Second-Half Outlook

Specialty chemical makers reporting earnings last week maintained strong profit levels through the second quarter despite global economic uncertainty (p. 8). Albemarle, PPG Industries, and Sherwin-Williams all reported positive second-quarter results amid lowered expectations. All three managed to post higher year-over-year operating margins, an indication that prices are holding. U.S. demand remains resilient, driven by solid results in the housing and automotive sectors. PPG reported that overall volume growth was flat globally. The view by region, however...

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