High Prices, Low Demand Mean Mixed Earnings Results

Chemical makers continued to report mixed results, with commodity firms posting losses due to customer destocking, while specialty firms were able to maintain profitability due to price increases in the face of declining demand. One-time charges had a major impact on the earnings of LyondellBasell, Huntsman, Georgia Gulf and Koppers. LyondellBasell reported a fourth-quarter net loss of $218 million, compared with a profit of $766 million in the year-ago quarter. Sales rose 11%, to $11.4 billion. Weaker results were attributed to customer destocking, a slowdown in...

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