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you have your forecast of Specialties adjusted EBITDA for 2026 which you put in a range of $170,000,000 to $230,000,000 versus 2025. What is behind that decrease?
Can you comment on how much Chinese lithium capacity you think was closed down from about the 2025 today, because of various actions?
You used the $9 price as a reference point. In China today, are we closer to $10 or $11
Are you giving any consideration to starting up any of your plants where you've paused production
is the meaning of this slide that you're -- if there were no change in lithium prices today, the energy storage adjusted EBITDA would be between $0.6 billion and $0.7 billion?
aren't spodumene prices already below that? And you say you assume full Talison sales volumes. Are you currently receiving full Talison sales volumes?
I would imagine that your inventories have to be relatively higher over the next several quarters. So as a base case, should we also expect some kind of free cash flow penalty
Is the conclusion that we should draw from slide six it is it that the non-core businesses have very minimal EBIT
In your raw material cost savings, were they largely in the United States or in Europe
Is it possible that, that project could be downsized? In other words, does it make sense to make half as much ammonia
If we excluded helium, what would your prices have been? Would they have been up 1%, 2% for the company as a whole?
it looks like there was some kind of sale of equipment cost overrun. How much was that?
Is Air Products receiving income from -- or full income from Gulf Coast ammonia? And how much did you invest in that project?
because the cost overruns have been so high, why don't you simply stop the project? Or what impedes you from stopping it?
could it be that those 2 events would be linked, that is you would sell the carbon capture piece to a party, and then work with them to provide them hydrogen or hydrogen and ammonia?
If you took out the drag from helium, how much would your average prices have been up?
is the dissociation characteristics different? And do you have to build an infrastructure in Europe in order to fulfill the Total contract in 2030?
how much hydrogen you need, and why you need it, and why you want to go forward with that part of the project?
Does that mean that these employees or the cost of these employees were mainly capitalized?
From the outsized sale, what was the benefit from that?
can you talk about the overall helium market and what's happening with pricing? Is it different in the different geographic jurisdiction?
When you listen or look at the activist approach to Air Products, how do you reflect on it? Is it something that leads you to change your behavior in any way
does this fully loading NEOM mean that it would be fully loaded for 2027, or does it mean that it would be fully loaded for 2030?
You are estimating flat earnings per share in the second quarter relative to the first quarter. Normally, the second quarter is seasonally stronger.
Since you signed your agreement with Walmart, have you had more inquiries from other sellers of grocery items?
Different RFID tags have different prices. In that, you know, apparel tags, you know, tend to be priced higher than logistics tags. Where do tags on Meet fall?
there was, a phrase about joint sensor technology. Is there something about technology that you're using with Walmart that's really unique
Your graphics and reflective volumes has been up high single digits for the first 2 quarters of the year. Do you expect a continuation in that trend?
Is this mostly a China event? Or does it have to do with other Asian countries? That is do you see it more as a tariff event rather than an economic event?
In the quarter in Intelligent Labels, how did the general retail category do?
Can you talk about raw material cost inflation or deflation for 2025?
Natural gas prices in Europe have sharply elevated. Is this something that you can easily pass through in the coming 6 months
Are you experiencing any inflation in beverage can coatings? Or is that raw material relatively flat for you
What is ORG Technology? And why do you own it? And what exactly do you own
Your inventories year-over-year are up around $500 million. I take it that's higher aluminum costs. Should your inventories continue to rise into the fourth quarter
Can you talk about your rates of volume change in consumer soft drinks and beer in the different geographies and in the aggregate
should it jump because the incremental costs that you're feeling seem to be more transitory
your inventories jumped from the fourth quarter to the first quarter by about 10%. Is that just a seasonal number
I think in capital expenditures in the quarter you spent $80 million. Can you get all the way to $600 million
do you expect new U.S. plants to be steam methane reformers again rather than autothermal reactors, or is it too difficult to tell?
Have the contractual terms for ammonia with industrial customers changed over time, and is there room to make those terms more attractive to producers
these are tax credits. When does the cash come in? And how do you account for it?
Can you talk about the theoretical relationship between the amount of ammonia made and the amount of CO2 captured?
Was the quarter in some ways, unusually profitable in that sequentially, your gas costs were up maybe $1.25 per MMBtu?
in terms of your capital expenditures that are actually your own what might they be in 2026 or '27 ballpark exclusive of the monies that would come from
where is the carbon dioxide going to be stored for Donaldsonville exactly? And who's going to store it?
how is it that you can sequester carbon dioxide sometime in 2025 or by sequester, do you mean enhanced oil recovery
Is it the case that for North American companies sort of a more peaceful globe is negative for profits and profitability
corn volumes were up 7% and soybeans were down. But all things being equal, soybean acres should be up this year
you plan to contribute $1.5 billion to your pension plan, which comes out of cash flow from operations
your SG&A and R&D really jumped. SG&A went from $735 million to $860 million, up about $125 million
I'm wondering about how do you see the effect of price pressure in chemicals like Rynaxypyr affecting your Spinosyns
What are you doing different in terms of sourcing and in terms of shipping?
