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(ICIS) -- Wall Street analysts are
expecting mostly higher fourth-quarter 2010 earnings from US chemical companies
along with some upside surprises. However, the year-on-year comparisons will be
tougher than the second- and third-quarter year-on-year comparisons.
The analyst noted that only a handful of companies were expected to post
profit declines - Huntsman, Arch Chemicals, Solutia and DuPont, reflecting
specific issues such as a higher tax rate (Huntsman), timing shifts (Arch), the
return of incentive compensation (Solutia) and tough comps (DuPont).
US coatings and chemicals producer PPG has already reported an earnings
beat, coming in with fourth-quarter earnings per share of $1.25 (?0.93) versus
the consensus estimate of $1.13.
However, shares of PPG “fell 2% post the Q4 release as strong segment
results were overshadowed by concerns over rising raw materials and slower China
GDP”, said Deutsche Bank analyst David Begleiter.
mrcplast.com
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