Q2 26 EPS
$4.30
BEAT +25.41%
Est. $3.43
Q2 26 Revenue
$9.18B
MISS 1.17%
Est. $9.29B
vs S&P Since Q2 26
-1.1%
TRAILING MARKET
LYB +2.8% vs S&P +3.8%
Market Reaction
Did LYB Beat Earnings? Q2 2026 Results
LyondellBasell Industries delivered a standout second quarter in 2026, posting adjusted diluted EPS of $4.30 against a consensus estimate of $3.43, a 25.41% beat that reflected a sharp reversal from the year-ago quarter's $0.62. The primary catalyst … Read more LyondellBasell Industries delivered a standout second quarter in 2026, posting adjusted diluted EPS of $4.30 against a consensus estimate of $3.43, a 25.41% beat that reflected a sharp reversal from the year-ago quarter's $0.62. The primary catalyst was geopolitical disruption in the Middle East, which tightened petrochemical supply chains and drove polymer margins, co-product pricing, and oxyfuels spreads sharply higher, lifting EBITDA excluding identified items to $2.13 billion, nearly triple Q2 2025's $715.00 million. The Americas olefins and polyolefins segment led the charge, generating $1.27 billion in segment EBITDA as North American crackers ran at approximately 95% capacity. Revenue of $9.18 billion came in slightly below the $9.29 billion consensus estimate, a 1.17% miss. GAAP net income of $559.00 million was weighed down by an $842.00 million after-tax charge, largely tied to a completed European asset divestiture. Management expects the Middle East supply disruption to extend into 2027, with Q3 North American O&P operating rates guided at approximately 85%.
Key Takeaways
- • Supply-constrained market conditions across all business segments driven by Middle East conflict
- • Expanding polymer margins and favorable co-product pricing in O&P-Americas
- • North American assets operated at approximately 90% utilization (ethylene crackers at ~95%)
- • Improved polymer spreads in O&P-EAI driven by supply chain disruptions and stronger joint venture contributions
- • Higher oxyfuels, methanol, and PO derivatives margins in I&D
- • Higher average sales prices in APS due to industry supply constraints
- • Higher catalyst demand and licensing milestone completions in Technology segment
- • Gain on sale of European emission credits of approximately $50 million
LYB Forward Guidance & Outlook
Middle East conditions remain fluid and are expected to continue as a source of volatility for energy and petrochemical value chains. The pace and timing at which conflict-impacted supply will return to the market remains uncertain, with the recovery period likely extending into 2027. While LYB does not anticipate material demand deterioration in key end markets, near-term price uncertainty could temporarily impact normal buying patterns. The Bayport PO/TBA restart should provide volume uplift in I&D, while planned Clinton facility downtime will impact polyolefins volumes in H2 2026. Q3 operating rate guidance: ~85% for North American O&P, ~70% for European O&P, and ~85% for I&D. Capital allocation priorities include scheduled note maturity repayment in September, maintaining the dividend, and disciplined deleveraging. The company remains on target to deliver $500 million in incremental cash through its Cash Improvement Plan by year-end 2026.
LYB YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
“In a dynamic macroeconomic environment, we delivered exceptional results through deliberate commercial actions, the strength of our advantaged portfolio and improved market conditions supporting margin expansion.”
— Peter Vanacker, Q2 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
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $3.43 | $4.30 | +25.41% | $9.18B | -1.17% |
| 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% |