What percentage of corn hybrids that you sell in the US are imported from other countries and is that a source of tariff penalty?
there's probably some opportunity to prune the portfolio on the edges, but if you can talk about any opportunities you're seeing there would be great
The export price of polyethylene from Houston today is about $1,775 a ton FOB, but the delivered price to Asia for polyethylene is less than $1,300 a ton. Can you describe what is going on
excluding that, cash flow from operations is $300 million. What are your expectations for 2026
One of the things that Dow hasn't really talked about is joint venturing the Alberta cracker. Why wouldn't that make sense
if there's no improvement in the operating environment through the first half of 2026, is that project off the table?
On slide 15, you say that your expected corporate expense for the year is $3.20? And I think your corporate expense was $33 million in the first quarter
Do you really want to add that or is your plan to close down your European assets so that there's no net addition?
you said that CoolIT is growing a lot faster than 30%. Is it growing 50% or 70% or 60%? Or can you quantify that?
Is Ovivo roughly $500 million in sales, maybe growing to $550?
In the Water business this quarter, did volume grow? And in Basic Industries and Paper, was volume growth negative high single digits?
your overall price for the company was 2%, but it seems that it was lower in Water. So is the challenge for the second half to get better pricing in the Water division?
Your Global Water business year-over-year was down a little bit in operating income, in the quarter. Why was that?
does that include the drop in amortization, or is your EBIT target really 21% and it doesn't take that into account?
dropped off pretty sharply in the fourth quarter. And I think you said that the price trends are negative
In your commentary, you say that your currencies will be negative year-over-year. The euro is flat for the first half and maybe it's 8% or 9% stronger for the second
Is the Food Ingredients business more strategic than it used to be in that, my impression is that this might be an asset that could be separated from IFF
should volume of 2% year-over-year move up to, I don't know, 3 or more in the second quarter and are there also pricing opportunities
your other income in the quarter was $63 million versus $26 million a year ago. What happened there?
Manufacturing PMIs in The US went from negative to positive. Is that something that your business can perceive?
if half of the penalty is helium, maybe that's $15 million. And in your other segment, you're losing about $15 million
Both you and Air Products had very strong EBIT growth in Europe. I think for both of you, it was double digits, which was a step-up
In 2024 your other income was $200 million, sort of a positive change of about $234 million
In 2024, your cash flow from operations was up 1%, even though your EPS grew about 10%. Was that a depressed number?
naphtha values in Asia have really jumped from about $600 a ton to $1,100 a ton, but we really haven't seen that kind of raw material inflation echoed or covered in the polyethylene prices
Do those need to be built back up in 2026? And what do you think your working capital benefit or use will be in 2026
Are there any growth projects that are left in the capital budget for next year? And if there are, which ones
Your cash flow from operations for the first 6 months was a deficit of a little less than $230 million. And last year in the first half, I think you generated $1.2 billion in cash flow from operations
If those five assets are gone, does that really change your European EBITDA? And if it does, to what level does it take it
Has this gain of dividend increases for Lyondell come to an end? Or are dividends looking like they could increase in 2025
Why are the ammonia values as high as they are? And then secondly in sulfur. Do we know how much sulfur are on ships that are behind -- that are currently blocked
Where does your ARO and environmental reserves cash spend come through
Can you talk about how tariffs have raised the cost of imports of phosphates into the United States on some kind of percentage or per tonne basis
In the light of tariffs of material into the United States, are your ammonia costs rising? Or are there ways that you can work to keep them under better control
Your cash flows in the fourth quarter and for the year-end 2024 were quite low. In that your EBITDA was almost $600 million
what was the currency benefit to EBIT year-over-year? And you speak about getting ahead of raw material cost inflation, but you do sell to the auto OEM industry
in order to meet that guidance, Refinish has to contract at a high single-digit rate or a mid to high single-digit rate. Is that the correct conclusion to draw?
is the conclusion that should be drawn is that your annual capital expenditures are going to stay around $700 million or $650 million over the next couple of years
cash flow from operations was $370 million or so for the first couple of quarters. And last year, you did $1.4 billion. Do you expect cash flow from operations this year to be the same as last year...
In your Protective and Marine business, roughly how much is Protective and how much is Marine? And do any of the issues having to do with China shipbuilding affect that business for you?
Is it fair to say that your architectural paint price increase happened at the very beginning of the year
Your residential repaint sales were up low single digits, but your prices were probably up higher than that?
Where do you think those rates need to go to really catalyze demand in the Paint Stores Group?
you have talked about there being an inflection point for the stores business. So once in a career opportunity, following the divestiture is that because of the opportunities of the PPG architectur...
Do you have a general assessment of the inflation of building costs and whether that will make a difference, are higher mortgage rates making a difference to the building market?
Some building products companies have talked about adverse weather and certainly it's been cold.