LYB earnings analysis
What we found in LYB's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
LyondellBasell's Q1 2026 report shows a return to profitability with a net income of $125 million, or EPS of $0.38, exceeding estimates. Revenue declined 6% year-over-year to $7.197 billion attributed to lower prices, though segments like O&P-Americas experienced improved margins. Management projects a positive outlook for Q2 2026, expecting better market conditions across multiple business segments.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Return to Profitability
- Net income of $125 million or EPS of $0.38, a significant turnaround from previous quarters.
- Revenue Performance
- Revenue of $7.197 billion, while 6% lower from last year, increased 1% sequentially.
- Improved Operating Margin
- Operating income soared by 372% quarter-over-quarter to $239 million.
- Cash Flow Improvements
- Operating cash flow improved to a $269 million outflow from a $579 million outflow year-over-year.
- Segment Growth in O&P-Americas
- O&P-Americas revenue rose 4% to $2.437 billion quarter-over-quarter.
- Positive Q2 Outlook
- Management anticipates significant improvement in market conditions in Q2 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Ongoing Geopolitical Tensions
- Geopolitical instability continues to pose risks for supply chains and prices.
- Cash Flow Concerns
- Operating cash flow remains negative at -$269 million, reflecting operational challenges.
- Segment Performance Variability
- Lower volumes in the O&P-EAI and Technology segments demonstrate vulnerability to market conditions.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.38
- Operating margin
- 3.32%
- Segment
- O&P-Americas: $2.437B
- Segment
- O&P-EAI: $2.501B
- Segment
- I&D: $2.060B
- Segment
- APS: $876M
- Segment
- Technology: $106M
What they said about what is next.
Management expects significant improvement in market conditions across all segments in Q2 2026.
The filing reads better than the one before it.
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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