Specialty Chemicals Firms Post Steep 3Q Declines.(Specialty chemicals companies report earnings)(Brief Article)(Statistical Data Included)

Chemical Market Reporter, October, 2001

IN YET ANOTHER forgettable quarter, specialty chemicals companies are posting steep third quarter profit declines. Signs of any meaningful recovery remain elusive as economic weakness is expected to continue into the fourth quarter. "As indicated in their warnings, many specialty chemical results have been extremely weak in the third quarter," says Lehman Brothers analyst Timothy Gerdeman.

"Most are guiding fourth quarter expectations modestly lower." A common theme in the third quarter has been the lack of visibility going forward. "It has been unprecedented to see companies unwilling to give any definitive earnings guidance for 2002--let alone for the fourth quarter," Mr. Gerdeman adds. Rohm and Haas Company's underlying third quarter profits...

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