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Chemtura misses estimates despite higher sales

4:38 PM MDT | July 29, 2014 | Vincent Valk

Chemtura today reported second-quarter earnings up 59% year-on-year (YOY), to $43 million, on sales up 3%, to $609 million. Earnings from continuing operations totaled $30 million, or 32 cts/share, up 20% YOY, but short of analysts’ consensus estimate of 35 cts/share, as reported by Thomson Reuters (New York). "In the second quarter, we delivered on a number of our performance improvement initiatives," says Craig Rogerson, Chemtura chairman and CEO. "As anticipated, our Industrial Engineered Products segment improved its performance...

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