Specialty earnings beat lowered estimates amid hazy outlook

Specialty chemical companies beat lowered analysts’ expectations for the most part despite what most producers characterized as a difficult and uncertain economy. Volumes were mixed, but higher selling prices and moderating raw material cost increases bolstered results. Many US companies were also hurt by the strong dollar. Albemarle says it “expects market and economic conditions to remain unstable for the foreseeable future.” While the company expects to grow in 2013, “I expect the fourth-quarter will be even more difficult than the...

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