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Chemtura beats estimates, but bromine weakness persists

3:52 PM MDT | July 30, 2013 | Vincent Valk

Chemtura’s second-quarter net income from continuing declined 11% year-on-year (YOY), to $47 million, or 47 cts/share, on sales down 1%, to $735 million, the company says. Adjusted net income declined 25%, to 40 cts/share, but beat analysts’ consensus estimate of 37 cts/share, as reported by Thomson Reuters. Chemtura recorded an overall net loss, of $93 million, due to a $146 million loss related to the sale of its antioxidants business. Results were mostly in line with Chemtura’s reported preliminary results, issued earlier this month...

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