LyondellBasell Reports Second Quarter 2020 Earnings

HOUSTON and LONDON, July 31, 2020

Second Quarter 2020 Highlights

• Net Income: $0.3 billion, $0.2 billion excluding LCM¹
• Diluted earnings per share: $0.94 per share, $0.68 per share excluding LCM
• EBITDA: $0.8 billion, $0.7 billion excluding LCM
• Generated $1.3 billion in cash from operating activities
• Issued over $2.0 billion of bonds at the lowest coupon rates in company history
• Bolstered liquidity to $5.8 billion as of June 30, 2020

Comparisons with the prior quarter and second quarter 2019 are available in the following table:

Table 1 - Earnings Summary
Millions of U.S. dollars (except share data)	Three Months Ended			Six Months Ended ARIVA.DE Börsen-Geflüster Werbung Weiter aufwärts? Kurzfristig positionieren in Lyondellbasell Industries MB5PL3 Ask: 1,50 Hebel: 4,45 mit moderatem Hebel Zum Produkt Morgan Stanley Den Basisprospekt sowie die Endgültigen Bedingungen und die Basisinformationsblätter erhalten Sie hier: MB5PL3,. Beachten Sie auch die weiteren Hinweise zu dieser Werbung. Der Emittent ist berechtigt, Wertpapiere mit open end-Laufzeit zu kündigen. Kurse Lyondellbasell Industries 97,00 € +4,39%
	June 30, 2020	March 31, 2020	June 30, 2019	June 30, 2020	June 30, 2019
Sales and other operating revenues	$5,546	$7,494	$9,048	$13,040	$17,826
Net income	314	144	1,003	458	1,820
Diluted earnings per share	0.94	0.42	2.70	1.36	4.88
Weighted average diluted share count	334	334	370	334	371
EBITDA (a)	760	646	1,579	1,406	3,007
Excluding LCM1
Net income	$226	$495	$1,003	$721	$1,820
Diluted earnings per share	0.68	1.47	2.70	2.15	4.88
LCM (benefits) charges, pre-tax	(96)	419	—	323	—
EBITDA	664	1,065	1,579	1,729	3,007

LyondellBasell Industries (NYSE: LYB) today announced net income for the second quarter 2020 of $0.3 billion, or  $0.94 per share.  The second quarter 2020 included a $88 million non-cash, inventory valuation benefit and $11 million of integration costs, net of tax, that impacted earnings by $0.26 per share and $0.03 per share, respectively.  Second quarter 2020 EBITDA was $0.8 billion, or $0.7 billion excluding LCM.

"LyondellBasell demonstrated the value of our core strengths in operational excellence, cost management and capital discipline by delivering resilient results despite declines in economic activity associated with the global response to COVID-19.  Our Olefins & Polyolefins businesses continued to benefit from strong demand for polymers used in consumer-driven packaging and healthcare applications.  As expected, our Intermediates & Derivatives, Refining and Advanced Polymer Solutions segments were impacted by significant reductions in demand for transportation fuels and polymers utilized in automotive manufacturing and other durable goods markets.  We believe the pandemic-driven decline in demand bottomed during the second quarter.  As the quarter progressed, demand and prices for polyethylene exports from North America improved and the U.S. ethane feedstock advantage returned during May and June with rebounding crude oil prices," said Bob Patel, LyondellBasell CEO.

"The company applied our experience with the first quarter progression of events in Asia to nimbly manage our global businesses and generate $1.3 billion of cash from operating activities during an extremely challenging second quarter.  We moved quickly to strengthen our balance sheet and bolster liquidity.  With our substantial and highly efficient cash generation, LyondellBasell remains well-positioned to navigate through these volatile market conditions," Patel said.

OUTLOOK

"Demand for our products is improving with increased economic activity.  In June and July, we raised operating rates and prices in response to increased demand for North American polyethylene exports to Asia.  With increased mobility and reductions in fuel inventories, we expect improving demand for our Refining and Oxyfuels & Related Products businesses.  Similarly, our Advanced Polymer Solutions segment is benefiting from rebounding demand for our plastics used in automotive manufacturing." 

"We remain focused on delivering the strategy we outlined in our Investor Day last September.  Our cash generation is strong.  We expect the recent startup of our Hyperzone polyethylene capacity, the establishment of new Asian joint ventures and the integration of our A. Schulman acquisition will all add to our profitability.  We accelerated our plans to reduce capital expenditures and are aggressively managing our inventories to prioritize liquidity and maximize cash flow.  Our focus on funding the dividend while remaining committed to an investment grade balance sheet continues to be the foundation of our capital deployment strategy.  Despite the volatile macro-economic environment, we believe LyondellBasell's leading portfolio, advantaged positions and disciplined approach will enable us to continue capturing opportunities and delivering resilient results through business cycles," Patel said.

LYONDELLBASELL BUSINESS RESULTS DISCUSSION BY REPORTING SEGMENT

LyondellBasell manages operations through six operating segments: 1) Olefins and Polyolefins - Americas; 2) Olefins and Polyolefins - Europe, Asia and International; 3) Intermediates and Derivatives; 4) Advanced Polymer Solutions; 5) Refining; and 6) Technology.

Comments and analysis represent underlying business activity and are exclusive of LCM inventory adjustments.

Olefins & Polyolefins - Americas (O&P-Americas) - Our O&P-Americas segment produces and markets Olefins & Co-products, polyethylene and polypropylene.

Table 2 - O&P-Americas Financial Overview
Millions of U.S. dollars	Three Months Ended			Six Months Ended
	June 30, 2020	March 31, 2020	June 30, 2019	June 30, 2020	June 30, 2019
Operating income	$107	$238	$504	$345	$888
EBITDA	248	366	635 Werbung Mehr Nachrichten zur Lyondellbasell Industries Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 06:39 - PR Newswire Pentwater Capital Management LP - Form 8.3 - Renalytix PLC 03:00 - PR Newswire AECI Limited - Acceptance of awards of performance shares: Long-term Incentive Plan (LTIP) 25.04.24 - ARIVA.DE Redaktion Airbus-Aktie verliert 2,38 Prozent (158,30 €) Sehen Sie sich dieses Unternehmen an:    Foto: andreas160578 - Pixabay Rasanter Aufstieg, Branchenrevolution und Jahresumsatz von 50 Mio. $ weiterlesen» Anzeige wo-site-teaser-box-16764_site-teaser-box_2024-04-26_09%253A00%253A00_2024-04-27_09%253A00%253A59