Environmental and Sustainability Goals - In 2023, the company incurred capital expenditures of $256 million for health, safety, and environmental compliance, with estimates of $246 million in 2024 and $288 million in 2025[90]. - The company aims to produce and market at least two million metric tons of recycled and renewable-based polymers annually by 2030, representing approximately 20% of its 2023 global sales of polyethylene and polypropylene[92]. - The company plans to reduce scope 1 and 2 greenhouse gas emissions by 42% by 2030 and scope 3 emissions by 30% relative to a 2020 baseline[95]. - The Wesseling site in Germany is expected to reduce scope 1 emissions by 150 thousand metric tons annually through process heat recovery and electrification projects starting in 2024[96]. - The company has executed power purchase agreements that will generate an estimated 3.7 million megawatt hours of renewable electricity annually, reducing scope 2 emissions by more than 1.3 million metric tons of carbon emissions[97]. - Closing the Houston refinery by the end of Q1 2025 is expected to reduce scope 1 and 2 GHG emissions by over 3 million metric tons annually and scope 3 emissions by approximately 40 million metric tons annually[98]. - The company aims to secure at least 50% of its global electricity from renewable sources by 2030, achieving almost 90% of this target as of December 2023[97]. - The company plans to allocate approximately 20% of its total capital expenditures over the next two years to support sustainability goals[102]. Financial Performance - For the year ended December 31, 2023, the company reported sales and other operating revenues of $41,107 million, a decrease of 18.5% compared to $50,451 million in 2022[387]. - The operating income for 2023 was $3,053 million, down 40.0% from $5,101 million in 2022[387]. - The net income attributable to the company shareholders for 2023 was $2,114 million, a decline of 45.5% from $3,882 million in 2022[387]. - The comprehensive income attributable to the company shareholders for 2023 was $2,010 million, a decrease of 53.5% from $4,313 million in 2022[389]. - Net income for 2023 was $2,121 million, a decrease of 45.5% from $3,889 million in 2022[398]. - Net cash provided by operating activities decreased to $4,942 million in 2023 from $6,119 million in 2022, reflecting a decline of 18.8%[398]. - Cash flows used in investing activities were $1,777 million in 2023, compared to $1,977 million in 2022, a decrease of 10.1%[401]. - Dividends paid on common stock in 2023 amounted to $1,610 million, down from $3,246 million in 2022, a reduction of 50.5%[401]. - The company repurchased $211 million of ordinary shares in 2023, compared to $420 million in 2022, a decrease of 49.8%[401]. Assets and Liabilities - Total current assets increased to $13,152 million in 2023, compared to $11,845 million in 2022, reflecting a growth of 11.0%[392]. - The total assets of the company reached $37,000 million as of December 31, 2023, up from $36,365 million in 2022, indicating a growth of 1.8%[392]. - The company’s long-term debt decreased slightly to $10,333 million in 2023 from $10,540 million in 2022[394]. - The company’s cash and cash equivalents increased significantly to $3,390 million in 2023, compared to $2,151 million in 2022, representing a growth of 57.5%[392]. - The company reported contract liabilities of $175 million as of December 31, 2023, compared to $167 million in 2022[492]. - Total assets held for sale amounted to $444 million, while total liabilities held for sale were $120 million as of December 31, 2023[491]. Equity and Investments - The company reported an equity loss of $20 million in 2023, compared to an income of $5 million in 2022[398]. - The ending balance of equity investments decreased to $3,907 million in 2023 from $4,295 million in 2022, reflecting a loss from equity investments of $20 million[509]. - Capital contributions to PO Joint Ventures in 2023 were $54 million, compared to $108 million in 2022[509]. - A non-cash impairment charge of $192 million was recorded for the European PO joint venture in Q4 2023 due to negative financial performance[510]. Debt and Interest Management - As of December 31, 2023, the total notional amount of interest rate swaps was $2,171 million, effectively converting fixed-rate debt to variable-rate debt[357]. - Approximately 80% of the company's debt portfolio incurred interest at a fixed rate as of December 31, 2023[358]. - The company has available borrowing capacity under its $3,250 million Senior Revolving Credit Facility and $900 million U.S. Receivables Facility, with no outstanding borrowings as of December 31, 2023[359]. - The company employs interest rate swaps to manage interest rate risk, converting fixed-rate debt to floating-rate debt[460]. Operational Metrics - The product off-take of propylene oxide and its co-products from the PO Joint Ventures was 2.2 million tons in 2023, compared to 2.4 million tons in 2022 and 2.6 million tons in 2021[431]. - The product off-take of ethylene and polyethylene from the Louisiana Joint Venture was 1.2 million tons in 2023, up from 1.0 million tons in 2022 and 1.1 million tons in 2021[431]. Tax and Compliance - The company recorded an income tax provision of $501 million as of December 31, 2023, with unrecognized tax benefits amounting to $288 million[380]. - The company recognizes uncertain income tax positions when it is more likely than not that the position will be sustained upon examination[440]. Impairments and Charges - The company reported a non-cash goodwill impairment of $252 million in the Advanced Polymer Solutions segment in Q1 2023 due to the transfer of certain businesses[434]. - The carrying amount of goodwill as of December 31, 2023, was $1,647 million, net of accumulated impairment charges of $252 million[506]. - A non-cash goodwill impairment charge of $252 million was recognized in Q1 2023 in the Advanced Polymer Solutions segment[508]. Miscellaneous - The company has various sales facilities worldwide, with executive offices located in London, Rotterdam, Houston, and Hong Kong[123]. - The company’s Asia-Pacific headquarters are located in Hong Kong, with technical support centers in multiple countries[123].

