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People & Business :: Companies
Solutia Lowers Full-Year Earnings Guidance
9:07 AM MDT | September 14, 2011 | Vincent Valk
Solutia has downgraded its full-year 2011 earnings guidance by about 8%, to $1.95-$2.05/share, from $2.10-$2.25/share, the company says. The downgrade "reflects a slower than expected demand profile primarily for products that serve truck and bus, solar, and electronic end markets, and continued raw material cost pressure," Solutia says. The company still expects year-on-year earnings growth. "Coming out of the second quarter, we expected that sales volumes in our key product lines would experience growth in the back half of 2011 versus the...
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