Yahoo Finance BASF (BASFY)-Encina Announce Long-Term Recycled Benzene Deal
BASF SE BASFY and Encina Development Group, LLC, an ISCC PLUS certified circular chemicals manufacturer, announced a long-term supply agreement for chemically recycled circular benzene derived from post-consumer end-of-life plastics. This marks a significant move in sustainable sourcing, as BASF strengthens the circular economy by integrating more chemically recycled, circular-based raw materials into its production processes. BASF plans to use chemically-recycled benzene for its broad Ccycled product portfolio.
BASF stated that incorporating benzene from post-consumer plastics into its value chains underscores the company's ongoing commitment to transitioning toward non-fossil and circular alternatives. The company emphasized that its partnership with Encina is driving this transformation by increasing the use of recycling-based feedstocks, enabling BASF to offer more Ccycled products to customers in the packaging, textiles and automotive industries.
Encina’s circular chemicals play a crucial role in the production of everyday and novel plastics. Utilizing proprietary catalytic technology, Encina produces high-yield, drop-in quality circular feedstocks. The company expressed pride in partnering with BASF, a leader renowned for its commitment to innovation and sustainability. It highlighted that this agreement represents a significant step towards a truly circular economy, where waste is minimized and resources are maximized for a more sustainable future.
BASF SE Price and Consensus
BASF SE price-consensus-chart | BASF SE Quote
BASF’s approach to achieving circularity involves the increasing use of recycled and renewable feedstocks, reshaping material cycles and creating new business models. The collaboration with Encina exemplifies BASF’s dedication to implementing advanced solutions to accelerate feedstock transformation.
Encina added that the agreement with BASF demonstrates that circularity is not just a concept but a tangible reality within reach.
In the past year, BASF’s shares have moved up 3.2% compared with the industry’s 4.8% fall in the same period.
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Zacks Rank & Other Key Picks
BASF currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the Basic Materials space are Carpenter Technology Corporation CRS, ATI Inc. ATI, and Ecolab Inc. ECL. While Carpenter Technology sports a Zacks Rank #1 (Strong Buy), ATI and Ecolab carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CRS’s current-year earnings is pegged at $4.31, indicating a year-over-year rise of 278%. CRS’ earnings beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, the average earnings surprise being 15.1%. The company’s shares have soared 91.9% in the past year.
ATI’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average earnings surprise being 8.34%, on average. The stock has rallied 35.1% in the past year.
The Zacks Consensus Estimate for Ecolab's current-year earnings is pegged at $6.59, indicating a rise of 26.5% from the year-ago levels. ECL beat the consensus estimate in each of the last four quarters, the average earnings surprise being 1.3. The stock has rallied nearly 35.2% in the past year.
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