IHS Chemical Week
EARNINGS/FINANCE

Petro Rabigh swings to profit

12:55 PM MDT | April 17, 2014 | Ian Young

Rabigh Refining and Petrochemical Co. (Petro Rabigh) posted a net profit of 413 million Saudi riyals in the first quarter compared with a SR658-million net loss in the corresponding period of 2013. The company also reported a first-quarter operating profit of...


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DuPont earnings up 1% despite revenue slip on weak ag results

DuPont reports first-quarter operating earnings of $1.5 billion, up 1% year-on-year (YOY), as weaker agriculture results offset gains in other segments. Operated earnings of $1.58/share, were up 1% from the year-ago quarter. Reported results were in line with analyst estimates as reported by Thomson Reuters (New York), which had been lowered in recent weeks after DuPont said first-quarter results would be hurt due to winter storms in North America and business disruptions in Ukraine....

Sherwin-Williams beats estimates on sales increase

Sherwin-Williams (SW) has reported first-quarter net income down 0.6% year-on-year (YOY), to $115.5 million, on sales up 9.2%, to $2.37 billion. Earnings totaled $1.14/share, including a 12 cts/share loss related to the Comex acquisition. SW terminated its...

Honeywell performance material unit posts lower earnings

Honeywell today reported a fall in profit in its performance materials segment. Profit was down 3% year-over-year (YOY), to $374 million, driven by unfavorable petrochemical catalyst shipment mix versus the prior year, prices and raw headwinds in the fluorine...

PPG earnings beat estimates on higher volumes

PPG today reported net income from continuing operations up 45% year-on-year (YOY), to $277 million, on sales from continuing operations up 17%, to $3.6 billion. Adjusted earnings, excluding a small restructuring charge, totaled $1.98/share, beating...

AkzoNobel's first-quarter net income up on lower financing costs

AkzoNobel registered €129 million ($178.3 million) in net income attributable to shareholders in the first quarter, up 45% year-on-year (YOY) mainly due to lower financing expenses. The result also reflects a positive volume and price-mix development in...

Alpek reports 61% drop in first-quarter net income

Alpek (San Pedro Garza García, Mexico) reported $24 million in net income during the first quarter, 61% down year-on-year (YOY) but a significant improvement from the $9-million loss recorded in the fourth quarter of last year. Ebitda was $105 million...

Albemarle earnings fall but beat estimates

Albemarle today reported net income down 32.6% year-on-year (YOY), to $56.6 million, or 71 cts/share, on net sales up 2.3%, to $656.7 million. Net income fell primarily due to charges related to pension and retiree benefits, while sales rose mostly on higher...

Schulman sets double-digit sales and earnings growth targets

A. Schulman has announced that it is aiming to grow sales by 10-11%/year through 2018, to $3.6-$3.7 billion. The company is also aiming to grow adjusted earnings by an average of 19-20%/year through 2018, to $4.50-$4.75/share, and adjusted Ebitda by...

Sensient, FrontFour trade volleys in advance of shareholder meeting

Dissident hedge fund FrontFour Capital (Greenwich, CT) today released a new letter to Sensient shareholders accusing the company of governance shortfalls and of a failure to disclose aspects of the proxy fight to shareholders. The letter notes that Sensient...

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