Revenue Analysis:
Total and Operating Revenue: Over the periods, LYB’s total operating revenue saw fluctuations. From the highest $10.625 billion in Q3 2023, a slight decrease was noted by Q1 2024 at $9.925 billion. A similar trend was observed in previous quarters indicating variability in total revenue flow.
Gross Profit Margins: Gross profit followed a somewhat inconsistent trajectory, peaking at $1.448 billion in Q3 2023 and then falling to $1.162 billion by Q1 2024. This implies volatility in profitability margins relative to sales.
Cost Management:
Cost of Revenue: Cost of revenue showed a range from $8.764 billion to $9.177 billion across the observed quarters, indicating substantial costs tied directly to the production and service provisions.
Operating Expense: Operating expenses ranged between $409 million and $458 million, reflecting general administrative, sales, and R&D expenses, which remained significant yet stable throughout the periods.
Total Expenses: Total expenses portrayed a high of $9.586 billion in Q3 2023, gradually decreasing to $9.221 billion by Q1 2024, signifying a modest reduction in overall expenditure.
Profitability Analysis:
EBITDA: EBITDA ranged from $680 million in Q4 2023 up to $1.088 billion by Q1 2024, showing an improvement in earnings before interest, taxes, depreciation, and amortization.
Operating Income: Operating income improved notably from $556 million in Q4 2023 to $704 million in Q1 2024, indicating better management of operating costs relative to revenue.
Pretax Income: There was an upward movement in pretax income from $179 million in Q4 2023 to $596 million in Q1 2024, suggesting more effective overall financial management.
Net Income: Net income metrics align well with pretax trends, with an increase from $183 million in Q4 2023 to $471 million in Q1 2024, indicating strong profitability post-expenses.
Cash Flow Indicators:
Reconciled Depreciation: Depreciation varied slightly, from $367 million to $396 million, over the observed periods, reflecting ongoing asset depreciation.
Interest Expense: Interest expense maintained a range between $115 million and $127 million, representing a significant non-operating cost.
Taxation:
Tax Rate: The effective tax rate exhibited slight variability, notably a dip to 0.17 in Q3 2023 and moving to 0.204 by Q1 2024.
Tax Provision: Tax provisions showed fluctuations with a notable drop and later rising to $122 million by Q1 2024.
Tax Effect of Unusual Items: There were notable tax effects due to unusual items, particularly in Q3 and Q4 2023, impacting the net taxation figures.
Shareholder Metrics:
Diluted and Basic EPS: Earnings per share (EPS) metrics were strongest in Q3 2023 with $2.29, aligning with the highest net income reported in the same period.
Average Shares: The number of shares showed slight fluctuations but generally hovered around 325-327 million shares.
Net Income Available to Common Stockholders: This metric saw general growth, peaking concurrently with the net income figures.
Conclusion:
LYB exhibited volatility in revenue and profitability metrics over the observed period, yet it has shown promising signs of improvement in operational management and profitability towards the last quarter. Continuous monitoring and strategic adjustments are recommended to sustain and further these gains.