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

On February 6, Honeywell announced its full-year 2024 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 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 split into three independent, publicly traded companies: Automation, Aerospace, and Advanced Materials. Chemours On February 18, Chemours Company released its 2024 fiscal-year 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. Furthermore, the financial report 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 this primarily to adverse conditions across global petrochemical markets in 2024—including weak global demand, rising raw material costs, and economic uncertainty. Broadly soft demand for durable goods pressured margins across its Olefins & Polyolefins and Intermediates & Derivatives segments. Meanwhile, recovery in margins for its Advanced Polymer Solutions segment was constrained by declining global automobile production. For comparisons with the prior quarter (Q4 2023) and full-year 2023, please refer to 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 2024 fiscal-year 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; cash flow from operations 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) totaled ₩48.9161 trillion, down 11.46% year-on-year; operating profit amounted to ₩916.8 billion, down 63.75% year-on-year.

Global Chemical Companies’ Top 20 Revenue Rankings for 2025

Ecolab announced its fiscal 2025 fourth-quarter and full-year results. Net sales for Q4 were $4.196 billion, up 5% year-on-year from $4.005 billion. Operating profit for the quarter was $712 million, up 22% from $583 million in the prior-year period. Net income attributable to the company was $564 million, up 19% from $473 million a year earlier. Full-year net sales totaled $16.081 billion, up 2% from $15.741 billion in 2024. Full-year operating profit was $2.738 billion, down 2% from $2.802 billion in 2024. Full-year net income attributable to the company was $2.076 billion, down 2% from $2.112 billion in 2024. Westlake Corporation announced its fiscal 2025 fourth-quarter and full-year results. Net sales for Q4 were $2.533 billion, down from $2.843 billion in the prior-year period. Net loss attributable to the company for the quarter was $544 million, improved from a $782 million net loss a year earlier. Full-year net sales totaled $11.17 billion, down from $12.142 billion in 2024. Full-year net loss attributable to the company was $1.508 billion, compared to net income of $602 million in 2024. International Flavors & Fragrances Inc. (IFF) announced its fiscal 2025 fourth-quarter and full-year results. Net sales for Q4 were $2.589 billion, down 7% year-on-year from $2.771 billion. Operating profit for the quarter was $97 million, down 24% from $127 million a year earlier. Net income attributable to shareholders was $18 million, versus a $60 million net loss in the prior-year period. Full-year net sales totaled $10.89 billion, down 5% from $11.184 billion in 2024. Full-year operating loss was $382 million, compared to operating income of $766 million in 2024. Full-year net loss attributable to shareholders was $374 million, versus net income of $263 million in 2024. Celanese announced its fiscal 2025 fourth-quarter and full-year results. Net sales for Q4 were $2.204 billion, down from $2.358 billion in the prior-year period. Operating profit for the quarter was $93 million, versus an operating loss of $1.419 billion a year earlier. Net income was $22 million, versus a net loss of $1.922 billion in the prior-year period. Full-year net sales totaled $9.544 billion, down from $10.268 billion in 2024. Full-year operating loss was $786 million, versus an operating loss of $720 million in 2024. Full-year net loss was $1.151 billion, versus a net loss of $1.534 billion in 2024. Eastman Chemical Company announced its fiscal 2025 fourth-quarter and full-year results. Q4 sales were $1.973 billion, down from $2.245 billion in the prior-year period. Net income attributable to the company for the quarter was $105 million, down from $330 million a year earlier. Full-year sales totaled $8.752 billion, down from $9.382 billion in 2024. Full-year net income attributable to the company was $474 million, down from $905 million in 2024.

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RBC reduced Eastman Chemical's price target to $69 citing Q1 2026 earnings declines, though maintaining a Sector Perform rating amidst recent Arkema asset acquisitions.

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