LyondellBasell (LYBN) Q3 2026 Earnings Report
MX:LYBN Q3 2026 EPS Results
- Actual EPS
- MXN 47.72
- Consensus EPS
- MXN 48.34
- Beat/Miss
- Missed by -MXN 0.62
- One Year Ago EPS
- MXN 18.97
MX:LYBN Q3 2026 Revenue Results
- Actual Revenue
- MXN 159.89B
- Expected Revenue
- MXN 166.72B
- Beat/Miss
- Missed by -MXN 6.83B
- YoY Revenue Growth
- +10.15%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/30/2026
- Time
- Before Open
- Conference Call
- Friday, October 30, 2026
LyondellBasell's next earnings date is estimated for January 29, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was broadly positive, supported by strong third-quarter EBITDA margins, record I&D performance, substantial free cash flow, improved liquidity, safety results, portfolio simplification and progress on cost and cash initiatives. However, management highlighted persistent geopolitical uncertainty, weaker European and Asian markets, soft automotive and housing demand, sequential declines in several segments, rising feedstock costs and expected moderation from exceptional third-quarter results.
LyondellBasell expects the Houston refinery site transaction to close by the end of 2026, with the sale improving cash flow by approximately $50 million to $100 million annually; it continues to make progress on its $500 million cash improvement plan goal and expects to be at the upper end of its prior guidance for effective tax rate for the full year 2026. Fourth quarter O&P Americas operating rates are projected to be approximately 85% of nameplate capacity, O&P-EAI operating rates are targeted at approximately 60% versus approximate 65% in the third quarter, and I&D operating rates are targeted at approximately 75% versus approximately 85% in the third quarter; I&D profitability is expected to moderate following the exceptional third quarter, while the fourth quarter outlook remains historically strong. APS expects automotive production to moderate towards year-end, the fourth quarter to be the seasonally weakest period, and a meaningful improvement in full year EBITDA compared to 2025; Technology EBITDA is expected to remain flat sequentially. North America polyethylene demand is expected to remain resilient, Europe presents a more challenged outlook, Asia is expected to remain weak but relatively stable, and China polyethylene imports should be considered in the 750 to 1 million kind of range for 2027.
- Strong EBITDA Margins and Free Cash FlowLyondellBasell delivered 18% EBITDA margins in the third quarter, $1.4 billion in free cash flow representing 100% of EBITDA, and a $600 million increase in cash after repaying a EUR 500 million bond.
- Improved Earnings and LiquidityThird-quarter earnings were $2.54 per diluted share with EBITDA of $1.5 billion. Cash increased to $3.2 billion and available liquidity increased to $7.7 billion.
- Strong Cash Conversion and Operating Cash FlowThird-quarter cash from operating activities was approximately $1.7 billion. Cash conversion over the past 12 months was approximately 84%, exceeding the company's long-term target.
- Disciplined Capital Allocation and Balance Sheet ActionsThe company invested $303 million in capital expenditures, returned $224 million to shareholders through dividends, repaid a EUR 500 million note, and continued prioritizing an investment-grade balance sheet and disciplined capital deployment.
- Progress on Cash Improvement and Cost ReductionLyondellBasell continued progressing toward its $500 million cash improvement plan, driven primarily by lower capital expenditures and fixed-cost reductions. Its workforce is approximately 18% smaller than at the beginning of last year, and the company said its fixed-cost run rate is about 10% lower than in previous years.
- Houston Refinery Site Sale Supports Portfolio SimplificationLyondellBasell agreed to sell the former Houston refinery site and associated assets to Valero for $320.5 million in cash, with closing expected by the end of 2026 subject to regulatory approvals and customary conditions. The transaction is expected to improve cash flow by approximately $50 million to $100 million annually, while Valero assumes ongoing site operations, environmental liabilities, pension costs and related employee obligations.
- Record Intermediates and Derivatives PerformanceIntermediates and Derivatives third-quarter EBITDA more than doubled sequentially to a record $795 million. Higher oxyfuels margins and the restart of Bayport PO/TBA operations offset weaker polymer margins, while margins in PO&D, methanol and acetyls remained well above pre-conflict levels.
