BASF (BAS) Q3 2026 (Media) earnings summary

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.