Union Carbide, Robin and Haas 4Qs to Fall Short of Expectations.(Industry Overview)

Chemical Market Reporter, December, 1998

'TIS THE SEASON for fourth quarter earnings preannouncements. Union Carbide and Rohm and Haas indicate that their fourth quarter earnings will fall short of Wall Street expectations. The news comes a week after Millennium Chemicals announced it would essentially break even in the fourth quarter, a sharp drop from Wall Street expectations of earnings of 20 cents per share (CMR, 12/7/98, pg. 4).

At the Schroders chemical conference last week, Union Carbide vice-president and CFO John K. Wulff said upcoming earnings will likely meet analysts' expectations of 31 cents per share, but only because of a substantial gain from the proceeds of a litigation settlement related to its Unipol Systems business.

Carbide will be hurt by unexpected further delays...

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