October 26, 2018 / 5:12 AM / a month ago

BASF Q3 operating profit down on lower petrochemical margins

FRANKFURT, Oct 26 (Reuters) - BASF saw adjusted operating profit decline 14 percent in the third quarter on lower margins of basic petrochemicals that go into products such as insulation foams.

Third-quarter earnings before interest and tax (EBIT), adjusted for one-offs, fell to 1.5 billion euros ($1.70 billion), the German chemicals giant said on Friday, below average market estimates of 1.56 billion euros.

The company reiterated its guidance for a slight decline in EBIT before special items from the 2017 figure of 7.6 billion euros. ($1 = 0.8799 euros) (Reporting by Ludwig Burger; Editing by Maria Sheahan)

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