ab 15 September 2025 Global Research Chemicals Sector What are North American investors focused on? Last week we met with 20+ institutions across North America. Discussions focused on earnings risk for FY25 and what could drive earnings recovery in FY26. Investors seemed to doubt the sector's ability to achieve top-line inflection and double-digit earnings growth in FY26. Key topics of focus were: (1) how have volumes in end markets & regions developed through 3Q?; we walked through the feedback from the Gl ...