Petrochemical industry earnings in 2019 reflect a slower pace of global growth. Read more about the impact & then l… https://t.co/7BqqgwqGLA
IHS Markit Company Strategies and Performance Earnings Podcast
This is our first edition of the IHS Markit Company Strategies and Performance earnings podcast, where we aim to provide you with a flavour of the results coming out of the financial reporting season.
Lyn Tattum, VP, Global Chemical Market Information is joined by Ian Young from Chemical Week to discuss how 2019 has been shaping up to date for some of the leading companies, focusing specifically on BASF and LyondellBasell, and how some of the changes taking place at these companies are likely to impact their 2019 results.
As we move through 2019, some of the profit warnings we heard at the end of 2018 are proving to be accurate, notably for products linked to the automotive, electronics, and oil and gas markets.
Overall, first-quarter earnings were characterized by slowing demand growth, a sharp drop in oil prices, volatile currencies, and rising economic and trade risks—factors that put a damper on results and sentiment. But there were signs of improvement on the weak fourth quarter of 2018.
Looking ahead, our IHS Markit chief economist Nariman Behravesh projected a global growth slowdown from 3.2% in 2018 to 2.9% in 2019.
And although many companies forecast challenges for 2019 —including raw material inflation and demand softness in certain regions and end markets—some still expect earnings and sales to increase, but at a slower rate than last year.
Click to listen to the IHS Markit Company Strategies and Performance Earnings Podcast
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