- LyondellBasell (NYSE:LYB) -3.2% pre-market after posting sharp misses on Q4 earnings and revenues, which fell 8% Y/Y to $8.18B, as margins within most of its businesses were hurt by slow industrial demand and typical seasonality.
- Q4 EBITDA fell to $1.17B from $1.51B in Q3, although the company said its Technology segment achieved record quarterly and annual EBITDA of $138M and $411M, respectively.
- Q4 EBITDA in the Olefins & Polyolefins - Americas segment fell 21% Y/Y to $498M amid broad declines in margins, particularly in polyethylene with a spread decrease over ethylene of more than $130/ton.
- Intermediates & Derivatives EBITDA fell 13% Y/Y to $329M, driven by lower margins due to sales mix.
- Capital spending totaled $731M for Q4 and $2.7B for the full year.
- "We anticipate typical seasonal improvements for our businesses as we progress through" Q2 and Q3, the company said.
Recommended For You
More Trending News
See More »