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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
BASF
BASF (BAS) investor relations material
BASF Q3 2026 (Media) earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 (Media) earnings summary28 Oct, 2026
Executive summary
Q3 sales rose 14.2% to €16.36bn; EBITDA before special items increased 14.9% to €1.643bn, with the margin steady at 10.0%.
Earnings increased across all core businesses; FY2026 EBITDA before special items guidance was raised to €7.4bn–€7.8bn.
Q3 free cash flow rose to €523m from €398m; disciplined capital allocation reduced net debt and continued share buybacks.
Financial highlights
Q3 EBIT was -€98m versus €232m, and net income was €155m versus €172m; adjusted EPS rose to €0.72 from €0.52.
9M sales increased 8.7% to €49.586bn; EBITDA before special items rose 16.8% to €6.448bn and EBIT before special items increased 27.9% to €3.595bn.
9M net income was €5.227bn; a €3.5bn after-tax gain from the Carlyle coatings transaction contributed to the result.
9M operating cash flow was €823m and free cash flow was -€1.0bn; Q3 operating cash flow was €1.096bn and free cash flow was €523m.
Outlook and guidance
FY2026 EBITDA before special items guidance rose to €7.4bn–€7.8bn from €6.9bn–€7.7bn; free cash flow guidance remains €1.5bn–€2.3bn.
CO₂ emissions guidance remains 17.2m–18.2m metric tons; planning assumptions include GDP growth of 2.5%, industrial production growth of 2.0% and chemical production growth of 1.8%.
2026 planning assumptions retain a €1.17 euro/dollar rate and $80/barrel average Brent price; geopolitical and global economic uncertainty remains a key risk.
FY2026 PP&E and intangible-asset payments are expected clearly below €3bn, versus the February forecast of €3.4bn; free cash flow guidance is unchanged.
Agricultural Solutions expects usual seasonal improvement in Q4 and said the prior-year Q4 performance can be repeated; year-end 2026 net debt is expected at ~€15bn.
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Latest events from BASF
- Q3 adjusted EBITDA grew 14.9%; FY2026 EBITDA guidance rose to €7.4–7.8bn.BAS
Q3 2026 - Q2 2026 EBITDA up 54%, sales and guidance higher, but free cash flow negative.BASQ2 2026 (Media)
- Q2 EBITDA before special items up 54%, sales and net income surged, 2026 guidance upgraded.BASQ2 2026
- Q3 2025 earnings and sales declined, but portfolio actions and share buybacks advanced.BASQ3 2025
- €7.7B coatings carve-out gives 40% retained stake and €5.8B cash, closing Q2 2026.BASM&A Announcement
- 2028 targets reaffirmed as portfolio optimization, cost savings, and innovation drive long-term growth.BASCMD 2025
- Lowered 2025 outlook follows declines in sales, earnings, and cash flow amid margin pressure.BASQ2 2025 (Media)
- Targets €12B in shareholder returns, €10–12B EBITDA, and accelerated green transformation by 2028.BASCMD 2024 Day 2
- Q1 2025: Stable sales, lower earnings and cash flow, but guidance and ratings unchanged.BASQ1 2025
Next BASF earnings date
CMD 202624 Nov, 2026
BASF
Next BASF earnings date
CMD 202624 Nov, 2026
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Frequently asked questions
Chemical Production Experts
BASF SE, short for Badische Anilin- und Soda-Fabrik, is a German multinational corporation and one of the largest chemical producers in the world. Founded in 1865, the company has played an instrumental role in shaping the global chemical industry. Today, BASF operates across various sectors with a portfolio ranging from chemicals, materials, and industrial solutions to surface technologies, nutrition, and care products.
Roots in the Textile Industry
The company's roots trace back to Mannheim, Germany, where it was founded by Friedrich Engelhorn to produce dyes for the growing textile industry. Today, with a global network of more than 390 production sites, BASF is one of the central players in global chemical synthesis, creating a variety of products that serve a multitude of industries. Over the years, the company has grown and diversified its product offerings and has made significant contributions to the chemical industry, including the development of the Haber-Bosch process, which enabled the large-scale synthesis of ammonia, a key component for fertilizers and explosives.
Versatile Use Cases
The chemical products produced by BASF are used in a vast array of applications. From producing chemicals that are essential for the construction industry to the creation of materials used in the automotive sector, BASF's influence is wide-reaching. The company also makes products used in pharmaceuticals, agriculture, and consumer goods. Notably, BASF is also one of the world’s leading suppliers of ingredients for the personal care industry. When it comes to companies using their products we find names such as Adidas and Linde. These two companies utilize BASF’s products in very different ways and act as an example of the variety of different applications for the company’s products.
Embracing Digitalization
In a bid to keep up with a rapidly digitizing world and continue to evolve with the times, BASF has been actively incorporating digital technologies into its operations. From digitalizing its production processes to using data analytics and artificial intelligence for decision-making and innovation, the company is using digital tools to further optimize its processes and continue to evolve.