LyondellBasell Reports Strong Q2 2024 Earnings with Business Growth

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announced its second quarter 2024 earnings, reporting net income of $924 million, or $2.82 per diluted share. The company saw improved profitability driven by increased production and seasonal demand, with EBITDA of $1.6 billion. Key business developments included the divestment of the Ethylene Oxide and Derivatives (EO&D) business for $700 million, the acquisition of a 35% stake in NATPET, and a strategic review of certain European assets. The company also increased its quarterly dividend by 7% to $1.34 per share and returned $513 million to shareholders through dividends and share repurchases.

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About LyondellBasell Industries N.V.

LyondellBasell Industries N.V. operates as a multinational chemical company, actively engaged in the production and sale of chemicals and polymers. Serving as one of the world's largest plastics, chemicals, and refining companies, its primary function is to produce materials that find applications across a wide range of markets, including packaging, electronics, automotive, and construction. The company specializes in the manufacture of olefins and polyolefins, essential components for creating plastics and resins used in everyday items. Additionally, it offers fuel-related products and technologies for refining crude oil, impacting industries reliant on energy and fuel efficiency. Headquartered in Houston, Texas, and Rotterdam, Netherlands, LyondellBasell is recognized for its global footprint and extensive supply chain, underscoring its importance in the global manufacturing landscape. Through its innovative materials and sustainable solutions, the company plays a critical role in enhancing product performance and promoting environmentally-friendly alternatives in modern industrial applications.