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Chemtura earnings fall short of estimates on soft demand

4:37 PM MDT | May 2, 2013 | Vincent Valk

Chemtura today reported a first-quarter net loss from continuing operations of $22 million, compared with a profit of $22 million in the year-ago period. Net sales declined 1.9% year-on-year (YOY), to $606 million. Adjusted net earnings from continuing operations totaled $15 million, down 17%, or 15 cts/share, short of analysts’ consensus of 20 cts/share, as reported by Thomson Reuters (New York). The adjusted earnings exclude costs related to environmental remediation of a closed site in France and restructuring charges.   “As anticipated, with...

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