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Chemtura misses Street 4Q forecasts

PHILADELPHIA (AP) _ Chemtura Corp. (CHMT) on Wednesday reported fourth-quarter profit of $22 million.

On a per-share basis, the Philadelphia-based company said it had net income of 34 cents.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The specialty chemical company posted revenue of $385 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $399.4 million.

For the year, the company reported a loss of $15 million, or 24 cents per share, swinging to a loss in the period. Revenue was reported as $1.65 billion.

Chemtura shares have dropped slightly since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $33.10, an increase of 24 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHMT at https://www.zacks.com/ap/CHMT


Keywords: Chemtura, Earnings Report