LyondellBasell's second-quarter 2022 net profit is $1.643 billion

On July 29, LyondellBasell announced second-quarter 2022 net income of $643 billion, or $98 per sha.

The table below provides a comparison to the previous quarter and the second quarter of 2021:

“With a diversified portfolio, strong cash generation and disciplined capital allocation, LyondellBasell has been recognized as one of the best-run companies in our indust.

"In the second quarter in particular, LyondellBasell's global portfolio delivered strong earnings and cash generation driven by record performance and excellent refining margins in our Intermediates and Derivatives segme.

LyondellBasell's broad portfolio supported second-quarter EBITDA growth of 18% sequential.

LyondellBasell generated $6 billion in cash from operating activities during the quart.

During the quarter, LyondellBasell signed several renewable energy purchase agreements that will help reduce the carbon footprint of operatio.

Outlook

“The strength of our business mix provided resilience in the third quarter, with continued strong demand in the packaging market and high margins on our oxyfuel and refined produc.

Slowing demand for raw materials and energy and rising costs are likely to squeeze margins across most of the company's businesses in the third quart.

LyondellBasell is starting commissioning activities for its largest growth investment in the third quart.

"We expect our new propylene oxide capacity to provide a meaningful addition to our revenue from 2023 and help contribute to a more sustainable world," Vanacker sa.