BASF post slight Q1 earnings drop but beats forecast

By Thomson Reuters Apr 24, 2024 | 11:33 PM

BERLIN (Reuters) – Germany’s BASF said first-quarter adjusted earnings fell 5.3% compared with the same quarter last year, to 2.7 billion euros ($2.89 billion), but still came in above analysts’ consensus.

In a statement on Thursday, the German chemicals giant said quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-off items, was above the average analyst estimate of 2.57 billion, according to a consensus posted on the company’s website.

($1 = 0.9340 euros)

(Reporting by Patricia Weiss, Writing by Miranda Murray)