Specialty firms’ income rises but EPS mostly miss estimates

Specialty chemical earnings per share (EPS) mostly fell short of analysts’ estimates in the fourth quarter, with companies undermined by weak demand and rising raw material costs in some sectors. Ashland’s results were hit by a write-down of guar inventory and weak demand from the construction sector in emerging markets. Sherwin-Williams (SW), meanwhile, was hit by a rise in raw material prices. Most companies, however, recorded net income increases, and issued 2013 guidance in line with Wall Street expectations. Higher paint sales volumes and...

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