How did international petrochemical companies perform in 2024? What were the highlights of their earnings reports?

DuPont In 2024, the company’s net sales amounted to $12.386 billion, up 3% year-on-year; operating EBITDA totaled $3.144 billion, up 7% year-on-year. Eastman In 2024, the company’s sales revenue was $9.382 billion, compared to $9.210 billion in 2023; EBIT was $1.278 billion, versus $1.302 billion in 2023; adjusted EBIT was $1.298 billion, versus $1.097 billion in 2023; cash flow from operating activities was $1.287 billion, versus $1.374 billion in 2023. ExxonMobil In 2024, the company’s profit was $33.68 billion, down 6.5% year-on-year. Honeywell In 2024, the company’s sales were $38.498 billion, up 5% year-on-year; organic sales growth was 3% (4% excluding the impact of the Bombardier agreement); operating income grew 5%, while operating margin remained flat; segment profit rose 1% (6% excluding the Bombardier agreement); segment margin contracted by 90 basis points (20 basis points excluding the Bombardier agreement); earnings per share (EPS) were $8.71, up 3% year-on-year; adjusted EPS rose 4% to $9.89. Kemira In 2024, the company’s operating revenue was €2.9487 billion, down 13% year-on-year; EBITDA was €550.7 million, up 2% year-on-year; EBIT was €363.2 million, up 8% year-on-year; cash flow from operating activities reached €484.6 million, versus €546 million in 2023; diluted EPS reached a record €7.67, up 25% year-on-year. LG Chem In 2024, the company’s operating profit was ₩916.8 billion, down 63.75% year-on-year. Linde In 2024, the company’s sales were $33.0 billion, unchanged year-on-year, with underlying sales up 2%; operating profit was $8.6 billion, and adjusted operating profit was $9.7 billion, up 7% year-on-year; adjusted operating profit margin was 29.5%, 190 basis points higher; diluted EPS was $13.62, and adjusted diluted EPS was $15.51, up 9% year-on-year. LyondellBasell In 2024, the company’s net profit was $1.4 billion, and adjusted net profit was $2.1 billion; EBITDA was $3.5 billion, and adjusted EBITDA was $4.3 billion; cash flow from operating activities was $3.8 billion. 3M In 2024, the company’s sales were $24.6 billion, down 0.1% year-on-year; adjusted sales were $23.6 billion, up 1.3% year-on-year; operating margin was 19.6%; GAAP EPS was $7.26, and adjusted EPS was $7.30, up 21% year-on-year; adjusted free cash flow was $4.9 billion. PPG In 2024, the company’s net sales from continuing operations were $15.8 billion; diluted EPS was $5.72, and adjusted EPS was $7.87, up 6% year-on-year; operating margin was 17.1%, and business segment EBITDA margin was 19.9%, up 70 basis points year-on-year; corporate net profit margin was 8.5%, and adjusted EBITDA margin was 18.1%, up 100 basis points year-on-year; operating cash flow was $1.4 billion.

PPG’s full-year revenue remained flat at $15.9 billion last year, while net profit surged 17% to $1.6 billion.

For the full year 2025, the Group achieved an EBITDA of $2.631 billion, up 9.26% year-on-year. Operating profit was $1.587 billion, up 15.25% year-on-year. Net profit was $1.571 billion, up 17% year-on-year. The net profit margin increased from 8.5% in the prior year to 9.9%. Adjusted net profit was $1.722 billion, down 7.0% year-on-year. Amid a challenging macroeconomic environment, the company achieved earnings per share (EPS) of $6.92 for the full year 2025, and adjusted EPS of $7.58, down 4% year-on-year. The EBITDA margin across all business segments stood at 19%. These results reflect strong sales performance driven by our technologically leading products and powerful brands, and we achieved record results across multiple business areas—including aerospace coatings, protective and marine coatings, and packaging coatings. In 2025, we demonstrated strong adaptability amid a challenging macroeconomic environment: sales volume and selling prices both increased across all four quarters, resulting in 2% organic sales growth. We generated $1.9 billion in operating cash flow, with a free cash flow yield of 5%. During the year, we repurchased approximately $790 million worth of shares—about 3% of our outstanding shares. Including dividends, we returned $1.4 billion to shareholders in 2025. PPG Industrial’s Q4 2025 Factors Affecting Operating Performance PPG’s net sales for Q4 2025 were $3.914 billion, up 5.0% year-on-year. Organic sales rose 3% year-on-year—the highest quarterly performance this year—driven by growth across all three business segments. Overall selling prices rose 1% year-on-year, partially offset by declines in index-based customer contract pricing. Total sales volume increased 2% year-on-year versus Q4 2024. Net sales also included a 4% benefit from foreign exchange translation and a 2% reduction due to divestitures. Sales growth was primarily driven by aerospace coatings, protective and marine coatings, and architectural coatings in Mexico; meanwhile, market share gains in the industrial coatings segment offset declines in automotive refinish coatings and architectural coatings in Europe and the Middle East. Net sales of automotive OEM coatings rose 6%, marking the second consecutive quarter of growth exceeding industry averages. In aerospace coatings, both Q4 net sales and segment revenue hit new highs. In Q4 2025, adjusted diluted EPS was $1.51, while reported diluted EPS was $1.34. PPG’s business segments collectively achieved an 18% operating margin, down 40 basis points year-on-year—mainly attributable to margin improvements in industrial coatings and global architectural coatings, partially offset by a decline in the high-performance coatings segment. Net profit was $302 million, up 15-fold year-on-year. Adjusted net profit was $341 million, down 9.0% year-on-year.

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PPG Industries reported strong third-quarter results with EPS of $2.25 and revenue of $4.4 billion, surpassing analyst estimates. The company projected a positive FY 2026 EPS outlook of $7.90-$8.10.

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