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LyondellBasell Reports Mixed Q1 Performance Amid Global Market Shifts, Hopes On Seasonal Demand Improvements

LyondellBasell Industries N.V. (NYSE:LYB) reported first-quarter fiscal 2024 revenues of $9.925 billion, down from $10.25 billion a year ago, beating the consensus of $9.73 billion. Adjusted EBITDA stood at $1.06 billion (-26.8% Y/Y), and the margin contracted by 346 bps to 10.7%. Adjusted EPS stood at $1.53, down from $2.50 a year ago, beating the consensus of $1.37. The company mentioned that lower natural gas costs in North America boosted olefins and polyolefins margins, with improved polyethylene demand, ...