IHS Chemical Week

Regions :: North America

Lower Costs Lift Basic and Diversified Chemical Earnings

2:02 PM MDT | July 25, 2007 | Kerri Walsh with Michelle Bryner

Most North American basic and diversified chemical makers beat analysts’ fourth-quarter earnings estimates (table). Lower raw material and energy costs helped to offset weak demand in U.S. automotive and housing markets. Dow Chemical’s net income fell 11%, to $975 million ($1.00/share). Earnings were 98 cts/share excluding one-time items. Dow, however, exceeded the consensus of analysts’ estimates of 93 cts/share, as reported by First Call (Boston). Net income fell because operating income declined within the agricultural sciences, basic...

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