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Chemical Week Magazine :: Business & Finance :: United States/Americas
Specialty earnings mostly ahead of estimates
8:19 AM MST | February 21, 2014 | —Vincent Valk and Lindsay Frost
Specialty chemical companies report earnings that mostly beat analysts’ expectations on stronger conditions in key end markets, such as coatings and flavors. International Flavors & Fragrances (IFF) also reports good growth in emerging markets, while the improving US paint market lifted Valspar. Several companies, however, were hit by one-time charges, dragging down net income. Valspar reports fiscal first-quarter net income down 2.5% year-on-year (YOY), on sales up 9% (table). However, excluding restructuring costs, adjusted net income totaled $61...
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