Higher prices contributed 12 percentage points to growth, while volume increased 2%.

EBITDA before special items rose 15% to €1.6 billion, compared with €1.4 billion a year earlier.

"The strong year-to-date performance of our core businesses gives us confidence to narrow our forecast range for EBITDA before special items upward," said Markus Kamieth, chairman of BASF's Board of Executive Directors.

BASF now expects full-year EBITDA before special items between €7.4 billion and €7.8 billion, compared with its previous forecast of €6.9 billion to €7.7 billion.

Prices and Volumes Drive Sales Growth

BASF reported higher prices in its Chemicals, Materials, Surface Technologies and Industrial Solutions segments.

Prices also improved slightly in Nutrition & Care, while Agricultural Solutions recorded slightly lower prices.

Volumes increased substantially in Chemicals and Nutrition & Care.

Industrial Solutions, Materials and Surface Technologies recorded slight volume growth, while Agricultural Solutions reported a significant decline.

Positive currency effects also contributed to sales growth, particularly involving the U.S. dollar and Chinese renminbi.

For coatings manufacturers, Industrial Solutions is among the most relevant BASF businesses because it includes performance chemicals and other specialty materials used in formulated products.

The segment reported higher earnings during the quarter, supported by improved pricing and slightly higher volumes.

Restructuring and Special Items Affect Reported Results

Although EBITDA before special items increased, reported financial results reflected significant expenses.

BASF recorded EBITDA of €1.2 billion, unchanged from the prior-year quarter.

Special items totaled negative €437 million.

The company attributed these charges primarily to restructuring expenses at its Ludwigshafen site and a settlement of a legal dispute in the Care Chemicals division.

Earnings before interest and taxes (EBIT) were negative €98 million, compared with positive €232 million a year earlier.

Depreciation and amortization totaled €1.3 billion, up from €976 million.

The figure included a €318 million impairment in the Monomers division.

Net income was €155 million, compared with €172 million in the third quarter of 2025.

Earnings per share decreased to €0.18 from €0.19, while adjusted earnings per share increased to €0.72 from €0.52.

Cash Flow and Raw-Material Costs

Cash flow from operating activities declined to €1.1 billion, down €275 million from the prior-year quarter.

BASF said higher raw-material prices contributed to increased inventories.

Approximately €507 million in cash was tied up in inventories during the quarter, compared with €6 million released in the prior-year period.

Free cash flow increased to €523 million from €398 million.

The company attributed part of the improvement in investing cash flows to proceeds from the disposal of shares in Harbour Energy and lower capital spending, particularly at its Zhanjiang, China, Verbund site.

Updated Full-Year Guidance

BASF maintained its forecast for free cash flow between €1.5 billion and €2.3 billion.

The company also maintained its projected carbon dioxide emissions range of 17.2 million to 18.2 million metric tons.

Its macroeconomic assumptions for the year include global GDP growth of 2.5%, industrial production growth of 2.0%, chemical production growth of 1.8%, an average exchange rate of $1.17 per euro and an average Brent crude oil price of $80 per barrel.

The company cautioned that geopolitical and global economic uncertainty remains significant.

BASF's financial results follow the separation of its former coatings business, now operating as Surventis. The current results should therefore be considered in the context of BASF's remaining chemical operations rather than its former automotive OEM and refinish coatings businesses.

BASF's higher selling prices and stronger Industrial Solutions performance provide indicators of specialty chemical demand and raw-material cost pressure affecting coatings manufacturers. Follow further developments in coating resins and polymers.