BASF Warns of Hitting Low End of Earnings Guidance on Profit Miss

Dow Jones

2024/10/30

By Helena Smolak

BASF warned it would reach the low end of its annual earnings outlook as it posted weaker-than-expected third-quarter profit and anticipated lower prices and volume growth in the last quarter.

The German chemical giant on Wednesday said it expects full-year earnings before interest and taxes, depreciation and amortization before special items--the company's preferred key metric--to reach the low end of its previously guided range of 8.0 billion euros to 8.6 billion euros, equivalent to $8.66 billion-$9.30 billion.

In the third quarter, its Ebitda before special items rose 5% to 1.62 billion euros but missed analysts' estimates of 1.67 billion euros, according to a company-compiled consensus.

The company posted third-quarter sales of 15.74 billion euros, up slightly from 15.73 billion euros the previous year. Analysts had expected sales of 15.48 billion euros.

BASF backed its 2024 free cash flow guidance, expected at between 0.1 billion euros and 0.6 billion euros.

The DAX-listed company said it is on track to achieve an annual cost reduction of more than 800 million euros, rising to more than 2.1 billion euros by the end of 2026.

Write to Helena Smolak at helena.smolak@wsj.com

(END) Dow Jones Newswires

October 30, 2024 02:06 ET (06:06 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Analysts had expected sales of 15.48 billion euros.BASF backed its 2024 free cash flow guidance, expected at between 0.1 billion euros and 0.6 billion euros.The DAX-listed company sai","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"BASFY":"BASF SE"},"translate_title":"巴斯夫警告称，由于利润未达预期，将触及盈利指引的低端","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BASFY":0.9},"content_text":"By Helena Smolak \n\n\n \n\n\n   BASF warned it would reach the low end of its annual earnings outlook as it posted weaker-than-expected third-quarter profit and anticipated lower prices and volume growth in the last quarter. \n\n\n  The German chemical giant on Wednesday said it expects full-year earnings before interest and taxes, depreciation and amortization before special items--the company's preferred key metric--to reach the low end of its previously guided range of 8.0 billion euros to 8.6 billion euros, equivalent to $8.66 billion-$9.30 billion. \n\n\n  In the third quarter, its Ebitda before special items rose 5% to 1.62 billion euros but missed analysts' estimates of 1.67 billion euros, according to a company-compiled consensus. \n\n\n  The company posted third-quarter sales of 15.74 billion euros, up slightly from 15.73 billion euros the previous year. 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