Union Carbide See Results Above Expectations
Chemical maker
Union Carbide
(UK)
said Wednesday that its fourth-quarter earnings will be "somewhat" above Wall Street expectations.
In a statement, the company said stronger margins in its basic chemicals and polymers segment and improved performance by some of its business ventures should help the company's earnings beat estimates from
First Call/Thomson Financial
.
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First Call's consensus of 11 analysts forecasts fourth-quarter earnings for Union Carbide of 46 cents per share.
The company will report fourth-quarter earnings on Monday.
In the same period a year ago Carbide's fourth-quarter earnings were $67 million, or 49 cents a share, which included a 31-cent-a-share boost from a patent litigation settlement.
In contrast to this year, the Danbury, Conn.-based company had pre-warned analysts about lower-than-expected earnings last year.
Union Carbide is currently slated to merge with
Dow Chemical
. The deal is expected to finish regulatory review by the second quarter of this year.
Union Carbide was up 15/16, or 2%, to 57. (Union Carbide closed up 1/4, or 0.45%, at 56 5/16.)
