BASF reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
BASF announced earnings per share of €1.36 on revenue of €16.75B. Analysts polled by anticipated EPS of €1.2 on revenue of €15.2B. That with comparison to EPS of €1.65 on revenue of €16.18B in the same period a year before. BASF had reported EPS of €0.63 on revenue of €14.69B in the previous quarter. Analysts are expecting EPS of €0.66 and revenue of €13.39B in the upcoming quarter.
BASF shares are down 48.42% from the beginning of the year , still down 36.61% from its 52 week high of €73.27 set on May 3, 2019. They are under-performing the FTSE 100 which is down 21.76% year to date.
BASF follows other major Basic Materials sector earnings this month
BASF's report follows an earnings beat by Covestro on Wednesday, who reported EPS of €0.11 on revenue of €2.78B, compared to forecasts EPS of €0.08 on revenue of €2.81B.
Krones AG had beat expectations on Wednesday with first quarter EPS of €1.24 on revenue of €942M, compared to forecast for EPS of €1.1 on revenue of €938.75M.
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