Profits Hold Amid Headwinds

First-quarter earnings are above expectations so far, despite continued weakness in the U.S. and surging raw material costs (p. 7). Growth in emerging regions and a strong agriculture market drove positive earnings results for many chemical makers. Selling prices continue to rise across most segments and geographies. Surging oil and energy costs have not swamped margins thus far, as all commodities—including ag inputs, chemicals, food, metals, and minerals—continue to rise. DuPont took the uncommon, but welcome, step of featuring commentary from its...

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