IHS Chemical Week

People & Business :: Earnings/Finance

Cytec earnings decline, but beat estimates

4:57 PM MST | January 30, 2014 | Vincent Valk

Cytec today reported adjusted earnings from continuing operations down 3.5% year-on-year (YOY), to $41.9 million, on sales up 1.9%, to $480 million. Actual earnings totaled $59.4 million, or $1.62/share. Adjusted earnings totaled $1.15/share, beating analysts' consensus estimate of $1.11/share, as reported by Thomson Reuters (New York). “Each business segment delivered sales growth versus the prior year period excluding 2012 sales from the divested distribution product line. The specialty chemical segments provided solid earnings performance and industrial...

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