BASF pre-released Q2 results with EBITDA before special items exceeding analyst expectations. The chemical giant cited stronger prices and higher volumes across nearly all segments.
Alpha Score of 44 reflects weak overall profile with moderate momentum, poor value, moderate quality, moderate sentiment.
BASF pre-released second-quarter results on July 15, saying EBITDA before special items had beaten analyst expectations. On Tuesday, CEO Markus Kamieth and CFO Dirk Elvermann held a press conference to discuss the numbers.
Earnings rose in nearly all segments, Kamieth said. The improvement came from stronger prices and higher volumes. He also cited lower cash fixed costs as a contributor.
The chemical giant did not disclose exact figures on the call. The pre-release had indicated the beat was substantial. BASF has been cutting costs as part of a restructuring program, and those savings are showing up in the fixed-cost line.
BASF is the world's largest chemical company by sales. Its quarterly results are closely watched as a gauge for industrial demand. The press conference was opened by Stefanie Wettberg, head of investor relations, and conducted in German with simultaneous English translation. The presentation is available on BASF's website.
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