BASF Posts Lower Q3 Profit

German company BASF SE

reported a drop in its Q3 after-tax profit. BASF's quarterly after-tax profit fell 21% y/y to 946 million euro ($1.23 billion). Its sales climbed 8% to EUR19.01 billion, versus analysts' estimates of EUR18.19 billion. BASF's earnings before interest and taxes rose 6.4% to EUR2 billion, while adjusted EBIT gained 5.4% to EUR2.07 billion. BASF shares closed at $81.02 yesterday.