This story was originally published on Waste Dive. To receive daily news and insights, subscribe to our free daily Waste Dive newsletter. Dive Brief: Norway-based Agilyx announced it has agreed to a memorandum of understanding with ExxonMobil and LyondellBasell, its joint venture partners in plastics recycling company Cyclyx International, to split up ownership of two planned circularity centers in Texas. The news comes a few days after Agilyx said it would restructure its U.S.-based chemical recycling ...

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2025 was a year to forget for chemical giants Dow (NYSE: DOW) and LyondellBasell Industries (NYSE: LYB). Both stocks plummeted to multiyear lows. Coincidentally, they both fell by exactly 41.7%. 2026 is already looking a lot better for materials sector investors. Materials and energy are the best-performing stock market sectors in 2026. And Dow and LyondellBasell are both up over 15% year to date at the time of this writing. Where to invest $1,000 right now? Our analyst team just revealed what they belie ...

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Peter Vanacker: Thank you, Dave, and welcome to all of you. We appreciate you joining us today as we discuss our first quarter results. These are challenging and volatile times, but I am proud that our team continues to navigate extremely well. Let's begin with Slide 3, where we highlight continued leadership in safety performance, LYB. Our operational success starts with our core focus on safety. Our goal zero commitment is to operate with zero incidents through ownership, excellence and teamwork. This is ...

Peter Z. E. Vanacker: Thank you, Dave, and welcome to all of you. We appreciate you joining us today as we discuss our second quarter results. Let's begin with Slide 3, where we highlight our continued leadership in safety performance at LYB. Our operational success starts with our core focus on safety. This is demonstrated by our June year-to-date top decile total recordable incident rate of 0.12, and we're proud of our improving safety record. Having maintained this track record during one of our largest ...

Financial Data and Key Metrics Changes - In 2025, LyondellBasell generated $2.3 billion of cash from operations, reflecting strong working capital discipline and focused cost management [14][19] - Full-year earnings were $1.70 per diluted share, and EBITDA totaled $2.5 billion [14] - The company achieved a cash conversion ratio of 95%, well above the long-term target of 80% [20] Business Line Data and Key Metrics Changes - The Olefins and Polyolefins Americas segment reported Q4 EBITDA of $164 million, down from the prior quarter due to higher feedstock costs and lower polyethylene margins [24] - The Olefins and Polyolefins Europe, Asia, and International segment experienced a Q4 EBITDA loss of $61 million, impacted by lower demand and increased competition from low-cost imports [26] - The Intermediates and Derivatives segment achieved Q4 EBITDA of $205 million, supported by improved propylene glycol demand [28] - The Advanced Polymer Solutions segment reported Q4 EBITDA of $38 million, with a year-over-year increase of 55% in EBITDA [31] Market Data and Key Metrics Changes - Industry margins in 2025 were approximately 45% below historical averages, with North American polyolefins margins at their lowest levels in over a decade [12] - The company noted that global trade disruptions and low demand for durable goods were significant factors pressuring margins [12] Company Strategy and Development Direction - LyondellBasell is executing a three-pillar strategy focused on growing and upgrading the core, building a profitable circular and low-carbon solutions business, and stepping up performance and culture [9][10] - The company is on track to complete the divestment of four European assets by Q2 2026, which is part of its portfolio transformation efforts [9][27] - The Value Enhancement Program exceeded its target, achieving $1.1 billion of recurring annual EBITDA in 2025, with a goal of $1.5 billion by 2028 [10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging market conditions in 2025 but expressed confidence in the company's ability to generate positive free cash flow and capture significant upside once margins normalize [12][13] - The company expects modest improvements in market conditions as it moves into 2026, with seasonal demand recovery anticipated in North America and Europe [33][34] Other Important Information - The company reduced its capital expenditure plans for circular solutions and prioritized markets with supportive regulations [11] - LyondellBasell returned $2 billion to shareholders through dividends and share repurchases during 2025 [20] Q&A Session Summary Question: Dividend strategy in light of market conditions - Management emphasized the importance of maintaining an investment-grade balance sheet and balancing cash returns to shareholders with growth investments, indicating that discussions on dividend recalibration are ongoing [40][42] Question: CapEx guidance for 2026 - Management clarified that the reduced CapEx guidance for 2026 is due to postponed turnarounds and a lighter maintenance schedule, with $800 million allocated for maintenance and $400 million for growth projects [44][46] Question: Outlook for the oxyfuels market - Management expects normalization in the oxyfuels market following a volatile 2025, with typical seasonal improvements anticipated [61][62] Question: Polypropylene market assessment - Management indicated that polypropylene is currently weaker than polyethylene due to its higher exposure to durable goods, but recovery is expected as consumer confidence improves [66][68] Question: US Gulf Coast polyethylene market - Management noted low industry inventories and anticipated price increases supported by upstream cost dynamics, indicating a positive outlook for contract pricing [74][77] Question: Anti-involution policies in China - Management reported ongoing discussions regarding anti-involution policies in China, with expectations for potential announcements in the near future [80]

