Most Specialty Firms Report Increased Profits

Specialty chemical companies reported solid first-quarter results, with most companies beating estimates and reporting rising profits. Ashland’s International Specialty Products (ISP) acquisition contributed to strong results, while Rockwood benefited from high titanium dioxide prices and W.R. Grace benefited from high catalyst prices. Ferro’s net income fell, however, as its electronic materials segment swung to a loss. Ashland’s fiscal second-quarter earnings from continuing operations rose 57% year-on-year, to $121 million, or $1.52/share, on...

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