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Chemical Week Magazine :: Top of the Week
Gains for commodity, diversified makers despite demand slump
10:07 AM MDT | October 25, 2013 | —CW Staff
Commodity and diversified chemical makers posted stronger third earnings as increased efficiency and cost savings offset subdued demand. Dow Chemical posted a nearly 20% gain in profit versus last year, but compressed epoxy and ag margins kept results below Wall Street expectations. Net income increased 20% year-on-year (YOY), to $594 million, while net sales increased 1% YOY, to $13.7 billion. Adjusted earnings increased 19% YOY, to 50 cts/share, but fell 4 cts short of a consensus of analysts’ estimates compiled by Thomson Reuters (New York). Most of the...
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