LyondellBasell Industries announced net income for Q1 2020 of $0.1 billion, or $0.42 per share.
EBITDA was $0.6 billion in January-March 2020 or $1.1 billion excluding LCM. To achieve $200 million in forward annual run-rate synergies by the close of Q3 2020, integration activities are on schedule related to the 2018 acquisition of A. Schulman.
Global initiatives to limit the spread of coronavirus during March resulted in declining demand for transportation fuels. This results lessened margins sharply for the company’s gasoline and oxyfuels produced in the Intermediates & Derivatives and Refining segments.
For the company’s Advanced Polymer Solutions segment, automotive manufacturing shutdowns diminished typical seasonal improvements. More than 33 percent of the segment's product volumes are utilized in the automotive sector. Production at several relatively small plants have been temporarily halted in its APS segment serving automotive end markets.
