Higher Volumes Drive Year-End Earnings Growth

Chemical firms posted strong gains in the quarter ended December 31, 2010 as most beat expectations. Volumes were strong, but in some cases selling prices failed to keep pace with rising raw material costs. DuPont’s fourth-quarter net income fell 15%, to $376 million, due to charges totaling $195 million related to the extinguishment of debt and an up front payment for a licensing agreement. Adjusted earnings of 50 cts/share beat the consensus of analysts’ estimates by 18 cts/share, as reported by Thomson One (New York), due mostly to lower taxes. Sales rose...

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