Diversified Firms Beat Estimates, But Earnings Tumble

Airgas, Air Products, DuPont, and PPG Industries surprised analysts with better-than-expected earnings, reporting profits that were still far below the year-ago period but improved on a sequential basis from early 2009 levels. Looking Up* (in millions of dollars) Company Sales % Change Earnings % Change DuPont $6,900 -22% $417 -61% PPG Industries 3,100 -30 146 -42 Air Products 1,970 -28 113.2 61 Air Gas 979 -12 55 -20 *Sales and earnings for the quarter ended June 30, 2009. Source: Company reports. DuPont’s net income fell 61% from the year-ago period, to $417...

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