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Chemical Week Magazine :: Top of the Week
Earnings Outlook Improving on Cost Cuts and Quarterly Gains
7:52 AM MDT | October 16, 2009 | Nancy Seewald and Rebecca Coons
One year after the financial meltdown that decimated profits, analysts and manufacturers see the light of recovery at the end of the tunnel. Many chemical firms are poised to beat analysts’ consensus as cost-cutting actions, combined with low expectations after a dreadful early 2009, have resulted in a better-than-expected third quarter. Profits for most companies remain far below those of third-quarter 2008, however. Revenues are also down, even at those companies that have posted or expect to post higher profits. PPG Industries last week reported...
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