LyondellBasell Reports $603 Million Loss in Q4 2024

LyondellBasell Industries reported a fourth-quarter 2024 net loss of $603 million, or $1.87 per share, a significant decline from the $185 million profit recorded in the same quarter the previous year. The adjusted earnings per share were $0.75, aligning with analyst expectations but reflecting a decrease from $1.26 a year ago. The company's revenue was $9.5 billion, slightly surpassing the Zacks Consensus Estimate but down from $9.93 billion the previous year. The loss was influenced by identified items totaling $852 million, including asset write-downs in Europe, Asia, and the Advanced Polymer Solutions segment. The petrochemical giant faced challenges from high natural gas feedstock costs and weak demand in Europe and Asia, impacting margins across most business segments. Despite these challenges, LyondellBasell achieved strong cash performance and continued to advance its Circular & Low Carbon Solutions business.