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Specialty earnings mostly solid on steady sales

3:38 PM MDT | May 20, 2013 | CW Staff

Late-reporting specialty chemical companies mostly report solid earnings, since the US construction rebound lifted Valspar’s results and IFF benefitted from low raw materials costs and an improved sales mix. Chemtura, however, was hit by weak demand for flame retardants and electronic chemicals, with adjusted earnings down year-on-year (YOY) as the company posted a net loss due to environmental expenses. Valspar reports adjusted net income for the fiscal second quarter, ended 26 April, of $83 million, up 3.8% YOY, from $80 million. Adjusted earnings totaled...

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