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MeadWestvaco earnings fall, but specialty chemicals sales rise
10:13 AM MDT | July 30, 2013 | Vincent Valk
MeadWestvaco (MWV) today reported earnings from second-quarter continuing operations of $67 million, down 14.1% YOY, on sales of $1.43 billion, up 0.7%. Adjusted earnings from continuing operations declined 19.6%, to 37 cts/share, easily beatings analysts’ consensus estimate of 28 cts/share, as reported by Thomson Reuters (new York). Specialty chemicals segment sales rose 5.7% YOY, to $260 million, while segment profit declined 1.6%, to $61 million. Volume growth in certain pine chemicals markets, including adhesives, asphalt and oilfield, drove the...
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