IHS Chemical Week

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Specialty earnings mostly down on soft economy

April 29, 2013 | —CW Staff

Specialty chemical makers generally posted earnings declines as economic weakness dragged down results. Coatings makers were an exception, as the rebound in the North American construction market helped PPG and Sherwin-Williams (SW) beat estimates despite weakness in Europe ( p. 57). Ashland was hit by weak European demand and no-margin sales of straight guar. Meanwhile, catalyst makers W.R. Grace and Albemarle were hit by lower metals surcharges and soft demand in some end markets. PPG reported first-quarter adjusted net income of $235 million, or $1.58/share...

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