20 Companies! Summary of Chemical Giants’ 2024 Financial Performance!

On February 6, Honeywell announced its full-year 2024 financial results: total sales amounted to $38.5 billion, up 5% year-on-year, with organic sales growth of 3%. Operating income reached $7.441 billion, up 5% year-on-year; operating margin remained flat, while segment profit rose by 1% and segment margin contracted by 90 basis points—driven by strong performance in Honeywell’s long-cycle industrial automation businesses outpacing the recovery in short-cycle sectors. Additionally, Honeywell announced plans to spin off into three independent, publicly traded companies: Automation, Aerospace, and Advanced Materials. Chemours On February 18, Chemours Company released its fiscal 2024 results: net sales totaled $5.8 billion, down 5% year-on-year; net income was $86 million (compared to a $2.37 billion loss in the prior year); adjusted EBITDA stood at $786 million, down 22% year-on-year. The earnings report also indicated that Chemours has initiated a strategic review of the asset footprint of its European Advanced Performance Materials (APM) business. LyondellBasell On January 31, LyondellBasell Industries reported its full-year 2024 results: net income amounted to $1.4 billion, down 35.6% year-on-year; EBITDA was $3.5 billion, down 23.4% year-on-year; EBITDA excluding identified items was $4.3 billion. The company attributed the decline primarily to persistently weak global demand, rising raw material costs, and broader economic uncertainty across the petrochemical markets throughout 2024. Widespread softness in durable goods demand pressured margins across its Olefins & Polyolefins and Intermediates & Derivatives segments. Meanwhile, recovery in margins for its Advanced Polymer Solutions segment remained constrained due to declining global automobile production. Comparisons with the prior quarter (Q4 2023) and full-year 2023 are presented in the table below: ExxonMobil On January 31, ExxonMobil announced full-year 2024 earnings of $33.7 billion, down 6.5% from $36.0 billion in 2023; operating cash flow totaled $55.0 billion, and free cash flow reached $34.4 billion. In Q4 2024 alone, earnings were $7.6 billion, down 11.6% sequentially; operating cash flow was $12.2 billion, and free cash flow was $8.0 billion. Eastman Chemical On January 30, Eastman Chemical Company reported its fiscal 2024 results: sales revenue totaled $9.382 billion, up 1.88% from $9.210 billion in 2023; EBIT was $1.278 billion, slightly down from $1.302 billion in 2023; adjusted EBIT was $1.298 billion, up 18% from $1.097 billion in 2023; operating cash flow was $1.287 billion, down from $1.374 billion in 2023. LG Chem On February 3, LG Chem announced its 2024 financial results: consolidated revenue (including LG Energy Solution) amounted to KRW 48.9161 trillion, down 11.46% year-on-year; operating profit was KRW 916.8 billion, down 63.75% year-on-year.

Zhongzhi Weiye Information | Q3 Financial Results of the World’s Top 50 Chemical Enterprises Released!

Yuntianhua: Q3 2024 revenue totaled RMB 18.084 billion, down 8.83% year-on-year; net profit was RMB 1.027 billion, down 27.80% year-on-year. For the first three quarters, revenue totaled RMB 53.303 billion, down 5.59% year-on-year; net profit attributable to shareholders of the listed company was RMB 3.704 billion, down 27.80% year-on-year. Xinfengming: Q3 2024 revenue totaled RMB 16.017 billion, up 12.57% year-on-year; net profit attributable to shareholders was RMB 407 million, turning from loss to profit year-on-year. Cumulative revenue for the first three quarters totaled RMB 44.200 billion, up 16.49% year-on-year; net profit attributable to shareholders was RMB 887 million, up 212.19% year-on-year. Sinochem International: Q3 2024 revenue totaled RMB 13.993 billion; net profit attributable to shareholders was -RMB 376 million. For the first three quarters of 2023, revenue totaled RMB 43.014 billion, and net profit attributable to shareholders was -RMB 540 million. Kingfa Science & Technology: Q3 2024 revenue totaled RMB 13.942 billion, up 41.56% year-on-year; net profit attributable to shareholders was RMB 15.266 million, down 96.19% year-on-year. For the first three quarters, revenue totaled RMB 34.291 billion, up 16.97% year-on-year; net profit attributable to shareholders was RMB 484 million, down 59.75% year-on-year. Huasai Group: Q3 2024 revenue totaled RMB 11.46 billion, up 16.34% year-on-year; net profit was RMB 552 million, up 413.38% year-on-year. For the first three quarters, revenue totaled RMB 31.037 billion, up 5.73% year-on-year; net profit was RMB 663 million, down 41.71% year-on-year. Satellite Chemical: Q3 2024 revenue totaled RMB 10.868 billion, up 21.34% year-on-year; net profit attributable to shareholders was RMB 1.551 billion, up 525.40% year-on-year. Revenue for the first three quarters exceeded RMB 30 billion for the first time in history, reaching RMB 30.881 billion, up 11.21% year-on-year; net profit attributable to shareholders was RMB 3.394 billion, up 11.43% year-on-year. Zhongtai Chemical: Q3 2024 revenue totaled RMB 9.846 billion, down 16.44% year-on-year; net profit attributable to shareholders was -RMB 221 million. SABIC (Saudi Basic Industries Corporation): Q3 2024 total sales amounted to SAR 35.98 billion (approx. USD 9.59 billion), up 6% quarter-on-quarter but down 17% year-on-year; net loss totaled SAR 2.88 billion (approx. USD 770 million), reversing from a net profit of SAR 1.18 billion (approx. USD 310 million) in the prior quarter. Mitsubishi Chemical: For the first half of FY2024 (April–September), revenue totaled JPY 2.15 trillion, down 5.3% year-on-year; net profit was JPY 67.2 billion, down 9.1% year-on-year. Sumitomo Chemical: For the first half of FY2024 (April–September), revenue totaled JPY 1.187 trillion, down 22.4% year-on-year; net loss was JPY 76.3 billion, compared to net profit of JPY 81.1 billion in the same period last year. Mitsui Chemicals: For the first half of FY2024 (April–September), revenue totaled JPY 823.7 billion, down JPY 127.4 billion year-on-year; net profit was JPY 20.7 billion, down JPY 23.7 billion year-on-year.

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