Major chemicals 2Q results exceed expectations. (News).(Millennium Chemicals Inc. reports loss of $2 mn in second quarter)(Brief Article)(Statistical Data Included)

Chemical Market Reporter, August, 2002

MAJOR CHEMICAL companies posted sequential improvements in second quarter earnings across the board, with many firms exceeding Wall Street expectations. DuPont also showed significant growth year over year. Driving the better performance were improved volumes and pricing strength in certain commodity chemicals.

Millennium Chemicals Inc. posted an underlying loss of $2 million in the second quarter versus a $3 million loss in the year-ago period on 6 percent lower sales of $836 million. The loss of 4 cents per share beat Wall Street expectations of a loss of 20 cents. "Solid demand for Millennium's products in most markets is supporting price increases, and continued improvement in operating results is expected for Millennium's wholly owned businesses...

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