Strong Sales Fail to Lift Some Specialty Chemical Profits

Specialty chemical companies reported mixed first-quarter earnings, though sales rose. Special charges dampened profits at Rohm and Haas (R&H), while strong growth in Latin America and Asia bolstered Ecolab’s earnings. R&H’s earnings from continuing operations fell 9% compared with the year-ago quarter, to $172 million (87 cts/share), on sales up 16%, to $2.5 billion. Current quarter results include 4 cts/share in restructuring and asset impairment charges. Adjusted earnings of 91 cts/share grew 6% versus the prior-year period, and were higher...

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