Specialty results mixed, most firms forecast modest growth

Specialty chemical companies reported mixed fourth-quarter earnings, as results varied depending on end market. Albemarle and Omnova recorded declines in prices, while 3M and H.B. Fuller were positively impacted by acquisitions. Early reporters remained profitable, but only Fuller and Albemarle beat estimates. Companies generally expect more of the same in 2013, with earnings forecasts mostly showing small increases and economic uncertainty expected to continue at least through mid-year. Albemarle’s fourth-quarter net income totaled $37.7 million, or 42...

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