Diversified, Commodity Firms Show Mixed Results

Kullman: Destocking impacted Q4. Fourth-quarter earnings reports at diversified, commodity and industrial gases firms showed mixed results, as strong pricing offset volume declines for many companies. Companies, however, remain cautiously optimistic for 2012 after a soft second-half of 2011. DuPont reported fourth-quarter net income of $373 million, down 1% from the year-ago quarter, as volumes fell 10%. Sales were up 14%, to $8.4 billion, on higher prices. Reported diluted earnings excluding one-time items was 35 cts/share, 6% above the midpoint of analyst...

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