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Cytec beats estimates on solid volumes

3:41 PM MDT | April 22, 2014 | Vincent Valk

Cytec today reported first-quarter earnings up 57% year-on-year (YOY), to $55.9 million, or $1.52/share, on sales up 2.5%, to $489 million. Adjusted earnings totaled $1.42/share, beating analysts’ consensus estimate of $1.33/share, as reported by Thomson Reuters (New York). “Our first quarter revenues were in line with our expectations. Sales growth was driven by the in process separation, aerospace materials and industrial materials segments. We experienced operational challenges in aerospace materials that resulted in an earnings decline versus the...

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