Thomas. Thanks,
in million to improvement approximately driven outpaced results declines the Let's by quarter. higher $XXX turn affordable increased Slide declines Olefins ethylene. materials and in abundant Olefins segment, first a $XXX to price the Americas cost million, by raw million driven gas quarter. was Results by $XX our than as the the natural liquids. was In review higher first and of our margin business results. compared quarter X and second This EBITDA of were Polyolefins
X%. operating strong during remained rates by second Ethylene the rates quarter, XX%, exceeding industry averaging
our previously from to may to We've be optimize our of ethylene our in from useful We feedslate spoke about feedslate. to system. It cracker was lower production prices more continue much composition produced NGL NGLs. Gulf of the understand Coast benefit our how U.S.
found butane-based than crackers quarter, propane In in than materials were more we used More advantage of or raw the purely XX% prices. XX% was ethane. butane and and low in American North the propane- second
an as NGLs Y-grade mixed of utilization ethylene our increase to continue We advantaged feedstock.
of the feedslate Y-grade. our second North single-digit quarter, mid American composed of cracker During percentages was
to industry than production of of Polyethylene polyethylene is spread increase and increasingly in capacity. demand second American more industry over delays one-third serving downtime of being ton. Canada the during million quarter. in during and now margin per the prices than North with risen and July about exported. continued polyethylene new ethylene results due Spot ethylene $XX increased commissioning more global $XX have production of the improved U.S. is Polyethylene
of capacity polyethylene into and illustrates Slide global from coming of the wave XXXX green capacity consultants' the impacts dash The XX, forecast forecast from new rates. line impact historical the on depicts industry. additions operating for current
that then operating this to operating rates rates downturn chain rates compressed in similar when effective – margins, back turnaround in below operating XX%. ethylene a observers in Some would cycles of period believed the result tipped past
the planned of absorb start the allowed demand in delays supply. robust new to global However, capacity
the more gray high be have dark forecast margins integrated relatively maintained chain the the by than far rates XXXX shown strong outcome. to The bearish from proved As ethylene and line, industry endured. actual operating
forecast might some expected will canceled. wave the small of by plant in dash than illustrated lead consultant this capacity results, a decline line. operating be current expected rates supply recent industry during that also additions and of Similarly, will come some to Based the later gray on planned projects we XXXX, predicted online global next
the the that rate extends of to years once likely planned rates flatter are capacity today's These a reduction delays produce to come. for and high operating relatively again profile
capacity fluctuations, good local but tight, particularly we producers. profitability markets, advantaged industry markets balanced New to create for providing will in short-term global will remain believe
Slide to Asia of review segment. turn our Olefins International the please Now Polyolefins, & Europe, to and performance XX
million, polyethylene keeping quarter. improvement $XXX increases first million prices. seasonal EBITDA chain pace margins, a were the quarter, was increase in During ethylene with Results continued polyethylene the rising over driven $XX by price second with
than contract decrease nearly in volume to with operating volume. million $XX improved and improved ethylene $XX due Margin a rates. primarily declined results the ton more improved results $XX Olefins Combined, polyolefins per increased as million. price increased
the hope as During region pause to polymer of demand during the July, – market the half with customers falling of we in strong a second have taking returned after for June the prices. seen
Looking of XX% are America, in July June. our a at undergoing our both from LyondellBasell levels perspective, & to the and XX% global in are Polyolefins market. our above opportunities seek volume during With projected to six for Europe Olefins will quarter, sales that North Western turnarounds catch third the competitors', European crackers polyethylene at
to Circular Polymers, venture QCP, our I'd to take the polypropylene now polyethylene the are recycled with in produce like and moment our highlight joint customers products SUEZ some Quality that we with creating Netherlands. of a at
Unilever QCP product waste. with On also for is resins collaboration with made inside post-consumer the recycled packaging. the liner and supply consumer made made Axe with to from is plastic We've polypropylene Slide outer PET XX, and bottles. create using shell Dove collaborated from The see recycled our you plastic first Samsonite fabric to post-consumer suitcase post-consumer
As in for demand that increases continue materials premium the believe grow. to circular we will prominence, economy recycled
LyondellBasell's model. of plastic SUEZ strengths polymer each We Our with will partner's materials an deep by consumers. mechanical innovative recycling new that technology that become business convert and component waste harnesses essential of knowledge deploys products and to valued venture joint believe into LyondellBasell's are sustainable
turn Slide XX. to Please
Let's look segment. and Intermediates our at a take Derivatives
oxyfuels portfolio were Second quarter. over by quarter million, profitability. a strong driven the increase I&D consistent prior $XXX was seasonally the bolstered of business by $XX EBITDA million Results performance
improved results PO in declined to primarily compared an decline volume million, by $XX million volume. most driven results increase than quarter Intermediate by to $XX and the first more for Chemical derivatives in due products.
