IHS Chemical Week

People & Business :: Earnings/Finance

Cytec beats estimates as sales rise slightly

3:26 PM MDT | October 17, 2013 | Vincent Valk

Cytec has reported third-quarter net earnings of $43.8 million, or $1.19/share, down 25% year-on-year (YOY), with sales from continuing operations totaling $464 million, up 2%. Excluding charges and discontinued operations, adjusted earnings from continuing operations totaled $49.4 million, or $1.34/share, up 6% and slightly ahead of analysts’ consensus estimate of $1.32/share, as reported by Thomson Reuters (New York). “Our third quarter results reflect more modest top line growth compared to the third quarter of last year as legacy large commercial...

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