Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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LyondellBasell Industries N.V. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2011
- Operating Profit Margin since 2011
- Return on Equity (ROE) since 2011
- Analysis of Debt
- Aggregate Accruals
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LyondellBasell Industries N.V., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).
- Revenue and Sales Trends
- Trade revenues displayed a general declining trend from early 2014 through late 2015, falling from approximately $10.9 billion to about $6.9 billion. Starting in 2016, revenues showed signs of stabilization and gradual recovery, reaching over $9.9 billion by mid-2018. Similar patterns were observed in total sales and other operating revenues, which declined sharply through 2015 before gradually increasing and stabilizing above $9 billion in 2017 and 2018.
- Cost of Sales and Gross Profit
- Cost of sales mirrored the revenue trend, decreasing significantly from 2014 until late 2015 and then recovering gradually through 2018. The reduction in costs was less pronounced than the decline in sales, resulting in fluctuating gross profit margins. Gross profit peaked in Q3 2014 at nearly $1.95 billion but saw a steep drop in Q4 2014 and through 2015. Recovery started in 2016 with gross profit stabilizing between $1.3 to $1.9 billion and exhibiting volatility through 2018 with a downward tick by early 2019.
- Operating Income and Expenses
- Operating income followed a similar trajectory as gross profit, declining markedly by the end of 2015, with values falling from a high of around $1.7 billion in Q3 2014 to just over $1 billion by Q4 2015. From 2016 onwards, operating income exhibited a modest recovery and was relatively stable between $1 billion and $1.6 billion. Selling, general, and administrative expenses remained relatively consistent in magnitude, with minor fluctuations, while research and development expenses were stable and low in proportion to revenues.
- Interest and Other Income
- Interest expenses gradually decreased from early 2014 through 2016 but spiked sharply in Q4 2016, likely due to unusual or non-recurring items, before returning to previous levels. Interest income was consistently low and stable throughout the period. Other income showed variability, with notable positive spikes at the end of 2016 and some positive increments in 2017 and 2018, indicating occasional gains or favorable events outside core operations.
- Income Before Tax and Tax Provision
- Income from continuing operations before taxes rose sharply during 2014 reaching nearly $1.7 billion by Q3 2014 but dropped in Q4 2014 and 2015 aligned with revenue decreases. A recovery period followed through 2016 to 2018, though not consistently reaching previous highs. Tax provisions were volatile, occasionally reflecting tax benefits as in Q4 2017, impacting net income variability, and showing a mixture of positive and negative tax effects.
- Net Income and Comprehensive Earnings
- Net income followed the downward trend observed in revenues and operating income during 2015, with a notable trough at the end of that year, followed by a gradual increase through 2017 with a peak in Q4 2017 near $1.9 billion. This peak was distinct from surrounding quarters, likely influenced by one-time items or favorable tax conditions. Earnings attributable to company shareholders reflected this pattern closely, with a notable increase in late 2017 and stabilization thereafter. Discontinued operations showed minor impacts, generally negative but insignificant in magnitude relative to continuing operations.
- Overall Financial Performance Insights
- The company experienced a clear cyclical pattern through the reported periods, with a significant downturn around 2015 affecting revenues, gross profit, and net income, followed by a gradual recovery phase extending into 2018. Operating expenses and R&D spending were maintained at relatively stable levels, suggesting cost management efforts amidst volatile revenue conditions. Interest expenses saw a temporary surge, which, along with tax provision fluctuations, contributed to earnings volatility. The financial results imply sensitivity to external market conditions impacting trade revenue and cost structures, with some evidence of recovery and financial stabilization in the latter part of the observed timeframe.