The performance data of global companies in the first quarter have attracted much attention. Recently, before the official announcement of the first quarter performance data, global companies have successively released relevant preliminary data. According to preliminary data and corporate results announced in advance, despite continued market volatility, including sharp rises in raw material prices, strong demand and higher selling prices drove both profit and sales revenue growth for chemical companies in the first quarter.

Global chemical giant BASF has released preliminary profit and sales forecast figures for the first quarter. BASF said its first-quarter earnings before interest and taxes (EBITDA) before special items are expected to be 2.8 billion euros, up 21 percent from a year earlier and significantly higher than analysts’ consensus forecast of 2.4 billion euros for all business units. EBITDA in the quarter all beat analysts' average estimates. The company expects first-quarter sales to rise 19 percent year-on-year to 23.1 billion euros, driven by higher selling prices and dollar-related currency effects, ahead of analysts' consensus forecast of 22 billion euros. BASF said the figures showed the company was "performing better" compared to the same period last year. However, BASF said its first-quarter net profit was expected to fall to 1.2 billion euros from 1.7 billion euros a year earlier, well below the consensus estimate of 1.8 billion euros. The loss mainly came from impairment of the upstream oil and gas joint venture of Wintershall Company, a subsidiary of the company, especially the impairment expenses of the Nord Stream 2 natural gas pipeline project in which the company participated.

The result was indeed higher than most analysts expected. London-based Jefferies analyst Chris Cunihan said BASF's preliminary results should be seen as a small positive given the course of the geopolitical situation in Europe, uncertainty about demand and higher 's energy prices may have a bigger impact at the end of the first quarter.

BASF is not the only one with optimistic performance. Construction chemicals maker Swiss company Sika reported first-quarter sales revenue rose 20 percent to 2.34 billion Swiss francs in the first quarter despite tough market conditions caused by shortages of raw materials and high inflation. Sika said the sharp increase in sales revenue reflected "strong momentum" in the construction industry. Thomas Hassler, CEO of Sika, said: "In the first quarter of the financial year, we faced a continued strong increase in raw material prices. In addition to the steady growth in volume, we were able to implement consistent price adjustments."

Switzerland's Givaudan AG, the world's leading flavor and fragrance company, said its first-quarter sales rose 6.4 percent year-on-year to 1.78 billion Swiss francs. Despite a challenging external environment, the company started the year well and maintained operations and global supply chain at a high level, the company said. Givaudan said the company will continue to raise prices to fully compensate for the increase in input costs.

U.S. specialty chemicals maker Ashland said on April 13 that it expects second-quarter sales to rise 19% year-on-year to $604 million, and net profit is expected to total $38 million, down 7.3% year-on-year. Adjusted earnings from continuing operations are expected to reach $86 million, or $1.50 per share, above analysts’ consensus estimate of $1.14 per share and roughly double the year-over-year increase. Continued strong demand, higher prices and an improved product mix boosted profit and sales in the quarter, the company said. Guillermo Novo, chairman and CEO of Ashland, said: "We expect underlying demand to remain strong and continue to act to build inventories to ease supply chain and transportation challenges. Pricing and other measures should be able to cover With the current cost increases, we are prepared to take further action to cover any additional cost increases. Due to the resiliency of our portfolio and the end markets we serve, despite the ongoing impact of the global pandemic, geopolitical conflicts and cost inflation, our fiscal year 's sales outlook and adjusted EBITDA remain unchanged."

Jefferies analyst Lawrence Alexander said Ashland's preliminary results were better than expected. "Demand trends are positive, with strong demand in personal care, pharmaceuticals and coatings," Alexander said. Ashland's full-year sales revenue forecast remains unchanged at $2.25 billion to $2.35 billion. Full-year adjusted EBITDA is expected to reach $550-570 million.

Also, ahead of preliminary results over the past two weeks, Dow released its forecast in March that first-quarter profit would top expectations, largely due to a healthy demand environment. Dow said at the time that demand remained strong in the packaging, durables, industrial, electronics, home care, pharmaceutical and architectural coatings end markets.