Earnings Summary: A snapshot of LyondellBasell’s Q2 2024 report

LyondellBasell Industries (NYSE: LYB), a leading chemical company that produces polymers, has reported operating results for the second quarter of fiscal 2024

• Second-quarter net income increased to $924 million or $2.82 per share from $715 million or $2.18 per share in the year-ago quarter
• Excluding special items, adjusted profit was $2.24 per share in the June quarter, vs. $2.44 per share in the prior-year quarter
• Sales and other operating revenues rose to $10.56 billion in Q2 from $9.93 billion a year earlier
• EBITDA came in at $1.6 billion in the second quarter; excluding special items, adjusted EBITDA was $1.4 billion
• Cash from operating activities was $1.3 billion at the end of the quarter; the management raised the quarterly dividend by 7% to $1.34 per share
• The company returned $513 million to shareholders through dividends and share repurchases during the quarter
• For Q3, the company expects margins to continue to benefit from low costs for natural gas and natural gas liquids