"Our balance sheet is strong, and we will remain disciplined in our approach to allocating capital to strengthen our company for the long-term and return cash to shareholders," said Peter R. Huntsman, President and CEO.
"With the solid second quarter performance and better visibility into the second half of the year, we are raising our full year 2024 guidance,”
said Chris Villavarayan, CEO and President.
"The pace of the global macroeconomic recovery has been slower than expected. We remain focused on working capital, reducing costs, and matching our operating rates to current demand," said Jim Fitterling, Chair and Chief Executive Officer.
“We saw a continuation of the dynamics of the first quarter, marked by positive volume momentum across most of our businesses. There was still pressure on prices,” said Dr. Markus Kamieth, Chairman of the Board of Executive Directors of BASF SE.
The results show revenue is up compared to Q2 last year, but on the half-year, revenue is flat, pushing the company towards the lower end of its year-end guidance.
Strong performance in the Paint Stores Group led the company's results, maintaining expectations, however the Consumer Brands Group continues to be impacted by lower DIY demand.
