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People & Business :: Companies
Chemical makers continue to post weak earnings
11:36 AM MDT | March 19, 2013 | —Lindsay Frost and Vincent Valk
Chemical makers that reported earnings last week posted results that were generally lower. Kronos was hit by weak titanium dioxide (TiO2) markets, while KMG Chemicals saw demand for semiconductor customers decline. Quaker Chemical, however, saw earnings rise as raw material costs stabilized. Kronos reports a net loss for the fourth quarter due to weakness in TiO2. The company reports a loss of $18.1 million (16 cts/share) for the quarter—down from an $85.5 million gain in fourth-quarter 2011. Net sales of $396.8 million dropped 9% year-on-year (YOY) because...
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