The global COVID-19 pandemic hit the chemical industry hard. This can be seen when comparing the year-over-year change in earnings of several major global chemicals companies from the second quarter of 2019 to the second quarter of 2020. BASF was perhaps most dramatically impacted, with an earnings decrease of nearly 70 percent during that timeframe.
Year-over-year earnings change of selected chemical companies worldwide from Q2 2019 to Q2 2020
(in percent)
* The source does not provide the year-over-year earnings decrease in percentage, but does provide the following:
Dow's losses from Q2 2020 compared to Q2 2019 amounted to 217 million U.S. dollars.
Covestro's losses from Q2 2020 compared to Q2 2019 amounted to 60 million U.S. dollars.
Huntsman's losses from Q2 2020 compared to Q2 2019 amounted to 30 million U.S. dollars.
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C&EN. (July 30, 2020). Year-over-year earnings change of selected chemical companies worldwide from Q2 2019 to Q2 2020 (in percent) [Graph]. In Statista. Retrieved May 19, 2022, from https://www.statista.com/statistics/1142865/global-chemical-companies-year-over-year-change-in-earnings/
C&EN. "Year-over-year earnings change of selected chemical companies worldwide from Q2 2019 to Q2 2020 (in percent)." Chart. July 30, 2020. Statista. Accessed May 19, 2022. https://www.statista.com/statistics/1142865/global-chemical-companies-year-over-year-change-in-earnings/
C&EN. (2020). Year-over-year earnings change of selected chemical companies worldwide from Q2 2019 to Q2 2020 (in percent). Statista. Statista Inc.. Accessed: May 19, 2022. https://www.statista.com/statistics/1142865/global-chemical-companies-year-over-year-change-in-earnings/
C&EN. "Year-over-year Earnings Change of Selected Chemical Companies Worldwide from Q2 2019 to Q2 2020 (in Percent)." Statista, Statista Inc., 30 Jul 2020, https://www.statista.com/statistics/1142865/global-chemical-companies-year-over-year-change-in-earnings/
C&EN, Year-over-year earnings change of selected chemical companies worldwide from Q2 2019 to Q2 2020 (in percent) Statista, https://www.statista.com/statistics/1142865/global-chemical-companies-year-over-year-change-in-earnings/ (last visited May 19, 2022)
