LyondellBasell Q3 2026 earnings: narrow miss amid soft pricing, but cash flow improves
LyondellBasell's Q3 2026 earnings and revenue came in slightly below estimates as product prices stayed soft, but cash generation and plant operations improved.
| Q3 2026 | Reported | Expected | Surprise |
|---|---|---|---|
| EPS | $2.54 | $2.59 | -2.1% |
| Revenue | $8.50B | $8.96B | -5.2% |
Key takeaways
- Adjusted earnings per share and revenue both came in just short of Wall Street estimates, continuing a soft patch for the chemicals maker as a weak pricing environment persists across much of its product lineup.
- Revenue fell about 7% from the prior quarter, which the company attributed mainly to lower average selling prices across many products as market conditions softened; higher sales volumes partly cushioned the decline.
- Results were mixed by business: the Olefins and Polyolefins Americas segment (plastics and their raw materials) saw profits slide on weaker polymer and olefin prices, while the Intermediates and Derivatives segment (fuel additives and related chemicals) improved on better oxyfuels margins and gasoline-related spreads.
- The trailing-twelve-month figures on the page — including a negative net profit margin and a low operating margin — reflect an extended industry downturn rather than this specific quarter alone; LyondellBasell actually turned a profit in Q3 2026 even though the rolling full-year picture still shows a loss, a sign the business may be stabilizing after a rough stretch.
- The quarter’s adjusted earnings per share were sharply higher than the same quarter a year earlier, an improvement management tied to better operating performance even as pricing stayed a headwind.
- Cash on hand rose by roughly $600 million during the quarter even after the company made a planned debt repayment of 500 million euros, pointing to solid cash generation despite the tougher pricing backdrop.
- LyondellBasell said it finished a major planned maintenance overhaul (a “turnaround”) at its Clinton, Iowa facility on schedule and under budget, and pointed to improved plant reliability as evidence of operational progress.
- Coverage noted that per-share results and revenue figures for the year-ago quarter (2025) are sometimes cited alongside 2026 figures in wire reports, which can be confusing when comparing year-over-year performance.
Fundamentals
| Metric | Value | Period |
|---|---|---|
| Gross margin | 12.8% | Trailing 12 months |
| Operating margin | 0.7% | Trailing 12 months |
| Net profit margin | -1.1% | Trailing 12 months |
| Pretax margin | -0.2% | Trailing 12 months |
| EPS | -$1.08 | Trailing 12 months |
| Revenue growth (YoY) | -11.3% | Trailing 12 months |
| EPS growth (YoY) | 384.6% | Latest quarter |
| Return on equity | -3.3% | Trailing 12 months |
Sources: company report · wire service coverage