Industry . . . Dow, BASF and other chemical giants in the first quarter of the results of fresh!

recently, chemical giants have announced first-quarter results, affected by the global new crown pneumonia outbreak, oil price war and other multiple impacts, the overall situation of the industry is not in the minority, the performance of the decline in the company is not in the minorityHowever, the high sentiment in some segments of the giants' first-quarter results is evidentAmong them, with disinfection, personal protection products related to the chemical sector growth is obviousdowsales fell 11 percentDow reported net sales of $9.8 billion for the first quarter of 2020 on April 30, down 11 percent from the same period last year, mainly due to lower local prices in all business segments as a result of falling global energy pricesSales fell 2 per cent compared to the same period last year, while hydrocarbons and energy businesses fell 1 per centFood, health and sanitation packaging; But these growths were offset by lower demand for polyurethane and silicon-based products, including automotive and durable goodsIn addition, sales in China have generally declined as a result of the new coronavirus outbreak and the implementation of public health interventionsDow is taking immediate and additional positive steps to further strengthen its financial strengthThese actions include further cuts to capital expenditure targets to $1.25 billion, a decrease of $750 million from 2019, $350 million in operating expenses reductions, and the release of $500 million from working capitalIn addition, Dow temporarily idled some of its production units to regulate production to balance market demand affected by limited economic activityOperationally, ensure the availability of critical products that are critical to consumers and help contain global pandemics, such as hand sanitizers and materials for the production of personal protective equipmentBASF'ssales rose 7 per centrevenue fell 6 per centBASF reported first-quarter 2020 results on April 30, with first-quarter sales up 7 per cent from the same period in 2019 to 16.8 billion euros, helped by a 4% increase in salesEarnings before interest and tax excluding special items were EUR 1.6 billion, down 6% YoY, mainly due to a significant reduction in contributions from materials and chemicals and "other" business areasBASF predicts that the economic consequences of weak global demand and falling production will severely affect the company, especially as the automotive industry continues to shut downThe new crown outbreak will also affect customers in other industriesBASF therefore forecasts a significant decline in sales in the second quarter of 2020 and a slow recovery in the third and fourth quartersHowever, BASF said it was highly uncertain and unpredictable how the situation would evolveDuPont (DUPONT)revenue fell 3.6 percenta loss of $610 million
on May 5, DuPont reported a 3.6 percent drop in revenue to $5.2 billion from a year earlier, and a loss of $610 million, compared with a profit of $520 million a year earlierdouble-digit decline spree in April compared with the same period last yearDue to the impact of the new corona pneumonia outbreak, DuPont's demand for personal protective products increased, but also damaged the industrial chain, including the automotive industry, affecting DuPont's second-quarter revenue or hit the lowest full-year resultsEvonikEBITDA fell 5%net income fell 27%despite slowing economic growth caused by the spread of the global new crown epidemic, Evonik Industries group is still off to a solid start in 2020First-quarter sales of EUR 3.24 billion, down only 1% from the same period in 2019, EBITDA for the first quarter after eur 513 million, down 5% from the same period last year, net income of EUR 181 million, down 27% From the same period last year, and free cash flow of EUR 113 million, down EUR 46 million from the same period last year the main business segments: resource efficiency business was flat at 1.44 billion euros, and PeroxyChem, the Us.s maker of hydrogen peroxide and peroxyacetic acid, which was acquired in early February, benefited from its first-period consolidation active oxide products are generally well developed, including traditional applications and specialty products such as disinfectants crosslinking agent products are also developing well sales of paint additives, silicon dioxide for the tire industry and high-performance polymers declined slightly Nutrition and Chemicals business declined slightly by 1 per cent to EUR 1.13 billion, with a significant increase in demand for essential amino acids in the Animal Nutrition line and a sales increase at an almost stable price Pharmaceutical health lines also performed well in pharmaceuticals and food ingredients, with sales growth Functional Materials fell 9 percent to 472 million euros, while sales of functional intermediates declined due to weak demand, particularly in the automotive and oil sectors Covestro (COVESTRO) net profit fell 88.8% the first quarter of 2020, the outbreak of new crown pneumonia on all covetron business sector performance has a serious impact First-quarter sales totaled approximately EUR 2.8 billion, down 12.3% YoY; EBITDA was EUR 254 million, down 42.5% YoY; First Quarter Net Profit was EUR 20 Million, down 88.8% YoY; and Free Operating Cash Flow was negative EUR 249 million , sales of the polyurethane business segment's core business fell 3.6 percent year-on-year, mainly due to lower sales in the electronics, electrical and home appliance sands and automotive industries Sales in the polycarbonate business segment decreased 4.9% year-on-year as sales in the electronics, electrical and automotive industries declined significantly Sales of the core business of the coatings, adhesives and specialty chemicals segment decreased by 5.2% year-on-year, mainly due to weak demand for coating front-end raw materials in all major customer sectors, particularly in the automotive industry WACKER EBITDA increased by 23% WACKER Group achieved sales of EUR 1.20 billion in the first quarter of 2020, down 3% from the same period last year (Q1 2019: EUR 1,235.7 million), but increased by 4% over the previous quarter, and EBITDA rose to EUR 174 million due to increased utilization of production equipment, an increase of 23% over the same period last year, an increase of 10% over the previous quarter, and a slight decrease in sales of multicrystalline and standard silicone products for solar cells The main reasons for the significant increase in performance were increased utilization of production equipment and cost reduction measures taken by WACKER WACKER Group's ebit profit margin (EBIT) also increased significantly, achieving a profit margin of 5.8% in the reporting period of EUR 69.8 million (Q1 2019: EUR 100,000) BP's profits plunged by two-thirds
