LyondellBasell said it divested its U.S. Gulf Coast-based Ethylene Oxide & Derivatives (EO&D) business in May 2024 for $700 million and invested about $500 million to acquire a 35% stake in Saudi Arabia-based NATPET.

1. 01

   LyondellBasell said it divested its U.S. Gulf Coast-based Ethylene Oxide & Derivatives (EO&D) business in May 2024 for $700 million and invested about $500 million to acquire a 35% stake in Saudi Arabia-based NATPET.

2. 02

   The company said it completed the sale of the EO&D business and related production facilities in Bayport, Texas, in Q2 2024 and recognized a pre-tax gain of $293 million.

3. 03

   The company said operating income in Q2 2024 increased by $266 million, or 38%, from Q1 2024. In the same comparison, operating income in the I&D segment rose by $180 million and in the O&P-Americas segment by $163 million, while the Refining segment declined by $81 million.

4. 04

   The company said it generated $1,234 million in cash from operating activities in the first six months of 2024, invested $967 million in capital expenditures and returned $921 million to shareholders through dividends and share repurchases.

Key figures

Quarter ended June 30, 2024

Revenue

$10.6B

Operating income

$970M

Net income

$924M

EPS

$2.82

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

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