Welcome to our dedicated page for Lyondellbasell Industries N V news (Ticker: LYB), a resource for investors and traders seeking the latest updates and insights on Lyondellbasell Industries N V stock.
LyondellBasell Industries (LYB) is a global leader in chemical manufacturing and advanced recycling solutions, producing essential polymers like polypropylene and polyethylene for industries worldwide. This page serves as your centralized source for all LYB-related news, offering investors and industry professionals timely updates on strategic developments.
Find official press releases, earnings reports, and analysis of operational milestones across LYB's core segments: olefins production, refining operations, and circular economy initiatives. Track updates on mergers, technological advancements, and sustainability projects that shape the company's position in global chemical markets.
Our curated news collection helps stakeholders monitor LYB's progress in mechanical recycling technologies, market expansions, and product innovations. Bookmark this page for direct access to primary source updates from one of the world's largest polyolefin producers, ensuring you stay informed about critical developments affecting the chemicals sector.
LyondellBasell reported a net income of $1.4 billion for 2020 and $0.9 billion for Q4 2020, with diluted earnings per share of $4.24 and $2.55, respectively. EBITDA stood at $3.3 billion for the year and $1.4 billion for Q4. The company expanded operational capacity through new joint ventures in China and Louisiana and paid $4.20 per share in dividends. However, a $582 million impairment charge and ongoing challenges in the refining segment influenced overall performance.
LyondellBasell (NYSE: LYB) and Sinopec have announced a 50:50 joint venture to produce propylene oxide (PO) and styrene monomer (SM) in China. This venture, named Ningbo ZRCC LyondellBasell New Material Company Limited, will have production capacities of 275 kilotons per annum for PO and 600 kilotons for SM. The new unit in Ningbo is set to start operations by the end of 2021, subject to government approvals. This collaboration aims to cater to China's growing demand for these chemicals, which are key to various industries.
LyondellBasell (NYSE: LYB) will announce its fourth-quarter 2020 financial results before the U.S. market opens on January 29, 2021. A teleconference and webcast to discuss these results will take place at 11:00 a.m. EST. Hosted by David Kinney, Director of Investor Relations, the webcast can be accessed via www.lyondellbasell.com/earnings. Replay of the call will be available from 1:00 p.m. EST January 29 until February 28.
LyondellBasell (NYSE: LYB) has officially joined the United Nations Global Compact, emphasizing its commitment to sustainability. The initiative encourages companies to align with principles on human rights, labor, and anti-corruption. CEO Bob Patel highlighted the company's focus on reducing plastic waste and addressing climate change. In 2020, LyondellBasell set ambitious recycling targets and launched its MoReTec molecular recycling pilot in Italy. The company is also a founding member of the Alliance to End Plastic Waste, reflecting its dedication to eliminating environmental plastic waste.
LyondellBasell (NYSE: LYB) and SUEZ have expanded their Quality Circular Polymers (QCP) joint venture by acquiring TIVACO, a plastics recycling company in Belgium. This acquisition will enhance QCP's recycling capacity to approximately 55,000 tonnes per year. The move aligns with LyondellBasell's goal to produce 2 million tons of recycled and renewable polymers annually by 2030, contributing to sustainability in plastic production. The TIVACO facility adds to QCP's existing operations, which already process significant volumes of recycled materials for consumer products.
LyondellBasell (NYSE: LYB) announced that CEO Bob Patel will address investors at the Citi 2020 Basic Materials Virtual Conference on December 1 at 2:00 p.m. EST. The presentation will be accessible via a live webcast, with a replay available within 24 hours. LyondellBasell is among the world's largest plastics, chemicals, and refining companies, recognized for its products that tackle modern challenges such as food safety and environmental protection. The company was named one of Fortune Magazine's "World's Most Admired Companies" for the third consecutive year.
LyondellBasell (NYSE: LYB) has declared a quarterly dividend of $1.05 per share. This dividend will be paid on December 7, 2020, to shareholders who are on record as of November 30, 2020, with an ex-dividend date set for November 27, 2020. The announcement reinforces LyondellBasell’s commitment to returning value to shareholders and reflects its position as one of the largest plastics, chemicals, and refining companies globally.
LyondellBasell Industries (LYB) reported third-quarter 2020 net income of $114 million ($0.33 per share), significantly impacted by a $582 million impairment related to its Houston refinery. Adjusted net income, excluding this impairment and a $160 million LCM benefit, was $427 million ($1.27 per share). EBITDA for the quarter was $466 million, or $888 million when excluding impairments. The company also announced strong demand for polyethylene and a successful $3.9 billion bond issuance. Liquidity remained robust at $5.5 billion.
LyondellBasell (NYSE: LYB) will announce its third-quarter 2020 financial results on October 30, 2020, before market opening. A teleconference and webcast will follow at 11:00 a.m. EDT led by David Kinney, Director of Investor Relations. Participants can access the webcast starting 10-15 minutes prior through their website. Replay options will be available after the call until November 29, 2020. As one of the largest global plastics and chemicals companies, LyondellBasell is recognized for innovative solutions in modern challenges.
FAQ
What is the current stock price of Lyondellbasell Industries N V (LYB)?
What is the market cap of Lyondellbasell Industries N V (LYB)?
