A fixed rule set over this filing's XBRL figures and the number of high-severity risks found in it — no model judgement.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
LyondellBasell Industries N.V. (LYB) reported strong financial results in Q2 FY2026 with revenue rising 19.8% YoY to $9.18B and operating income jumping 441.4% YoY to $1.54B, driven by margin expansion amid Middle East supply constraints, despite absorbing a $734M pre-tax loss on European asset divestitures.
Revenue
$9.18B
+19.84% YoY
EPS (Diluted)
$1.71
+402.94% YoY
Operating Income
$1.54B
+441.40% YoY
Filed · Source: SEC EDGAR 10-Q filing
LyondellBasell Industries N.V (LYB) reported Q2 FY2026 revenue of $9.18B, up 19.8% year over year. Diluted EPS was $1.71. Operating income was $1.54B, up 441.4% year over year. LYB's fiscal Q2 FY2026 corresponds to calendar Q2 2026.
LYB Q2 FY2026 revenue grew 19.8% YoY to $9.18B and operating income rose 441.4% YoY to $1.54B on tight global chemical supply, offsetting a $734M loss on European asset sales.
Last 4 quarters: 3 beats, 1 miss
Adjusted (non-GAAP) EPS of $4.30 versus the $3.45 analyst consensus — a +24.7% beat for Jun 2026. Analyst consensus is quoted on the adjusted (non-GAAP) basis the street uses. GAAP diluted EPS for this quarter was $1.71.
Revenues increased 19.8% YoY to $9.177B in Q2 FY2026, primarily due to higher average selling prices resulting from global chemical supply constraints extended by the conflict in the Middle East.
Source: 10-Q Item 2 MD&A, p.30-32
During Q2 FY2026, LYB completed the divestiture of select European olefins and polyolefins assets, recognizing a pre-tax loss of $734M and making a cash contribution of $310M to the divested group.
Source: 10-Q Item 2 MD&A, p.30, 32, 41
O&P-Americas EBITDA surged 262% sequentially to $1.183B on 70-80% ethane feedstock cracking, while O&P-EAI EBITDA dropped to -$432M due to the $734M European divestiture loss.
Source: 10-Q Item 2 MD&A, p.35-37
Operating cash flow for the first six months of FY2026 improved to $483M (up from -$228M in 6M FY2025), supporting $539M in capital expenditures and $448M in dividends following a dividend reduction announced in February 2026.
Source: 10-Q Item 2 MD&A, p.30, 41
Cost of revenue reached $7.14B in Q2 FY2026, representing 77.8% of total revenues. Fluctuations in crude oil, naphtha, and natural gas liquid prices could narrow product spreads if raw material cost increases cannot be passed to customers.
Source: 10-Q Income Statement (XBRL)
Current liabilities rose 13.8% YoY to $7.11B while stockholders' equity contracted 10.4% YoY to $10.67B, increasing short-term operational commitments.
Source: 10-Q Balance Sheet (XBRL)
Six-month operating cash flow of $483M was insufficient to fully cover the $539M in YTD capital expenditures, leading to a negative YTD free cash flow of $56M.
Source: 10-Q Cash Flow Statement (XBRL)
This analysis does not extract a guidance section. Companies issue revenue and EPS outlook in the 8-K press release and on the earnings call rather than in the 10-Q itself — though the filing's management discussion can contain forward-looking statements, which appear in the highlights above where they were material.
See the LYB earnings preview — expected date, analyst estimates and what to watch →
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue | $9.18B | $7.66B | +19.84% |
Cost of Revenue | $7.14B | $6.87B | +3.90% |
Operating Income | $1.54B | $285M | +441.40% |
EPS (Basic) | $1.71 | $0.34 | +402.94% |
EPS (Diluted) | $1.71 | $0.34 | +402.94% |
R&D Expense | $34M | $35M | -2.86% |
SG&A Expense | $387M | $435M | -11.03% |
LYB reported revenue of $9.18B (up 19.8% YoY) and operating income of $1.54B (up 441.4% YoY) in Q2 FY2026. The results were bolstered by expanding margins caused by global supply constraints amid Middle East conflicts, though net earnings were partially offset by a $734M pre-tax loss on European asset divestitures.
Revenue grew 19.8% YoY to $9.18B in Q2 FY2026. Revenue was driven higher primarily by a 33% pricing benefit from industry supply constraints, partially offset by a 5% volume decline following European asset divestitures.
In Q2 FY2026, LYB completed the divestiture of select European olefins and polyolefins assets and associated businesses. The company recognized a pre-tax loss of $734M on the sale and contributed $310M in cash to the divested group.
LYB holds $2.63B in cash and cash equivalents and total liquidity support via $4.45B in unused committed credit facilities as of June 30, 2026. Current assets of $11.67B comfortably cover current liabilities of $7.11B with a current ratio of 1.64.
Expected release date, analyst estimates & what to watch
LyondellBasell (LYB) reported Q1 2026 revenue of $7.20B (down 6.3% YoY) while operating income more than doubled to $239M, though EPS fell 29.6% to $0.38 and operating cash flow remained negative at -$269M.
LYB reported a sharp reversal to an operating loss of -$420M in FY2025, with revenue declining 9.7% to $30.2B and EPS swinging to -$2.34, reflecting severe margin compression across its chemical operations.
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