LYB 8-K: LyondellBasell Q1 net income flat at $473M; adjusted EPS falls to $1.53 from $2.50

LyondellBasell Q1 net income flat at $473M; adjusted EPS falls to $1.53 from $2.50

LyondellBasell Industries N.V.

2024-Q1 EPS reported $1.44 revenue$9,925,000,000

Net income $473M ($1.44 diluted EPS) vs Q1 2023 $474M ($1.44); adjusted EPS $1.53 vs $2.50.

Sales $9.9B, down 3.1% YoY from $10.25B; EBITDA $1.0B ex-items $1.1B.

Cash used by operating activities $114M in Q1; trailing 12-month ops cash $4.3B (93% conversion).

Returned $408M to shareholders via dividends.

Refinery exit costs of $36M pre-tax in Q1; impairments zero vs $252M a year ago.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LyondellBasell Industries N.V. reported the quarter ended March 31, 2024 results: revenue $9,925, net income $473 million, EPS $1.44 per share.

Period: the quarter ended March 31, 2024
Revenue: $9,925
Net income: $473 million
EPS: $1.44 per share
Result: reported results

Exact text from the filing

NEWS RELEASE FOR IMMEDIATE RELEASE HOUSTON and LONDON, April 26, 2024 LyondellBasell Reports First Quarter 2024 Earnings First Quarter 2024 Highlights • Net Income: $473 million, $501 million excluding identified items (a) • Diluted earnings per share: $1.44 per share; $1.53 per share excluding identified items • EBITDA: $1.0 billion, $1.1 billion excluding identified items • Cash used by operating activities: $114 million • Cash provided by operating activities of $4.3 billion over last 12 months resulting in 93% cash conversion (b) • Returned $408 million in dividends to shareholders Comparisons with the prior quarter and first quarter 2023 are available in the following table: Table 1 - Earnings Summary Millions of U.S. dollars (except share data) Three Months Ended March 31, 2024 December 31, 2023 March 31, 2023 Sales and other operating revenues $9,925 $9,929 $10,247 Net income 473 185 474 Diluted earnings per share 1.44 0.56 1.44 Weighted average diluted share count 326 326 327 E

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