Markets :: Specialty Chemicals :: Electronic chemicals
Chemtura falls slightly short of estimates, volumes decline on soft demand
12:19 PM MST | November 6, 2012 | Vincent Valk
Chemtura today reported third-quarter net income of $9 million, or 9 cts/share, on sales down 4% year-on-year (YOY), to $743 million. Net income on a managed basis, excluding some onetime costs, totaled 35 cts/share, slightly short of analysts’ consensus of 36 cts/share, as reported by Thomson Reuters. “With continuing economic uncertainty, we are unlikely to see recovery in industrial demand in the fourth quarter and there remains a risk of further weakening,” says Chemtura CEO Craig Rogerson. The company remains focused on controlling...
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