BASF 2Q Earnings, Sales Jump; Raises 2021 Targets
July 09 2021 - 10:05AM
Dow Jones News
By Mauro Orru
BASF SE said Friday that earnings and sales for the second
quarter surged amid higher prices and volumes, according to
preliminary figures, prompting the company to raise its targets for
the year.
The German chemicals company said that earnings before interest
and taxes for the quarter rose to 2.32 billion euros ($2.75
billion) from EUR59 million in the second quarter of 2020.
EBIT before special items for the period should amount to
EUR2.36 billion compared with EUR226 million last year, it
said.
Quarterly sales climbed to EUR19.75 billion from EUR12.68
billion.
BASF noted that average analyst estimates for second-quarter
EBIT, EBIT before special items and sales are below its own
preliminary figures.
At 1430 GMT, BASF shares traded 3.7% higher at EUR68.18.
BASF is raising its 2021 guidance, citing increased earnings
expectations in the chemicals and materials segments as the main
reason.
The group now expects 2021 sales between EUR74 billion and EUR77
billion instead of between EUR68 billion and EUR71 billion. EBIT
before special items should come in between EUR7 billion and EUR7.5
billion, rather than between EUR5 billion to EUR5.8 billion.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
July 09, 2021 10:50 ET (14:50 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
BASF (TG:BAS)
Historical Stock Chart
From Apr 2024 to May 2024
BASF (TG:BAS)
Historical Stock Chart
From May 2023 to May 2024