Chemtura Common Stock Earnings:Here’s Why Investors are Not Happy Now
Chemtura Corp. Common Stock (NYSE:CHMT) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 3.56%.
Chemtura Corp. Common Stock Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 3.85% to $0.27 in the quarter versus EPS of $0.26 in the year-earlier quarter.
Revenue: Decreased 8.11% to $622.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Chemtura Corp. Common Stock reported adjusted EPS income of $0.27 per share. By that measure, the company missed the mean analyst estimate of $0.31. It missed the average revenue estimate of $684 million.
Quoting Management: “The fourth quarter completed a year of significant progress in which we delivered improvement each quarter with a modest year-over-year improvement in Adjusted EBITDA,” commented Craig A. Rogerson, Chairman, President and CEO of Chemtura. “Chemtura AgroSolutions and Consumer Products both performed strongly in one of their seasonally weaker quarters, delivering significant improvement over the fourth quarter of 2011. Our Industrial segments however faced tougher business conditions.”
Key Stats (on next page)…