- Strong Oxyfuels Market and Operational ExecutionOxyfuels margins benefited from tighter gasoline supply, higher crack spreads and favorable gasoline pool economics, which improved octane values in both Europe and the U.S. The safe Bayport restart restored meaningful TBA and PO capacity, and increased oxygen feed at Channelview enabled PO/TBA production above nameplate capacity.
- Operational Improvements Creating Additional ValueThe Clinton turnaround was completed on time and below budget. At Morris, a new operating mode increased high-density polyethylene production with minimal capital investment. Management also cited approximately $65 million of annualized value from the Channelview PO/TBA improvement and $20 million of value from Morris.
- Resilient North American Polyethylene and Polypropylene DemandNorth American polyethylene and polypropylene domestic sales volumes increased approximately 6% and 5% year-on-year, respectively. U.S. domestic polyethylene prices rose $0.05 per pound in September, year-to-date prices were up $0.25 per pound, and polyethylene export prices were up $0.10 to $0.12 per pound versus July lows.
- Healthy Polyethylene Sales and Lean InventoriesGlobal inventories remained below pre-conflict levels, while customers across the value chain operated with very lean inventories. LyondellBasell's September polyethylene sales increased 7% month-on-month and 12% versus September 2025, and October sales were expected to meet or beat September.
- Safety Performance Remains StrongThe year-to-date total recordable incident rate was 0.12, which management said remains among the best in the sector and reflects some of the best safety performance in the company's corporate history.
- Advanced Polymer Solutions TransformationManagement said APS is becoming more customer-focused and operating at a substantially lower cost. APS EBITDA growth was over 50% last year and over 30% year-to-date this year, and the company expects meaningful full-year EBITDA improvement compared with 2025 despite challenging automotive and durable-goods markets.
- Demand Opportunities in Infrastructure, Data Centers and ElectrificationInfrastructure and data-center investment is supporting demand for pipe, conduit, wire and cable. APS also cited strong demand for electrical components, while electric vehicles require more complex formulations and compounds and provide opportunities for increased plastics participation.
- Continued Investment in CircularityLyondellBasell said it remains committed to circular and low-carbon opportunities and continues to advance its investment in MoReTec-1 in Europe, where management cited stronger regulatory support for circularity.
- Constructive North American and Fuels OutlookManagement expects polyethylene demand in North America to remain resilient across domestic and export markets. Fuels fundamentals are expected to remain strong, with tight supply, robust octane demand and global product-market constraints supporting fourth-quarter margins above typical seasonal levels.
- Diversified Portfolio Provides Multiple Earnings DriversThe company said its diversified portfolio across consumables, durables, infrastructure and fuels reduces reliance on any single market or economic cycle. Stable consumables demand, health-care growth, infrastructure investment and strong oxyfuels margins are providing earnings support while some durable markets remain challenged.
MX:LYBN Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Jan 29, 2027 | 2026 (Q4) | 33.78- | -4.88 | ― | ― |
| Oct 30, 2026 | 2026 (Q3) | 48.3447.72 | 18.97 | 151.49% (+28.74) | |
| Jul 31, 2026 | 2026 (Q2) | 64.5580.78 | 11.65 | 593.55% (+69.13) | |
| May 01, 2026 | 2026 (Q1) | 5.289.21 | 6.2 | 48.48% (+3.01) | |
| Jan 30, 2026 | 2025 (Q4) | 2.09-4.88 | 14.09 | -134.67% (-18.97) | |
| Oct 31, 2025 | 2025 (Q3) | 15.2418.97 | 35.32 | -46.28% (-16.34) | |
| Aug 01, 2025 | 2025 (Q2) | 15.1211.65 | 42.08 | -72.32% (-30.43) | |
| Apr 25, 2025 | 2025 (Q1) | 7.816.20 | 28.74 | -78.43% (-22.54) | |
| Jan 31, 2025 | 2024 (Q4) | 13.5414.09 | 23.67 | -40.48% (-9.58) | |
| Nov 01, 2024 | 2024 (Q3) | 37.1635.32 | 46.21 | -23.58% (-10.90) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.