By Andrea FiguerasBASF said sales and earnings last year missed both the company's guidance and consensus expectations, dragged by write-downs and sales of lower-margin products. Sales were EUR68.90 billion, according to the preliminary figures, down from EUR87.33 billion in 2022. The company had previously guided for sales of between EUR73 billion and EUR76 billion, while analysts had forecast EUR70.58 billion. Earnings before interest and taxes before special items fell to EUR3.81 billion from EUR6.88 billion, the company said. This compared with its forecast range of EUR4.0 billion and EUR4.4 billion and analysts' consensus estimate of EUR3.93 billion.

Source: Wall Street Journal January 19, 2024 07:24 UTC