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Markets :: Specialty Chemicals :: Lubricants
Chemtura misses estimates on weakness in bromine and organometallics
3:48 PM MDT | April 30, 2014 | Vincent Valk
Chemtura today reported net earnings of $10 million, compared with a net loss of $18 million in the year-ago quarter, on sales up 5% year-on-year (YOY), to $556 million. Adjusted earnings totaled $13 million, or 13 cts/share, down 24% YOY and short of analysts’ consensus estimate of 17 cts/share, as reported by Thomson Reuters (New York). The industrial engineered products segment, which includes bromine and organometallics, incurred a loss despite rising sales. The company was also hit by bad winter weather and unfavorable manufacturing variances...
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