Uncertainty Dampens Late Reporters’ Results

Economic uncertainty driven by the crisis and recession in Europe tarnished second-quarter results for late-reporting chemical companies. While most companies remained profitable, revenues mostly declined or posted tepid growth. Companies expect economic conditions to remain challenging through the balance of the year. Agrium reported net earnings of $860 million for the second quarter of 2012, up 20% from the year-ago quarter. Earnings per share of $5.44/share beat analysts’ estimates of $5.22/share, according to Thomson Reuters (New York). Sales increased...

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