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

Specialty chemical earnings mostly beat expectations

10:06 AM MDT | October 25, 2013 | CW Staff

Specialty chemical companies mostly beat analysts’ estimates during the third quarter, even as charges dragged down earnings in many cases. PPG Industries was hit by restructuring charges, while Cytec and Albemarle suffered from the inclusion of divested businesses in the prior-year quarter. Still, most companies beat estimates because of a combination of improved market conditions, cost-cutting measures, and exits from lower-margin businesses. PPG reports third-quarter net income of $220 million, or $1.52/share, down 24% year-on-year (YOY), on sales up...

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