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BASF profit misses consensus by 27.1% in Q1

BASF SE said its first-quarter normalized net income came to €1.11 per share, compared with the S&P Capital IQ consensus estimate of €1.52 per share.

EPS decreased 12.1% year over year from €1.26.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €1.02 billion, a decline of 12.3% from €1.16 billion in the prior-year period.

The normalized profit margin dropped to 5.1% from 6.0% in the year-earlier period.

Total revenue rose year over year to €20.07 billion from €19.51 billion, and total operating expenses grew year over year to €18.19 billion from €17.50 billion.

Reported net income declined 19.8% year over year to €1.17 billion, or €1.28 per share, from €1.46 billion, or €1.59 per share.