BASF Issues Profit Warning on Falling MDI and TDI Prices; Trimming FVE to EUR 74
After European markets closed Dec. 7, BASF announced it was lowering 2018 guidance due mainly to weakening isocyanate markets, specifically falling prices for methylenediphenyl diisocyanate and toluene diisocyanate prices. The ADR price fell 6.5% in response. BASF now expects 2018 EBIT to fall 15%-20% over 2017 compared with previous guidance for a slight decline up to 10%. We were forecasting a 10% decline. In addition to weakening isocyanate markets, BASF cited lower cracker margins, increasin...BASF is a chemical company based in Germany. Co. conducts its operations through five reportable segments: Chemicals, which comprises the Petrochemicals, Monomers and Intermediates divisions; Performance Products, which consists of the Dispersions & Pigments, Care Chemicals, Nutrition & Health and Performance Chemicals divisions; Functional Materials & Solutions, which comprises the Catalysts, Construction Chemicals, Coatings and Performance Materials divisions; Agricultural Solutions, which comprises the Crop Protection division; and Oil & Gas, which is composed of the Oil & Gas division.
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