driven Products results butane million nearly Related improved prices. saw & Oxyfuels increases as by $XX lower margin seasonal we feedstock by strong
stronger disruption the Oxyfuels Products for been not terminal Thomas mentioned, Houston even As have results our & the Related fire. of would if
incident strong to impact and quarter, we margins little the the oxyfuels terminal we to remain Fortunately, business. anticipate third no expect our during from on
results Now please Slide to the review turn Polymer our Advanced of segment. XX Solutions to
not were lower this quarter due Second business to that quarter materialize. million $X.XX million, EBITDA by quarter Results $XX and $XX integration the earnings for the was automotive The second to decrease in $XXX and prior second share. a million per industrial the were compared did costs anticipated A. in the seasonal both diminished we impacted demand for quarter. markets. construction Schulman strength
As transaction results integration softness we acquisition million the costs results related discussed and for and only fourth $XX the in for prior are earnings included the XXXX Compounding to in costs the are current declined quarter XXXX calls, approximately Solutions market. third through in automotive the driven quarter included & by integration the first the both quarter. in quarter
decreased to pricing. were Advanced for a compounds most unchanged. products Polymers polypropylene and Volume relatively declined due for results lag propylene margin in primarily
same The quarter, summer last was market. strongest industrial and construction the second the XX% to were due by the the year. to quarter for volumes down typically is business this case this quarter That not compared
well. quarter, $XXX an rate $XXX of progressing are of next are we end August and million cost million, capturing At to before integration of very the meet the track we synergies A. Our at Schulman second of well on approximately of target the is annual year.
volumes some seasonal expect potential be for for the with quarter, improvement. fairly demand We third to stable
The be markets as particularly July. for that automotive will XX slow, for non-compliant automotive market demand the implementation for of applications provinces and Chinese have APS such the accelerated during stricter and products appliances, models where and automotive Asia, standards beyond agriculture. demand to cities electronics extend return packaging of emission reduced and construction has Customer typical in
can film polymer the the with mixed are friction to itself plastic polymer commodity reduce sticking used and in a are specific efficiency properties from product. On during to improve that Masterbatches prior processing and during of resins finished of blends to or masterbatches use a Anti-blocking of customized processing compound films Slide to XX, during masterbatches. be roll prevent use. we production both anti-blocking called highlight type
masterbatches masterbatch the range An the wider products, the our fabrication packing including customer tape. of end of food streamlines minimize to usability serve improves meet waste. needs, and customizing effective anti-blocking to anti-blocking By process film properties films, agricultural a and
discuss decrease for a the negative XX, quarter. quarter Slide for a $XX second our let's the $XX compared to the segment. to million, Turning results first EBITDA Refining was million
Houston the for of refinery throughput benefits crude operating reliability barrels XXX,XXX demonstrate to at nameplate continue capacity We the day the with quarter. of per increasing our and program at rate to XX%
on Unfortunately, improved source refinery from refinery because spread the full crude for Maya sour April and the The able The of locations. our averaged at crack $XX does we our to sourced processed not approximately barrel not Canada all were other of Maya spread X-X-X its that price are oil oil benefit and capture crack a crude in significantly heavy per second basis. quarter. improvement Mexico,
market quarter. market heavy prices sour the business of oil challenging buy crude High the Houston refining we open portion on the created a second during for on our
will this bolster We continue October to IMO from and results during September anticipate of XXXX that regulations the our year. margin benefit refining
highlights. quarter's summarize let me XX, this Slide On
$X.XX four for quarter, During our EBITDA resilient improvement and Low consumer an six the in of costs demand resulting products segments, we per in the EBITDA drove overall second achieved feedstock for earnings of increase share. XX% our quarter. of
XX past billion generated repurchases months, that the operating our A. cash billion Over contributed a and of completing funding top paying dividend, for share $X.X company Schulman. from increased decile $X.X acquiring capital in to investment, activities
announcing polypropylene our and by at Thailand, discussions approach our move joint of value-driven project disciplined venture regarding in our acquisition on Braskem. potential strategy the exhibited ending growth We forward second the by Spherizone we
our new this during of plant and are second the construction PO/TBA advancing facility our Hyperzone year. will We of commission polyethylene half
continue feedstocks provide our should I&D both and In for North O&P from we America, to consumer business our NGL benefit resilient forward, advantage segments. that low-cost demand. Going will expect
level oxyfuels In our of profitability for the Northwest benchmark highest margins should seen reaching I&D summer segment, remainder since Europe persist season, with XXXX. strong the driving the
refining be as adopt to regulations, will we operating with fuel Additionally, margins markets rates. marine high improve new ready capture
ability to of a provides in capture businesses poised range confidence advantaged, portfolio and market across environments. resilient of opportunities global our Our to remain
Tuesday, we we our XX, your Investor hold for event. of in questions, Houston, make Texas. September On our upcoming want will Before to aware investor the line Day I open you here next
full are as a well tour site of planning a event, view our day with as plant Houston technology We channel center. our
talk the executive You learn of to members will for our teams Investor opportunity our future. invitations Please more the our details. with your and have contact for plans for e-mail team Relations leadership about watch further or
questions. With that now said, your take pleased we to are
