Sales declined by an expected 25% in the second quarter of 2023. This was mainly driven by considerably lower prices and volumes; negative currency effects also contributed to the sales decline, the company said in a statement. EBIT before special items declined 57% compared with the strong prior-year quarter, BASF said. Net income reached an expected EUR 499M, below the figure in the prior-year quarter.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on BASFY:
- BASF price target lowered to EUR 40 from EUR 43 at UBS
- BASF and Yara to evaluate low-carbon blue ammonia project at U.S. Gulf Coast
- BASF, Yara to evaluate low-carbon blue ammonia project at Gulf Coast
- BASF price target lowered to EUR 54 from EUR 60 at Deutsche Bank
- BASF downgraded to Hold from Buy at HSBC