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Markets :: Fine Chemicals/Biotech :: Agricultural chemicals
Emerging Markets and Agchems Drive First-Quarter Results
2:09 PM MDT | April 28, 2008 | Kerri Walsh and Michelle Bryner
The first-quarter earnings season for U.S. basic and diversified chemical companies started strong, despite continued weak U.S. demand and surging raw material costs, producers say. Selling prices rose across most businesses and geographies, but raw material costs continued to rise. Emerging markets and agchems drove positive earnings results, producers say. Dow Chemical’s net income fell 3%, to $941 million (99 cts/share), on sales up 19%, to $14.8 billion. Lower volumes in North America, as well as rising raw material costs drove the decrease in net...
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