Specialty Earnings Quite Good Despite Soft Sales and Pricing.(specialty chemicals)(Industry Overview)

Chemical Market Reporter, July, 1998 by Chang, Joseph

THE FIRST BATCH of specialty chemical companies have posted higher year-over-year second quarter earnings despite slack sales, volumes and pricing stemming from the Asian economic crisis and weaknesses in key end markets. Companies registered less impressive gains in operating profits versus net income.

"Earnings have come in line with lowered expectations thus far," says CS First Boston analyst David Begleiter. "It's been a lousy quarter up until now. Between Asia, currency and competitive pricing, there have been no major positive surprises." Rohm and Haas Company enjoyed a 7 percent gain in second quarter earnings to $122 million on 4 percent lower sales of $990 million due to the strength of the US dollar and slightly lower selling prices. Volumes were...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.