LyondellBasell Q3 net income $0.7 billionStaff Writer | February 4, 2019
LyondellBasell Industries announced net income for the fourth quarter 2018 of $0.7 billion, or $1.79 per share.
LyondellBasell Fourth quarter 2018 EBITDA was $1.2 billion
The full year 2018 included a $346 million non-cash tax settlement that increased earnings by $0.88 per share and $73 million of transaction and integration costs that decreased earnings by $0.14 per share.
Integration activities related to the acquisition of A. Schulman are on schedule with $47 million in forward annual run-rate synergies as of December 31, 2018.
"During the past year LyondellBasell extended our proven track record of delivering strong earnings for our shareholders.
"Despite market challenges in the second half of 2018 and both planned and unplanned downtime that impacted fourth quarter earnings by approximately $225 million, we leveraged the diversity of our global business portfolio and the agility of our commercial teams to generate approximately $5.5 billion of cash from operating activities for the year.
"In 2018 we improved upon our company safety record and established new EBITDA records in our Intermediates & Derivatives and Technology segments through market improvements, targeted contracting strategies and an increased number of polyolefin technology licenses," said Bob Patel, LyondellBasell CEO. ■