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Chemical Week Magazine :: Business & Finance :: United States/Americas
More Chemical Firms Post Big Profit Gains on Higher Volumes
9:08 AM MST | November 12, 2010 | â€”NANCY SEEWALD and Kerri Walsh
Higher volumes and selling prices lifted third-quarter profits and revenues at late-reporting chemical firms. Huntsman reported net income of $55 million, compared with a loss of $68 million in the year-ago period. Operating income nearly doubled, to $167 million, on sales up 16%, to $2.4 billion. Sales and profits rose across all business segments, except in polyurethanes where earnings fell due to higher raw material and manufacturing costs. Earnings per share excluding one-time items were 34 cts, beating the consensus of analystsâ€™ estimates of 21 cts/share...
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