BASF : Q3 EBIT bsi 3% better on upstream, outlook raised to consensus at mid-point
>EBIT bsi 3% ahead of consensus on better upstream, reallocation of bonus accruals may confuse on weaker segments/pushed ‘other’ - BASF reported Q3 sales up 42% y-o-y at € 19,669m in Q3 2021 on 36% price appreciation primarily in upstream and 6% volume growth. Reported Q3 EBIT bsi of € 1,865m was 4/3% ahead of our/consensus forecast of € 1,795m/1,803m, tripling y-o-y but down 21% q-o-q vs € 2,355m in Q2 2021 on strong Ag seasonality and fuelled by both upstream segm...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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