HOUSTON and LONDON, Feb. 19, 2024 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today announced changes to its executive committee, effective March 1, 2024. Kimberly (Kim) Foley will assume the role of executive vice president, Global Olefins & Polyolefins (O&P), Refining and Supply Chain, and Aaron Ledet has been promoted to the role of executive vice president, Intermediates and Derivatives (I&D). Ledet will join the company's executive committee. These changes follow the departure of Ken Lane, former execut ...

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by i ...

LyondellBasell Industries N.V. (LYB) recorded fourth-quarter 2023 profit of $185 million or 56 cents per share, reflecting a fall of roughly 48% from the year-ago quarter's $353 million or $1.07 per share.LYB posted adjusted earnings of $1.26 per share, down from the year-ago quarter figure of $1.29. It missed the Zacks Consensus Estimate of $1.29.The company’s net sales in the fourth quarter were $9,929 million, which lagged the Zacks Consensus Estimate of $10,384.4 million. Net sales decreased around 2.7% ...

LyondellBasell (LYB) reported $9.93 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 2.7%. EPS of $1.26 for the same period compares to $1.29 a year ago.The reported revenue represents a surprise of -4.39% over the Zacks Consensus Estimate of $10.38 billion. With the consensus EPS estimate being $1.29, the EPS surprise was -2.33%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determi ...

LyondellBasell (LYB) came out with quarterly earnings of $1.26 per share, missing the Zacks Consensus Estimate of $1.29 per share. This compares to earnings of $1.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -2.33%. A quarter ago, it was expected that this oil refiner and chemical company would post earnings of $1.98 per share when it actually produced earnings of $2.46, delivering a surprise of 24.24%.Over the last four ...

HOUSTON and LONDON, Feb. 2, 2024 /PRNewswire/ -- Fourth Quarter 2023 Highlights  Net Income: $185 million, $411 million excluding identified items(a) Diluted earnings per share: $0.56 per share, $1.26 per share excluding identified items EBITDA: $639 million, $910 million excluding identified items Generated $1.5 billion of cash from operating activities resulting in 171% cash conversion(b) Returned $406 million in dividends to shareholders Took final investment decision to build first commercial-scale cat ...

LyondellBasell Industries N.V. (LYB) and MSI Technology, LLC announced an agreement wherein MSI Technology will serve the LyondellBasell Polybutene-1 (PB-1) resin line in consumer packaging applications in North America. MSI Technology is also the sales representative for LyondellBasell's Plexar product range.The collaboration is a strategic fit for MSI Technology's current markets. It will employ its technical sales approach, paired with its present specialty product portfolio, to expand its consumer packa ...

HOUSTON, Jan. 30, 2024 /PRNewswire/ -- LyondellBasell (NYSE: LYB) and MSI Technology, LLC announced today they have entered into an agreement for MSI Technology to serve the LyondellBasell Polybutene-1 (PB-1) resin line into consumer packaging applications for North America. MSI Technology is also the sales representative for the LyondellBasell Plexar product line. The expansion of the relationship is a strategic fit relative to the markets MSI Technology serves today. MSI Technology will use its technical ...

Wall Street analysts expect LyondellBasell (LYB) to post quarterly earnings of $1.29 per share in its upcoming report, which indicates no change from the year-ago quarter. Revenues are expected to be $10.38 billion, up 1.8% from the year-ago quarter.Over the last 30 days, there has been a downward revision of 0.5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this tim ...