BASF Profit Rises, Sales Drop on Currency Headwinds
By Nina Kienle
Germany's BASF posted higher first-quarter profit but lower sales due to strong adverse currency effects and slightly lower prices.
The chemical giant on Thursday reported net profit for the first three months of the year of 927 million euros ($1.08 billion) from 808 million euros in the prior-year period. The figure missed analysts' forecast of 1.03 billion euros, according to consensus estimates provided by the company.
Sales for the period declined by 3% to 16.02 billion euros, compared with analysts' estimated 15.88 billion euros.
"Currency effects, mainly the U.S. dollar and Chinese renminbi, had a negative influence on sales in all segments," BASF said.
Earnings before interest, taxes, depreciation, amortization and special items fell 5.6% to 2.36 billion euros.
Meanwhile, earnings before interest and taxes rose to 1.26 billion euros from 1.16 billion euros.
The Ludwigshafen-based company backed its outlook for the year.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
April 30, 2026 01:21 ET (05:21 GMT)
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