LyondellBasell Industries N.V. reported a third‑quarter 2025 net loss of $890 million, or $‑2.77 per diluted share, and an EBITDA of $(480) million. The loss contrasts with a $115 million net income in Q2 2025 and a $573 million net income in Q3 2024, underscoring a sharp reversal in profitability. Identified items of $1.2 billion—including asset write‑downs, transaction costs, and Cash Improvement Plan expenses—reduced earnings by $3.78 per share.
Operating cash flow for the quarter was $983 million, leaving the company with $1.8 billion in cash and cash equivalents and a liquidity position of $6.5 billion. Management confirmed that the Cash Improvement Plan remains on track to deliver a $600 million incremental cash‑flow target for 2025 and a minimum of $1.1 billion by the end of 2026, driven by working‑capital reductions, fixed‑cost savings, and capex optimization.
Segment performance varied across the business. The Olefins and Polyolefins Americas segment saw improved profitability from higher olefins margins and increased sales volumes following turnarounds at the Channelview, Texas facility. The European and Asian segments faced weaker demand and higher feedstock costs, while Intermediates & Derivatives and Advanced Polymer Solutions reported modest margin compression. Technology operations remained flat, reflecting ongoing investment in digitalization and process efficiency.
For the fourth quarter, the company projected operating rates of 80% for North American olefins and polyolefins, 60% for European O&P assets, and 75% for Intermediates & Derivatives. It also announced that the Wesseling, Germany cracker and the Channelview, Texas propylene oxide/styrene unit will be idled for maintenance in November, a move aimed at aligning production with demand and reducing working capital.
Strategically, LyondellBasell continues to pursue portfolio transformation, including the sale of non‑core European assets, to strengthen its balance sheet and focus on higher‑margin businesses. The company also advanced its sustainability agenda by constructing the MoReTec‑1 chemical recycling plant in Germany, positioning it as a leader in circular economy initiatives.
CEO Peter Vanacker highlighted that the Cash Improvement Plan remains on schedule and that the company is navigating a challenging European market while maintaining disciplined cost management and pursuing opportunities for growth in data‑center and automotive markets.
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