BASF raises profit forecast again following price hikes during Iran war

German chemicals company BASF raised its 2026 earnings outlook for the second time this year on Wednesday, Euronews and Reuters reported. The company now expects a full-year core profit between 7.4 billion euros and 7.8 billion euros, which equals 8.2 billion dollars to 8.7 billion dollars. That figure is an increase from its previous forecast of 6.9 billion euros to 7.7 billion euros. [1][2]

The company hiked prices for some of its goods by up to 30 percent in March to handle surging energy and raw material costs triggered by the war against Iran, according to Euronews. BASF produces items ranging from automotive paints to sunscreen ingredients. Euronews reported that overall sales rose 14 percent, while third-quarter core profit increased 15 percent from the same period last year to 1.6 billion euros. [1]

BASF was historically responsible for major chemical industry developments, including synthetic indigo production in 1897 and early contributions to the Haber-Bosch process for ammonia synthesis. [6]