LyondellBasell: Revenue and profit up significantly in the second quarter of 2026

Portrait photograph of Peter Vanacker

The US plastics group has recorded a significant jump in profit in the second quarter of 2026.


According to a statement from the group, results for the second quarter of 2026 improved significantly. According to the figures, LyondellBasell (LYB) posted a substantial improvement in almost all key performance indicators compared with the same quarter last year. Revenue rose by 20 per cent from US$7.66 billion to US$9.18 billion, whilst net profit increased almost fivefold from US$115 million to US$559 million. Peter Vanacker, CEO of LYB, explained that the main drivers behind the strong results were global supply shortages and higher selling prices resulting from geopolitical instability, particularly the conflict in the Middle East. Persistent supply chain disruptions and damage to production facilities in the Middle East had led to a global supply shortage, which drove up polymer and plastics prices. This had particularly benefited the lower-cost production sites in North America, which LyondellBasell was able to operate at a high capacity utilisation rate of around 90 per cent. Added to this were the Group’s measures to improve liquidity. The company has maintained its investment plan for 2026, totalling US$1.2 billion, is aiming for additional cash flow of US$500 million by the end of 2026, and is continuing to optimise its portfolio and reduce costs through lower fixed costs and reduced capital expenditure.
 
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