BASF's Quarterly Results Up on High Demand and Capacity Utilization Rates

 BASF says demand and capacity utilization rates remained high in the third quarter, and "there was hardly any sign of the usual seasonal slowdown." Net income rose to €1.2 billion from €200 million, helped by a lower tax rate. Earnings were €1.52/share before special items, below consensus estimates of €1.58/share, as reported by Vara Research. Sales jumped 23%, to €15.8 billion, and operating income before special items increased 77%, to €2.2 billion. BASF also announced it raised its full-year 2010 sales estimates...

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