BASF Reports Lower Earnings, Maintains Full-Year Outlook

BASF reported a 15.5% decrease in second-quarter 2012 net profits compared with the year-ago period, to €1.2 billion ($1.5 billion) on sales up 5.5% year-on-year, to €19.5 billion. Adjusted earnings per share (EPS) declined almost 9%, to €1.60. Second-quarter operating income (Ebit) before special items rose 11%, to €2.5 billion. Sales volumes declined in BASF’s chemicals business but the company achieved growth in its agricultural solutions segment and its oil and gas segment following the resumption of crude oil production in Libya...

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