Earnings Spring Back

Chemical makers continue to beat forecasts in the first quarter as strong volume and margin growth lift earnings. Most producers are notching strong double-digit year-over-year earnings growth. Dow Chemical and ExxonMobil Chemical saw earnings increases of more than 20%, and DuPont’s operating income excluding pharma was up 31%. There are some exceptions in specialties, but even there companies are indicating that they fully expect to recover high costs within the next quarter. Prices continue to soar and recovery remains uneven in the U.S. and Europe, but...

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