing plastics, chemicals, and refining crude oil into fuels. Serving diverse markets such as packaging, automotive, construction, and consumer goods, the company leverages technological innovation, cost efficiency, and sustainability initiatives to maintain competitive advantage in the petrochemical industry.
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