as current demand hit the economy, bp's first-quarter profit plunged by two-thirds and its debt soared Like many of its peers, BP slashed spending in the face of a 65 per cent drop in oil prices in the first quarter, cutting its 2020 budget by 25 per cent to about $12bn and reducing production in its US shale business BP expects refining margins to fall sharply in the second quarter, when global travel restrictions will peak, curbing consumption of gasoline, diesel and jet fuel "It is difficult to predict when the current supply-demand imbalance will be resolved and the final impact of the current situation is difficult to predict," BP said "
Eastman's sales revenue declined significantly
on May 6th Eastman Chemical announced its first quarter 2020 financial report, with a significant decline in sales revenue sales price decline is mainly due to the line of tire additives and adhesive resins in the chemical intermediates and additives, and functional materials business segments Although sales in the end markets of personal care and health care, water treatment, architectural coatings, agriculture and consumer goods increased However, sales declined due to weak demand in the transportation and textile terminal markets caused by the COVID-19 outbreak, which largely offset growth in other markets Clariant's sales fell 6 percent
on April 30, Clariant announced that sales of continuing operations in the first quarter of 2020 totalled SFr1.19 million Sales decreased by 6 per cent in local currency terms and 12 per cent in Swiss francs, driven by currency fluctuations, compared with CHF 1,164 million in the first quarter of 2019 Natural Resources sales rose 2 percent in local currency as sales of oil and mining services expanded in the first quarter of 2020 The significant weakness in the aviation business was significantly lower due to the particularly mild winter weather, with sales in the Care Chemicals business down 14 per cent in local currency terms In local currency terms, sales in the Catalyst segment decreased by 6%, partly due to the shift in forward sales from previous communications to the fourth quarter of 2019 was affected by changes in sales in the first quarter of 2020, with EBITDA for continuing operations down 14% in Swiss francs to 157 million Swiss francs In particular, the weak performance of the care chemicals, aviation business, and the weak profitability of catalysts due to lower sales and exchange rate impacts Nevertheless, EBITDA margin remained robust at 15.4% as a result of the rapid and effective implementation of cost controls, compared with 15.7% in the same period last year Exxon Mobil lost $610m exxon mobil reported its first quarterly loss in 30 years on April 30th, losing $610m in the quarter, taking into account $2.9bn in "market-related" charges The company made a profit of $2.4 billion a year earlier Most of the losses relate to the company's downstream operations, which refine oil into gasoline and other products cut its $10 billion capital spending plan for 2020 and a 30 percent budget as the global economy halted oil prices like never before ExxonMobil expects production to be cut by about 400,000 barrels per day in the second quarter as demand from the new corona outbreak shrinks, including about 100,000 barrels per day in Texas and New Mexico's Quail Basin But the company will continue to invest in projects that increase future oil production Exxon Mobil's oil production rose slightly this quarter, thanks to a 9 percent increase in production from two of its key projects: Guyana and Permian Basin, the largest U.S oil field PPG the new coronary pneumonia outbreak caused a loss of $225 million
on April 27, PPG reported first quarter 2020 financial results, net sales of about $3.377 billion, down about 7% year-on-year Sales prices rose by more than 1% Overall sales were down 8 percent from a year earlier, including a $225 million loss from the new coronary pneumonia outbreak, or about 6 percent Adverse foreign currency translation scored more than 2 per cent of net sales, or about $75 million, while acquisition-related sales (excluding divestitures) contributed about 2 per cent to sales growth First-quarter net profit fell 22 percent from a year earlier to $243 million, compared with $312 million a year earlier 's high-performance coatings business had net sales of about $2.08 billion in the first quarter, down nearly 5 percent from a year earlier Profit was $272 million, down about 8 percent from a year earlier Net sales of industrial coatings in the first quarter were about $1.369 billion, down nearly 10 percent from a year earlier AkzoNobel revenues rose 31 per cent AkzoNobel's latest first-quarter 2020 results showed adjusted operating income rose 31 per cent to 214 million euros (compared to 163 million euros for the same period in 2019) despite the new coronavirus pneumonia outbreak But sales fell 6% in the first quarter from a year earlier HuntSMAN outperformed expectations
on May 1, Huntsman reported first-quarter results of $1.593 billion, net income of $708 million, adjusted net income of $65 million and adjusted ebitda of $165 million Net cash for operating activities was $40 million in the first quarter of 2020 Free cash flow was $101 million in the first quarter of 2020 However, the polyurethane business's revenue declined in the first quarter, resulting in a slight decline in overall polyurethane sales due to lower MDI sales prices in China and Europe Huntsman reduced its unnecessary inventory ahead of schedule and reduced capital spending by 30 percent (about $90 million) this year by delaying discretionary spending At the same time, other measures were actively taken, including the suspension of share buybacks, as well as various cost-cutting measures, resulting in gains