Financial Data and Key Metrics Changes - In 2025, LyondellBasell generated $2.3 billion of cash from operations, reflecting strong working capital discipline and focused cost management [14][19] - Full-year earnings were $1.70 per diluted share, and EBITDA totaled $2.5 billion [14] - The company achieved a cash conversion ratio of 95%, well above the long-term target of 80% [20] Business Line Data and Key Metrics Changes - The Olefins and Polyolefins Americas segment reported fourth quarter EBITDA of $164 million, down from the prior quarter due to higher feedstock costs and lower polyethylene margins [24] - The Olefins and Polyolefins Europe, Asia, and International segment experienced a fourth quarter EBITDA loss of $61 million, impacted by lower demand and increased competition from low-cost imports [26] - The Intermediates and Derivatives segment achieved fourth quarter EBITDA of $205 million, supported by improved propylene glycol demand [29] - The Advanced Polymer Solutions segment delivered fourth quarter EBITDA of $38 million, reflecting a 55% year-over-year increase due to operational improvements [32] Market Data and Key Metrics Changes - Industry margins in 2025 were approximately 45% below historical averages, with North American polyolefins margins at their lowest levels in over a decade [12] - The company noted that global trade disruptions and low demand for durable goods were significant factors pressuring margins [12] - In Europe, polyolefin markets faced soft demand driven by increased competition and ongoing destocking [26] Company Strategy and Development Direction - LyondellBasell is executing a three-pillar strategy focused on growing and upgrading the core, building a profitable circular and low-carbon solutions business, and stepping up performance and culture [9][10] - The company is advancing its portfolio transformation with the divestment of four European assets, expected to complete in Q2 2026 [9][28] - The Value Enhancement Program exceeded its original target, achieving $1.1 billion of recurring annual EBITDA in 2025, with a goal of $1.5 billion by 2028 [10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging market conditions in 2025 but expressed confidence in the company's ability to generate positive free cash flow and capture significant upside once margins normalize [12][13] - The company plans to maintain strong capital discipline and focus on safe and reliable operations while pursuing selective investments in high-value growth [15][19] - Management expects modest improvements in market conditions as they move through 2026, with a focus on execution and cost discipline [35][36] Other Important Information - The company reduced its global workforce by 7%, or approximately 1,350 employees, to the lowest levels since 2018 [16] - LyondellBasell ended 2025 with $3.4 billion of cash and short-term investments, and $8.1 billion of available liquidity [19] Q&A Session Summary Question: Regarding dividend strategy and growth investments - Management highlighted the importance of maintaining an investment-grade balance sheet while balancing cash returns to shareholders and growth investments, with ongoing discussions on capital allocation strategy [39][43] Question: Clarification on CapEx guidance for 2026 - Management confirmed a CapEx guidance of approximately $1.2 billion for 2026, with $800 million allocated for maintenance and $400 million for growth projects, reflecting a light year in terms of turnarounds [46][49] Question: Outlook on the oxyfuels market for 2026 - Management expects the oxyfuels market to normalize following a volatile 2025, with typical seasonal improvements anticipated [62] Question: Assessment of the polypropylene market - Management indicated that polypropylene is currently weaker than polyethylene due to higher exposure to durable goods, with expectations for recovery dependent on consumer confidence [66][70] Question: Update on the US Gulf Coast polyethylene market - Management noted low industry inventories and anticipated price increases supported by robust demand, with expectations for improved integrated margins [78][80] Question: Insights on China's anti-involution policies - Management mentioned ongoing discussions regarding China's policies, with expectations for potential announcements in the near future [81]

LyondellBasell Industries (NYSE:LYB) Q4 2025 Earnings call January 30, 2026 11:00 AM ET Speaker14Hello, and welcome to the LyondellBasell teleconference. At the request of LyondellBasell, this conference is being recorded for instant replay purposes. Following today's presentation, we will conduct a question-and-answer session. I would now like to turn the call over to Mr. David Kinney, Head of Investor Relations. Sir, you may begin.Speaker5Thank you, operator. Before we begin the discussion, I would like t ...

Fourth Quarter 2025 Earnings January 30, 2026 Cautionary statement The statements in this presentation relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management of LyondellBasell which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. When used in this presentation, the words "believe," "could," "intend," "may," "should," "will," "expect," and similar express ...