issued an earnings warning today, blaming rising costs for crude oil and other raw materials.
The company, which will release earnings Oct. 30, said it expects to earn 20 cents a share for the third quarter. The two-analyst
First Call/Thomson Financial
consensus was for earnings of 57 cents a share. The company earned 36 cents a share in the year-ago period.
Union Carbide is being acquired by
, a chemical producer that also issued an earnings warning for this quarter.
also issued warnings, as chemical companies have seen profits erode due to rising raw materials costs.