Dow, Rhodia, IMC, Olin Profit Outlook Worsens.(Brief Article)(Statistical Data Included)

Chemical Market Reporter, July, 2001

AS THE SUN sets on the second quarter, companies and Wall Street continue to take down profit expectations for 2001. Weak demand and the strong US dollar are more than offsetting any positive impact from declining energy costs. Dow Chemical Company warns that second quarter earnings per share will fall short of its previous guidance of 35 to 45 cents because of weak demand.

However, Dow does expect its earnings to fall within the current range of estimates ranging from 28 to 40 cents. Prior to the warning, JP Morgan analyst Donald Carson lowered his second quarter EPS estimate for Dow from 40 cents to 28 cents. The analyst also recently lowered his 2001 EPS estimate from $1.25 to 80 cents and his 2002 number from $2.25 to $1.60. Rhodia is also...

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