LyondellBasell Reports Decline in Q2 2025 Revenues and Net Income

LyondellBasell Industries N.V. reported a decline in financial performance for the second quarter of 2025, with total revenues of $7.66 billion, down from $8.68 billion in the same period last year. The company’s net income attributable to shareholders was $114 million, or $0.34 per diluted share, compared to $923 million, or $2.82 per diluted share, in the second quarter of 2024. For the first half of 2025, revenues totaled $15.34 billion, a decrease from $16.98 billion in the first half of 2024, while net income attributable to shareholders was $289 million, down from $1.39 billion.

The company experienced significant changes in its operational landscape, particularly due to the cessation of operations at its Houston refinery in February 2025, which has since been classified as a discontinued operation. This decision has impacted overall revenues and profitability, contributing to a $32 million impairment charge related to European assets classified as held for sale. Additionally, LyondellBasell announced plans to sell select olefins and polyolefins assets in Europe, with an expected loss on sale of approximately $700 million to $900 million upon closing, anticipated in the first half of 2026.

Operationally, LyondellBasell's segments showed varied performance. The Olefins and Polyolefins-Americas segment reported revenues of $2.38 billion, down from $2.66 billion in the previous year, while the Intermediates and Derivatives segment saw revenues decrease to $2.28 billion from $2.75 billion. The Advanced Polymer Solutions segment reported revenues of $917 million, a slight decrease from $943 million. The company’s total assets as of June 30, 2025, were $35.35 billion, down from $35.75 billion at the end of 2024.

In terms of strategic developments, LyondellBasell has been actively managing its capital allocation strategy, investing $1.02 billion in capital expenditures during the first half of 2025, primarily for sustaining maintenance and growth projects. The company also returned $1.08 billion to shareholders through dividends and share repurchases. As of June 30, 2025, LyondellBasell had $1.7 billion in cash and cash equivalents, with a total debt of $11.83 billion. The company plans to continue its focus on shareholder returns while navigating the challenges posed by market volatility and operational adjustments.

Looking ahead, LyondellBasell anticipates improved integrated polyethylene margins in North America due to increased domestic demand and favorable feedstock costs. However, the company remains cautious about ongoing trade volatility and its potential impact on operations. The expected operating rates for the third quarter are projected at 85% for O&P-Americas assets, 75% for European O&P-EAI assets, and 80% for I&D assets, reflecting the company's efforts to align production with market demand.