Earnings Mostly Beat Analyst Estimates at Diversified Firms

Second-quarter profits at U.S. basic and diversified chemical firms benefited from demand growth and higher selling prices, which in most cases were enough to offset rising raw material costs. Most results beat analyst expectations. Despite global economic uncertainty, firms are optimistic about second-half performance, particularly in emerging regions, and several raised full-year earnings expectations. Dow Chemical reported net income of $1 billion, up 64% from the same period last year. Adjusted earnings were 85 cts/share, compared with 54 cts/share in the...

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