Mixed Results for BASF in 1Q; Shares Fairly Valued
Narrow-moat BASF eked out a 2% increase in EBIT in the first quarter compared with the prior-year period. This pales in comparison with the 58% increase recorded in the last quarter. Currency headwinds were a major drag on earnings. Results in the traditional chemicals businesses were mixed, while a recovery in the oil and gas market was the key contributor to the positive EBIT growth: EBIT in the oil and gas segment more than doubled over 2017. Agricultural solutions continued to struggle with ...
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