Earnings Call
Jul 31, 2026
Q2 FY2026
EPS Estimate
3.44
EPS Actual
4.30
Post-Earnings Close
$62.08
Earnings Reaction
+2.7%
LyondellBasell's second quarter results were defined by an extraordinary external catalyst: the Middle East conflict, which disrupted roughly 20-25% of regional polyethylene supply, reshaped global trade flows, and created the conditions for the company's strongest quarterly performance in years. EBITDA reached $2.1 billion, more than tripling sequentially, with an EBITDA margin of 23% and EPS of $4.30 per diluted share. The O&P Americas segment was the standout, generating $1.3 billion of EBITDA, approximately four times the year-ago level, as polyethylene contract prices surged by a record $0.30 per pound in April. Crackers ran at approximately 95% utilization, and domestic polyethylene sales volumes hit their highest level since Q1 2022. Management was emphatic that these results were achieved without the full benefit of the portfolio, the Bayport PO/TBA asset suffered an unplanned outage that management estimates cost approximately $250 million of EBITDA in the quarter, and acetyls reliability issues at La Porte also weighed on I&D results.
Report generated on Aug 1, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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