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Axiall adjusted earnings fall on weak cumene volumes

11:31 AM MST | November 6, 2013 | Rebecca Coons

Axiall reports net income down 0.8% year-on-year (YOY), to $39.0 million. Adjusted earnings slumped 29.2%, to 97 cts/share, but met a consensus of analysts’ estimates compiled by Thomson Reuters (New York). Net sales increased 47.5% YOY, to $1.2 billion. Chlorovinyls segment sales more than doubled YOY, to $750.0 million, on the addition of PPG’s chlor-alkali business, which Axiall acquired in January. Segment adjusted Ebitda jumped 78.9% YOY, to $151.5 million. Building products sales—driven by a 26% increase in US sales volume, partially...

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