BASF Signals Sales, Profit Beat on Chemical Demand Rebound
- German company joins peers benefiting from stronger pricing
- Crop-chemicals division remained a drag in the fourth quarter
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BASF SE, the world’s largest chemical company, posted better-than-expected preliminarily earnings for the fourth quarter amid a rebound in demand for plastics.
BASF sees adjusted earnings before interest and taxes rising to 1.1 billion euros ($1.3 billion) and sales climbing to 15.9 billion euros in the three months through December, the company said Wednesday. Both figures were higher than the year-earlier period and beat analysts’ estimates.