25 or 6 or 7: 2026 WF Chicago Industrials and Materials Conference Preview/Question Bank

研报英文原文证据摘录

25 or 6 or 7: 2026 WF Chicago Industrials and Materials Conference Preview/Question Bank

Equity Research

Multi Company Update — June 4, 2026

Chemicals

25 or 6 or 7: 2026 WF Chicago Industrials and

Materials Conference Preview/Question Bank

Our Call Michael Sison

Welcome to Chicago! Welcome to the 16th annual Wells Fargo Industrials Conference, Equity Analyst | Wells Fargo Securities, LLC Michael.Sison@wellsfargo.com | 440-662-9664

held June 9-11, with +220 companies across the Industrials and Materials sectors and 25

Abigail J. Ebertscompanies in the Chemicals and Ag sector. Laissez Les Bon Temps Rouler!!

Associate Equity Analyst | Wells Fargo Securities, LLC

Abigail.Eberts@wellsfargo.com | 332-877-5728

Chemical Call: We believe our conference is a helpful mid-year check-in across our

coverage as we work to assess the impacts of the ever-evolving conflict in the Middle

East. We will be looking for color on end demand trends, as waters remain muddied by

commodity/raw material pricing movement. We remain the most positive on commodity

chemicals as the war in Iran has lasted long enough to likely keep pricing high through the

rest of this year. Top ideas are DOW, LYB, OLN, and CE.

Commodity Pricing - How Long Can Near-Peak Pricing Last? We believe our commodity

companies can give insight on the longevity of peak-ish pricing. PE, for example, is nearing

Winter Storm Uri's highs which lasted for just over a year. As a reminder, the USGC

capacity was down for ~2 months during Winter Storm Uri and took around a year to

return to normal. With several supply chains in the Middle East disrupted for 2+ months

so far, we believe high prices and margins will persist through 2026.

Fertilizer Prices Remain Top of Mind for Ag Stocks: Similar to some of the commodity