LyondellBasell Industries recently released its 10-Q report. The company operates as a chemical producer with operations in the United States, Europe, Asia and other international markets, organized into five segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; and Technology. Its products include olefins and co-products, polyethylene, polypropylene, propylene oxide and derivatives, intermediate chemicals, compounding and engineered plastics, while its Technology segment develops and licenses process technologies and sells catalysts.
For the second quarter of 2026, income from continuing operations rose to $572 million from $139 million in the first quarter, while net income increased to $559 million from $125 million. Sales and other operating revenues climbed to $9.177 billion from $7.197 billion, and operating income jumped to $1.543 billion from $239 million. The company said the quarter benefited from improved margins tied to industry supply constraints as conflict in the Middle East extended into the period, with higher results in O&P-Americas, O&P-EAI and Intermediates and Derivatives.
The quarter also included a $734 million pre-tax loss on the sale of select European olefins and polyolefins assets and associated businesses. That divestiture helped reduce sales volumes, but it also drove a 5% revenue drag in the quarter and increased the effective tax rate to 29.2% from negative 1.5% in the first quarter. Other income included a $52 million gain from the sale of excess European emissions credits.
O&P-Americas posted operating income of $1.003 billion in the second quarter, up from $142 million in the first quarter, on revenues of $3.521 billion versus $2.437 billion. O&P-EAI swung to operating income of $158 million from a $68 million loss, while I&D rose to $268 million from $118 million. APS operating income increased to $57 million from $38 million, and Technology rose to $63 million from $7 million.
For the first six months of 2026, sales and other operating revenues were $16.374 billion, up from $15.335 billion a year earlier, and operating income reached $1.782 billion versus $399 million. Income from continuing operations was $711 million, compared with $178 million in the prior-year period, and net income was $684 million versus $292 million. During the period, the company generated $483 million of cash from operating activities, spent $539 million on capital projects, and returned $448 million to shareholders through dividends.
Impairments totaled $89 million in the first half, including $74 million in the second quarter tied to a plastic waste sorting facility in Houston, Texas, and the rest related to property, plant and equipment in O&P-EAI. SG&A expenses fell to $798 million from $836 million a year earlier, reflecting lower employee-related costs under the company’s cash improvement plan. Following these announcements, the company's shares moved 1.6%, and are now trading at a price of $61.41. If you want to know more, read the company's complete 10-Q report here.
