Exelon Adjusted Earnings Beat Estimates at $0.87 a Share; LyondellBasell Reports $2.32
Key Facts
The companies posted mixed results for the third quarter of 2026, with Exelon’s adjusted operating earnings topping the market estimate of $0.80 a share, while LyondellBasell reported diluted earnings of $2.32 a share and adjusted earnings below estimates. Exelon’s adjusted operating earnings were $0.87 a share, according to the Zacks consensus estimate. LyondellBasell’s adjusted earnings were $2.54 a share, versus an estimate of $2.73, according to Zacks. That measure differs from LyondellBasell’s reported earnings, which reached $2.32 a share. The results reflect different paths during the quarter: an earnings beat at the utility and a return to profitability at the petrochemical company, whose adjusted earnings fell short of expectations.
Exelon’s operating revenue was $7.319 billion in the third quarter, compared with $6.705 billion in the same period of 2025. The comparison shows a year-over-year increase in operating revenue, alongside adjusted earnings that exceeded the Zacks estimate. The company’s shares closed at $45.91 on October 29, 2026. That close came before the results were announced on October 30, so it does not reflect a subsequent price reaction to the disclosure. The closing data provided do not include that day’s high or low.
At LyondellBasell, net income was $758 million and reported diluted earnings were $2.32 a share, compared with a net loss of $890 million and diluted loss of $2.77 a share in the third quarter of 2025. On an adjusted basis, the company earned $2.54 a share, versus $1.01 in the year-earlier period, but fell short of the Zacks estimate of $2.73. The measures show how the comparison differs by basis: reported results swung from a loss to a profit, while adjusted earnings rose year over year but missed the consensus forecast. The company said specified items totaled $70 million after tax and reduced diluted earnings per share by $0.22. Those items included costs to close a European propylene oxide joint venture.
LyondellBasell’s operating revenue was $8.499 billion in the third quarter, compared with $9.177 billion in the second quarter of 2026 and $7.727 billion in the third quarter of 2025. Revenue therefore declined from the previous quarter but exceeded its year-earlier level. By business segment, the company said intermediates and derivatives profitability rose sharply during the quarter, driven largely by oxyfuels. It added that global supply disruptions lifted cracking spreads, while gasoline-blending economics supported octane values. Integrated polyethylene margins also ended at about 50% above 2025 levels, supported by positive polyethylene pricing momentum in September.
By contrast, profitability in the Olefins and Polyolefins Americas segment declined from the second quarter, as polymer and olefin product prices fell, the company said. Lower polymer prices also pressured margins in Europe, Asia and international markets. Sales volumes declined sequentially, which LyondellBasell attributed to the sale of certain European assets in May 2026. Financially, the company said it increased cash by about $600 million during the quarter, including a planned repayment of €500 million in debt. Chief Executive Peter Vanacker said the company delivered “another quarter of strong earnings and robust cash conversion” through disciplined execution and the strength of its low-cost global portfolio, noting that oxyfuels and intermediates and derivatives profitability supported the portfolio’s diversity.
For the fourth quarter of 2026, LyondellBasell expects operating rates of 85% for its North American Olefins and Polyolefins assets, 60% for its European assets and 75% for its Intermediates and Derivatives assets. The company said its outlook takes into account normal seasonal demand patterns and continued supply uncertainty. It held a third-quarter results discussion call on October 30, 2026, at 11 a.m. Eastern Time, and made a replay available through November 30, 2026.