OTC BASF $BASFY Stock Resurrection Cross and Downtrend Channel Breakout

  • Post category:Stock Trading
  • Reading time:3 mins read
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BASF $BASFY stock confirmed a Resurrection Cross on December 27, 2022. The stock formed a downtrend channel breakout on January 3, 2023. The stock is in a technical strong uptrend.

BASF SE ADR stock chart on January 3 2023 with a Resurrection Cross and positive money flow and a MACD buy signal
BASF SE ADR stock chart on January 3 2023 with a Resurrection Cross and positive money flow and a MACD buy signal

At BASF is headquartered in Ludwigshafen, Germany, and its stock trades on the OTCQX market. They create chemistry for a sustainable future. They have around 111,000 employees that contribute to the success of their customers in nearly all sectors and almost every country in the world. BASF’s portfolio is divided into the Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions segments. BASF generated sales of 78.6 billion euros in 2021.

BASF Group Q3 2022 Financials

On October 26, 2022, BASF reported Q3 2022 financials. The company achieved solid EBIT before special items despite continued high raw materials and energy prices

Q3 2022 Highlights:

  • Sales of €21.9 billion up 12 percent over prior-year quarter
  • EBIT before special items of €1.3 billion down by €517 million versus prior-year quarter
  • Earnings improve considerably in downstream segments, decline significantly in Chemicals and Materials segments
  • Cash flows from operating activities increased to €2.3 billion compared with €1.9 billion in the third quarter of 2021
  • Unchanged outlook for 2022: Expected sales of between €86 billion and €89 billion, EBIT before special items of between €6.8 billion and €7.2 billion

“Despite the continued high raw materials and energy prices, BASF achieved solid earnings in the third quarter,” said Dr. Martin Brudermüller, Chairman of the Board of Executive Directors of BASF SE, presenting the results for the third quarter of 2022 together with Chief Financial Officer Dr. Hans-Ulrich Engel.

BASF In 4 Minutes

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