BASF raises 2026 earnings guidance again after 15% rise in third-quarter Ebitda

Third-quarter results

BASF reported on Wednesday, 28 October 2026 that adjusted operating profit (Ebitda) rose 15% to 1.64 billion euros in the third quarter, compared with 1.43 billion euros in the same period a year earlier. That figure topped the analyst average of 1.495 billion euros. The company said the increase came mainly from its core business, helped by higher prices and slightly larger volumes. Revenue grew 14.2% to 16.36 billion euros. Net profit attributable to shareholders fell almost 10% to 155 million euros, partly because of restructuring costs. Free cash flow for the full year is still expected to land between 1.5 and 2.3 billion euros, compared with about 1.3 billion euros in the previous year.

Prior-year quarter1.43

Analyst average1.495

Q3 20261.64

Prior-year quarter

1.43 billion euros

Analyst average

1.495 billion euros

Q3 2026

1.64 billion euros

Data from the article text

Guidance raised for a second time

BASF now targets adjusted Ebitda of 7.4 to 7.8 billion euros for 2026, up from the earlier range of 6.9 to 7.7 billion euros. It is the second increase this year, after the group had already lifted its target in the summer. The new range brackets the 7.6 billion euro average that analysts had expected for the current year. The prior year came in at 6.6 billion euros. Chief executive Markus Kamieth tied the decision to the core businesses.

“The strong development of our core businesses since the start of the year gives us the confidence to specify the forecast and raise it.”

Iran war and Asian rivals

Handelsblatt reports that BASF continues to benefit from the effects of the Iran war. Chemical makers in China, Japan and South Korea depend on raw materials from the Middle East, and many suffered production interruptions after the Strait of Hormuz supply route was blocked. Customer demand has shifted toward European producers, which allowed BASF to raise prices in some areas. Bloomberg describes the higher prices and volumes as having cushioned the company from competition in China. Energy prices remain high for German chemicals, and BASF is still running its group restructuring, savings programmes and job cuts.

Evonik takeover bid

Talks over Essen-based specialty chemicals group Evonik became public at the end of September. People familiar with the negotiations say BASF has raised its offer to 24 euros a share, valuing Evonik at just over 11 billion euros. Evonik's board had turned down an earlier offer, and the higher bid is meant to bring it back to the negotiating table. Kamieth presents the combination as a "strong German response to global competition" and has promised to avoid operational layoffs until 2032. The revised offer is the latest step in the takeover contest.