IHS Chemical Week

OM Group beats estimates

12:02 PM MDT | May 2, 2013

OM Group reported a fourth-quarter net loss of $109.7 million, compared with a profit of $11.9 million in the year-ago quarter. The loss was mostly due to a $112 million non-cash loss related to the sale of its advanced materials cobalt business. Adjusted earnings totaled 15 cts/share, ahead of analysts’ consensus of 4 cts/share, as reported by Thomson Reuters. Sales were down 21.9%, to $364.3...

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