BASF: BASF Unit Launches First Reduced Carbon Footprint Product

In This Article: BASF SE 's BASFY unit, BASF Aroma Ingredients, recently introduced the L-Menthol FCC rPCF as its first product with a reduced Product Carbon Footprint (rPCF). The reduction in PCF in rPCF aroma ingredient has been recorded to be 10-15% vis-à-vis conventional BASF products. BASF's additional rPCF product launches are expected to help customers achieve their Scope 3 carbon reduction targets. To achieve net-zero carbon emissions by 2040, Colgate-Palmolive became one of the first customers to use BASF's newly launched product. The collaboration with BASF has helped Colgate-Palmolive make much progress toward its target while maintaining high-quality standards. BASFY, at its Verbund sites, has begun replacing a specific share of conventional raw materials or utilities with respective raw materials or utilities with reduced PCF. The transition does not require any change in the production process, which makes it seamless. The company also plans to launch Citronellol rPCF and Geraniol rPCF in 2025 while expanding its rPCF aroma ingredients portfolio with an exclusive focus on large-volume products to reduce the Scope 3 emissions of customers. The BASFY stock has lost 23.2% over the past year compared with the 30.2% decline in the industry. Zacks Investment Research Image Source: Zacks Investment Research BASFY's Zacks Rank and Key Picks BASFY currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the Basic Materials space are Ingevity Corporation NGVT, Axalta Coating Systems AXTA and Carpenter Technology Corporation CRS. While NGVT and AXTA sport a Zacks Rank #1 (Strong Buy) each at present, CRS carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here . The Zacks Consensus Estimate for Ingevity's current-year earnings is pegged at $4.45 per share. NGVT's earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with the average surprise being 202.9%. The Zacks Consensus Estimate for Axalta's current-year earnings is pegged at $2.51 per share. AXTA's earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 16.28%. The Zacks Consensus Estimate for Carpenter Technology's current fiscal-year earnings is pegged at $6.95 per share. CRS' earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 15.7%. Its shares have soared 88.1% in the past year. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Zacks Investment Research BASF SE (BASFY) : Free Stock Analysis Report Carpenter Technology Corporation (CRS) : Free Stock Analysis Report Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report Ingevity Corporation (NGVT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research