The company said it used $114 million of cash for operating activities in Q1 2024, invested $483 million in capital expenditures and paid $408 million in dividends. It attributed the cash use in operating activities to higher working capital, driven mainly by higher volumes and prices in most segments.

1. 01

   The company said it used $114 million of cash for operating activities in Q1 2024, invested $483 million in capital expenditures and paid $408 million in dividends. It attributed the cash use in operating activities to higher working capital, driven mainly by higher volumes and prices in most segments.

2. 02

   LyondellBasell said revenues in Q1 2024 decreased $322 million, or 3%, compared with Q1 2023. It cited lower average sales prices, which reduced revenues by 7%, and higher volumes, which increased them by 3%. Favorable foreign exchange impacts increased revenues by 1%, and operating income was relatively unchanged.

3. 03

   The company said EBITDA for its Intermediates & Derivatives (I&D) segment increased $239 million, or 327%, compared with Q4 2023. It said that in Q4 2023 it recognized a non-cash impairment charge of $192 million related to its equity investment in the European PO joint venture and LIFO inventory valuation charges of $97 million, and that similar charges were not recognized in Q1 2024.

4. 04

   The company reported cash and cash equivalents of $2,314 million as of March 31, 2024 and total debt, including current maturities of long-term debt, of $11,194 million. It did not repurchase any shares in Q1 2024 and said that as of April 24, 2024 approximately 33.1 million shares remained under its repurchase authorization.

Key figures

Quarter ended March 31, 2024

Revenue

$9.9B

Operating income

$704M

Net income

$473M

EPS

$1.44

Operating cash flow

−$114M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.