This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cytec Reaffirms Full Year 2010 Adjusted EPS Outlook

Cytec Industries Inc. (NYSE:CYT) reaffirmed today its outlook for 2010 full year adjusted diluted earnings per share to be in a range of $3.20 to $3.50. Cytec is revising its segment guidance as follows.

The Coating Resins segment now anticipates full year sales in a range of $1,375 to $1,400 million, from the previous range of $1,350 to $1,450 million, for a revised fourth quarter sales range of approximately $300 to $325 million. Full year operating earnings are now forecasted to be in a range of $60 to $70 million versus our prior estimate of $70 to $80 million for a revised fourth quarter range of a $4 million operating loss to $6 million of operating earnings. The decline in the Coating Resins fourth quarter guidance is due primarily to a less favorable product mix than anticipated and by higher levels of customer destocking to manage year end working capital levels in response to weaker fourth quarter demand and also in anticipation of weaker demand growth in North America and Europe in early 2011. Overall visibility in demand for the coating markets remains poor.

The Building Block Chemicals segment is experiencing improved margins in both melamine and acrylonitrile in the fourth quarter. This is forecasted to increase Building Block Chemicals full year operating earnings to a range of $35 to $40 million versus our prior range estimate of $25 to $30 million for a revised fourth quarter operating earnings range of $6 to $11 million.

The Engineered Materials segment continues to see growth in its order backlog and the demand outlook remains strong. As a result, we now anticipate full year sales of $750 to $760 million from the prior guidance of $730 to $760 for a revised fourth quarter sales range of $181 to $191 million. Full year operating earnings are now forecasted to be in a range of $110 to $115 million, up from the prior guidance range of $105 to $115 million or a revised fourth quarter range of $23 to $28 million.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.70 0.00%
FB $101.91 0.00%
GOOG $683.11 0.00%
TSLA $150.47 0.00%
YHOO $26.76 0.00%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs