Dow and BASF Report Lower Q1 Sales

April 29, 2024
Companies remain optimistic with signs of recovery in several markets.

Despite reporting lower sales, Dow and BASF said their first-quarter results indicate a potential rebound in the chemical sector.

For BASF, sales fell €2.4 billion ($2.6 billion) to €17.6 billion ($18.9 billion) in the quarter.

This decline was mainly driven by a significant drop in raw-materials and energy prices in most segments in addition to lower precious metals prices in the surface technologies market, the company said in an earnings statement.

Negative currency effects, largely relating to the Chinese renminbi and the U.S. dollar also impacted sales performance in the chemicals segment, the company said.

About the Author

Jonathan Katz | Executive Editor

Jonathan Katz, executive editor, brings nearly two decades of experience as a B2B journalist to Chemical Processing magazine. He has expertise on a wide range of industrial topics. Jon previously served as the managing editor for IndustryWeek magazine and, most recently, as a freelance writer specializing in content marketing for the manufacturing sector.

His knowledge areas include industrial safety, environmental compliance/sustainability, lean manufacturing/continuous improvement, Industry 4.0/automation and many other topics of interest to the Chemical Processing audience.

When he’s not working, Jon enjoys fishing, hiking and music, including a small but growing vinyl collection.

Jon resides in the Cleveland, Ohio, area.

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