IHS Chemical Week

Chemical Week Magazine :: Top of the Week

Sales and Profits Surge on Higher Volumes and Pricing

10:54 AM MDT | May 16, 2011 | CW Staff

Diversified and specialty chemical firms posted strong first-quarter sales and earnings on continuing demand recovery across the globe. Rising raw material costs ate into some profits, but most firms say they were able to counter higher costs with increased selling prices. Most firms beat the consensus of analysts’ estimates. Dow Chemical’s net income jumped 31%, to $721 million (54 cts/share), on sales up 20%, to $14.7 billion. Earnings were 82 cts/share excluding certain items, well above the consensus of analysts’ estimates of 67 cts/share...

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