Issue 21, 2022 - Chemical giant's Q3 results at a glance

BASF's Group sales in the third quarter were €21.
9 billion, up 12 percent year-on-year.
EBIT before special items decreased by EUR 517 million to EUR 1.
3 billion, earnings in the Downstream segment increased significantly while earnings in the Chemicals & Materials segment declined significantly, and cash flow from operating activities increased by EUR 2.
3 billion (Q3 2021: EUR 1.
9 billion).

Dow Co.
(Dow) net sales of $14.
1 billion in the third quarter, down 5% year-over-year; Sales volume decreased 4% year-over-year and 3% sequentially.
GAAP net income was $760 million, operating EBIT was $1.
2 billion, compared to $2.
9 billion in the year-ago quarter, cash from operating activities (i.
e.
, going concern) was $1.
9 billion, down $779 million or up $84 million sequentially, and free cash flow was $1.
5 billion
.

Wacker Group sales rose 29 percent to €2.
13 billion in the third quarter.
EBITDA of €457 million, up 2 percent year-on-year against the backdrop of surging energy and raw material prices; Net income for the period was €259 million, while net cash flow declined to €296 million
due to higher working capital and higher capital expenditures.

Clariant's continuing operations sales increased 27% in local currency to CHF 1,312 million in the third quarter; EBITDA increased to CHF 220 million, corresponding to a margin of 16.
8%, up from 15.
5%
reported in the third quarter of last year.

Covestro sales in the third quarter increased by 7.
3% year-on-year to 4.
6 billion euros; EBITDA decreased by 65.
0 percent to EUR 302 million; net profit decreased by 97.
5% to EUR 12 million; Free operating cash flow (FOCF) decreased by 91.
3% to EUR
33 million.

LG Energy Energy's sales in the third quarter were 7.
648 trillion won, up 50.
8% sequentially and 89.
9% year-on-year, the highest quarterly record ever; Revenue and profit increased 166.
8% sequentially to KRW 522 billion, also the highest on record
outside the second quarter of 2021.

Corning had third-quarter sales of $3.
5 billion; Core sales of $3.
7 billion; Earnings per share were $0.
24; core earnings per share were $0.
51; core gross margin and core operating margin were 36.
1% and 16.
9%, respectively; Free cash flow was $255 million
.

PPG's third-quarter net sales were $4.
5 billion, up approximately 8% in constant currency; Organic sales growth of more than 9%, driven by higher selling prices, a two-year cumulative increase of 18%; Diluted earnings per share from continuing operations were $1.
39 and adjusted diluted earnings per share were $1.
66
.

Kemira In the third quarter, Kemira's operating income rose 40% to a record high of €971.
9 million; operating EBITDA rose 32% to €152.
5 million; and operating EBITDA fell to 15.
7%; EBITDA up 25 percent to EUR 137.
3 million, operating EBIT up 54 percent to EUR 99.
5 million.
EBIT up 50% to EUR 84.
5 million; Cash flow from operating activities amounted to EUR 114.
8 million, and diluted earnings per share rose 53% to EUR
0.
38.

Syngenta Group revenue increased 20% year-over-year to $7.
9 billion in the third quarter; EBITDA increased 24% year-over-year to $1.
0 billion, primarily due to higher sales revenue for innovative products and services, higher volumes and product price adjustments
to offset higher costs.

Eastman Third-quarter sales revenue of $2.
709 billion, excluding rubber additives and adhesive resin product line divestitures and foreign currency exchange rates, third-quarter revenue increased 13% year-over-year; EBIT was $324 million, adjusted EBIT was $333 million, net cash flow from operating activities was $256 million, and selling prices increased by double digits, consisting of a 16% increase in the Specialty Materials business, a 16% increase in the Additives and Functional Materials business, a 14% increase in the Chemical Intermediates business, and a 16%
increase in the Fibers business.