LyondellBasell Reports Q3 2026 Earnings & Agrees to Sell Houston Refinery Site for $320.5M

LyondellBasell Industries N.V. (NYSE: LYB) Form 8-K Summary

1. Item 8.01: Sale of Houston Refinery Site

• Agreement: On October 29, 2026, LyondellBasell entered into an agreement to sell its wholly owned subsidiary, Houston Refining, L.P., to a subsidiary of Valero Energy Corporation.
• Assets Included: The former Houston refinery site and related assets (refining operations were shut down in February 2025).
• Purchase Price: $320.5 million.
• Timing & Conditions: The transaction is expected to close in the fourth quarter of 2026, subject to customary closing and regulatory approvals.

2. Item 2.02: Third Quarter 2026 Financial Results

• Revenue: $8,499 million, compared to $9,177 million in Q2 2026 and $7,727 million in Q3 2025.
• Net Income: $758 million (GAAP) / $828 million (ex-identified items), compared to a net loss of $(890) million in Q3 2025.
• Diluted EPS: $2.32 (GAAP) / $2.54 (ex-identified items), compared to $(2.77) in Q3 2025.
• EBITDA: $1,420 million (GAAP) / $1,512 million (ex-identified items).
• Identified Items: Net pre-tax charges included $77 million in site closure costs (European PO joint venture closure) and $22 million pre-tax loss from discontinued operations.

3. Cash Flow and Capital Allocation

• Operating Cash Flow: $1.7 billion generated in Q3 2026, supported by working capital releases.
• Capital Expenditures: $303 million.
• Shareholder Returns: $224 million returned via dividends.
• Deleveraging: Repaid a €500 million senior note maturity during September 2026.
• Balance Sheet & Liquidity: Closed the quarter with $3.2 billion in cash and cash equivalents and $7.7 billion in total available liquidity.

4. Q4 2026 Operational Guidance

• Expected Operating Rates:
  • North American Olefins & Polyolefins (O&P): ~85%
  • European O&P: ~60%
  • Intermediates & Derivatives (I&D): ~75%
• Turnarounds & Maintenance: Planned maintenance in a North American polypropylene unit; seasonal working capital release expected in Q4.