Q1 26 EPS
$0.49
BEAT +76.13%
Est. $0.28
Q1 26 Revenue
$7.20B
MISS 2.39%
Est. $7.37B
Did LYB Beat Earnings? Q1 2026 Results
LyondellBasell Industries staged a sharp earnings recovery in Q1 2026, posting adjusted EPS of $0.49 and beating the $0.28 consensus estimate by 76.13%, even as revenue of $7.20 billion came in slightly below the $7.37 billion analysts had expected. … Read more LyondellBasell Industries staged a sharp earnings recovery in Q1 2026, posting adjusted EPS of $0.49 and beating the $0.28 consensus estimate by 76.13%, even as revenue of $7.20 billion came in slightly below the $7.37 billion analysts had expected. The petrochemical giant swung back to adjusted net income of $163 million from an adjusted loss of $79 million in Q4 2025, with the turnaround powered primarily by a doubling of O&P-Americas EBITDA to $327 million, as lower feedstock costs and rising polyethylene prices, partly fueled by Middle East war-related supply disruptions tightening global petrochemical markets, drove maximum cracker utilization rates. The company also completed the sale of four European assets, advancing its portfolio shift toward cost-advantaged production. Those catalysts for LYB's recovery are expected to carry into Q2 2026, with management guiding for significant sequential improvement across most businesses as supply dislocations and favorable pricing dynamics continue to benefit North American and European operations.
Key Takeaways
- • Middle East war steepening global petrochemical cost curve and tightening supply
- • O&P-Americas EBITDA doubled sequentially driven by lower feedstock costs and accelerating polyethylene prices
- • Ethylene crackers operated at maximum rates with ~75% ethane and 25% other NGL feedstock in Americas
- • Tightening market conditions supported higher polyethylene prices in domestic and export markets
- • European polyolefin pricing power from feedstock and supply chain disruptions
- • I&D propylene oxide and derivatives margins strengthened with improved pricing and increased demand
- • Technology segment EBITDA declined sharply as fewer licensing contracts reached revenue milestones
- • Winter storm Fern negatively impacted start of the year in Americas
LYB Forward Guidance & Outlook
In Q2 2026, market conditions are expected to support significant sequential improvement across almost all businesses, reflecting tighter supply dynamics and favorable pricing trends from Middle East disruptions. In North America, further margin expansion is anticipated driven by increased export demand and crude-linked pricing dynamics. In Europe, completion of the European asset sale should improve average margins while reducing costs; reduced exports from the Middle East and Asia to Europe are expected to increase polymer spreads more than offsetting lower divestiture-related volumes. Oxyfuels margins should benefit from widening spreads but face lower volumes from Bayport PO/TBA downtime. Intermediate chemicals results are expected to improve with stronger methanol and acetyls margins. The company plans to maximize North American O&P rates, raise European O&P rates to 80%, and maintain I&D rates at 75%. Ongoing geopolitical uncertainty is expected to continue driving supply dislocations and price volatility.
LYB YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
“The global cost curve for petrochemicals has materially steepened with the onset of war in the Middle East and is unlikely to revert to pre-war conditions anytime soon. LYB is moving quickly and decisively to increase production to help fill the gap in global supply for our essential products and improve security of supply for our customers. We are leveraging the lowest delivered cost with advantaged assets in North America and passing through higher raw material costs in Europe to profitably serve local demand.”
— Peter Vanacker, Q1 2026 Earnings Press Release
LYB Earnings Trends
LYB vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LYB EPS Trend
Earnings per share: estimate vs actual
LYB Revenue Trend
Quarterly revenue: estimate vs actual
LYB Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.28 | $0.49 | +76.13% | $7.20B | -2.39% |
| Q4 25 MISS FY | $0.25 | $-0.26 | -204.97% | $7.09B | +4.05% |
| FY Full Year | $2.26 | $1.70 | -24.67% | $30.15B | +0.87% |
| Q3 25 BEAT | $0.80 | $1.01 | +25.86% | $7.73B | +4.59% |
| Q2 25 MISS | $0.78 | $0.62 | -20.84% | $7.66B | +1.99% |
| Q1 25 MISS | $0.43 | $0.33 | -24.02% | $7.68B | +3.56% |