BASF says Q1 operating profit down 6% on petrochemicals [Reuters]
BASF SE S/ADR (BASFY)
NASDAQ:AMEX Investor Relations:
basf.com/en/company/investor-relations.html
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Source: Reuters
BASF says first-quarter operating profit down 6% on petrochemicals FRANKFURT (Reuters) - Germany’s BASF ( BASFn.DE ) said on Thursday first-quarter operating earnings fell 6% as demand for basic petrochemicals was dragged lower by the fallout from the coronavirus pandemic. Adjusted earnings before interest and taxes slipped to 1.6 billion euros ($1.74 billion), beating average analysts’ projections of 1.47 billion, according to a consensus posted on the group’s website. Late on Wednesday, the company withdrew its outlook for 2020, saying it was impossible to estimate the duration and severity of the coronavirus pandemic. But management stood by an earlier proposal to pay a dividend of 3.30 euros per share for 2019.
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