graphic
News > Companies
Union Carbide profit off
September 19, 1997: 9:55 a.m. ET

Chemicals and plastics producer says it expects lower third-quarter earnings
graphic
graphic graphic
graphic
NEW YORK (CNNfn) - Union Carbide Corp. said Friday it expects third-quarter earnings to be below analysts' expectations of $1.34 a share.
     The company blamed the lower profits on higher raw materials costs, weak pricing and a stronger dollar.
     But earnings should be "somewhat above" the $1.08 per share reported in the same period in 1996, said Dave Kernis, a spokesman for the company. He declined to be more specific.
     First Call forecast earnings of $1.34 a share for the quarter.
     Union Carbide (UK), based in Danbury, Conn., researches, develops and produces chemicals and plastics.
     Earnings in the company's chemicals and polymers unit were affected by higher raw materials costs and weak pricing, the company said.
     A strong dollar and higher costs for energy and materials wiped out gains in two specialties and intermediate business lines, the company said. The units make solvents and coatings for paints and adhesives, among other products.
     The company expects profits below the $191 million reported in the second quarter.Back to top

  RELATED STORIES

Kodak issues profit warning - Sept. 15, 1997

Warning mauls Motorola - Sept. 11, 1997

  RELATED SITES

Union Carbide


Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney




graphic


Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.