Chemical company earnings soared and production and prices increased in the first quarter of 2004, compared to the same period last year, reports Chemical & Engineering News in its May 17 issue. C&EN is the weekly newsmagazine published by the American Chemical Society, the world's largest scientific society.
C&EN, which surveyed 25 U.S. chemical companies, notes that as prices and production rose, demand for U.S. chemical products increased, while firms continued to cut costs. Total earnings from continuing operations at 24 of the 25 chemical companies regularly surveyed by the magazine rose 79.4 percent to $2.5 billion as total sales for the companies increased 14.7 percent to $35.1 billion.
Dow Chemical ranked first in sales, at just over $9.3 billion in the first quarter, followed by DuPont at slightly more than $8 billion. In the earnings category during the first quarter, DuPont led with $964 milli
on, followed by Dow Chemical at $469 million, according to C&EN. Despite being second in earnings for the first quarter of 2004, Dow Chemical had the largest dollar increase in earnings, compared to the same quarter last year - $384 million, ahead of DuPont's $349 million increase.
Source: Eurekalert & othersLast reviewed: By John M. Grohol, Psy.D. on 21 Feb 2009
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