TPC Group Earnings Fall 91% on Butadiene Weakness

TPC Group (TPCG) net Income slipped 91%, to $3 million, in the second quarter as sharp declines in butadiene prices and a large number of ethylene plant turnarounds hurt results. Reported earnings of 21 cts/share beat median analyst estimates of an 8-ct/share, loss as reported by Thomson Reuters (New York). Revenue fell 13%, to $690 million. Volume fell 13%, reflecting restricted crude C4 feedstock supply due to the abnormally high number of ethylene plant turnarounds as well as soft demand, TPCG says. “Excluding the butadiene price change impact, we...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers