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Chemical Week Magazine :: Business & Finance :: United States/Americas

Specialty Chemical Earnings Beat Estimates

5:49 AM MST | January 27, 2012 | —Vincent Valk

U.S. specialty chemical makers reported year-on-year increases in fourth-quarter earnings last week, beating analyst estimates. Sherwin-Williams reported fourth-quarter net income of $14.6 million, or 14 cts/share, down 80% from the year-ago period on a one-time tax charge. The tax charge was related to a $75-million settlement of an IRS audit of Sherwin Williams’ employee stock ownership plan. Adjusting for the tax charge, earnings totaled 84 cts/share, narrowly beating analysts’ consensus of 83 cts/share, as reported by Thomson Reuters (New York)...

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