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People & Business :: Earnings/Finance
Cytec beats estimates, announces stock split
11:04 AM MDT | July 18, 2014 | Vincent Valk
Cytec today announced second-quarter earnings that more than doubled year-on-year (YOY), to $73.6 million, on sales up 2.6%, to $527 million. Earnings from continuing operations were roughly flat, at $62.6 million. Adjusted earnings from continuing operations totaled $1.71/share, easily beating analysts’ consensus estimate of $1.53/share, as reported by Thomson Reuters (New York). Aerospace materials segment sales grew 5% YOY, to $262 million, while segment operating earnings declined 3.5%, to $52.7 million. Volumes were up 3% due to higher build rates and...
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