FRANKFURT, Oct 31 (Reuters) - German chemicals maker BASF (BASFn.DE) said on Tuesday that 2023 operating earnings and sales would be at the lower end of its target ranges, weighed down by lower sales volumes across its chemicals and plastics businesses.

"If chemical production does not stabilize, there are risks from a further decline in volumes and a stronger price reduction than expected," the group added.

It also reported that third-quarter operating income dropped 57%, mainly because of lower prices and sales volumes of basic petrochemicals.

Quarterly earnings before interest and taxes, adjusted for one-offs, fell to 575 million euros ($609 million), slightly below an analyst consensus of 601 million euros posted on the company's website.

BASF said 2023 operating income would be at the lower end of a previous target range of between 4 billion euros ($4.24 billion) and 4.4 billion, down from 6.9 billion in 2022.

($1 = 0.9438 euros)

https://www.reuters.com/markets/commodities/basf-sees-2023-profit-lower-end-target-range-2023-10-31/