LyondellBasell Q1 Report 2024

LyondellBasell Industries (NYSE: LYB) today announced net income for the first quarter 2024 of $473 million, or $1.44 per diluted share. During the quarter, the company recognized identified items of $28 million, net of tax. These items, which impacted first-quarter earnings by $0.09 per share, were related to costs incurred from plans to exit the refining business. First quarter 2024 EBITDA was $1.0 billion, or $1.1 billion excluding identified items. 

Highlights

• Net Income: $473 million, $501 million excluding identified items(a)
• Diluted earnings per share: $1.44 per share; $1.53 per share excluding identified items
• EBITDA: $1.0 billion, $1.1 billion excluding identified items
• Cash used by operating activities: $114 million
• Cash provided by operating activities of $4.3 billion over last 12 months resulting in 93% cash conversion(b)
• Returned $408 million in dividends to shareholders