LYB · 10-Q · 2026Q3 · Full report

Guidance and Outlook

LyondellBasell Industries N.V. · 2026-10-30 · Importance 48 · Surprise 24

Management expects normal seasonal demand patterns and ongoing supply uncertainty in the fourth quarter of 2026. It plans maintenance at a North American polypropylene asset and forecasts operating rates of 85% for O&P-Americas, 60% for European O&P-EAI, and 75% for I&D assets. The company expects a seasonal release of working capital and says it will continue executing its cash improvement plan while prioritizing safe asset operations, deleveraging, dividends, and selective investment.

Key facts

• The company postponed the final investment decision on MoReTec-2, citing a slower-than-anticipated pace of U.S. circularity investments in relation to the impairment of its Houston plastic-waste-sorting-facility investment. source
• The company planned maintenance at a North American polypropylene asset during the fourth quarter of 2026. source
• The company expected fourth-quarter operating rates of 85% for O&P-Americas assets, 60% for European O&P-EAI assets, and 75% for I&D assets, aligned with global demand and planned maintenance. source
• For the fourth quarter of 2026, the company expected normal seasonal demand patterns along with ongoing supply uncertainty. source
• The fourth quarter of 2026 was expected to deliver a seasonal release of working capital. source
• The Middle East situation was expected to remain fluid; a return to pre-conflict conditions was expected to be nonlinear and take longer than anticipated. source
• The company remained focused on executing its cash improvement plan. source
• The company's capital allocation priorities were to safely operate and maintain assets, strengthen the balance sheet through disciplined deleveraging, maintain an attractive dividend, and selectively invest in opportunities enhancing long-term shareholder value. source