LyondellBasell Q1 net income $1.3B, EBITDA $2.0B; plans to exit refining by end 2023

LyondellBasell Industries N.V.

2022-Q1 EPS reported $4.00 revenue$13,157,000,000

Net income of $1.3B, diluted EPS $4.00; EBITDA of $2.0B (strongest Q1 since 2015).
Cash from operations $1.5B; returned $0.6B to shareholders via dividends and buybacks.
Intermediates & Derivatives segment had record first quarter EBITDA.
Announced plans to exit refining business by end of 2023.
CEO succession: Peter Vanacker to join as CEO on May 23, replacing interim CEO Ken Lane.

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