DuPont announced a definitive agreement to sell an 80.1% ownership interest in the Delrin® acetal homopolymer (H-POM) business1 to TJC LP (TJC) in a transaction valuing the business at $1.8 billion. TJC has received fully committed financing in connection with the transaction, which is expected to close around year-end 2023, subject to customary closing conditions … Read more
Saudi Arabia’s state-owned oil company Aramco reported a 38% drop in its net profit for the second quarter of 2023, as lower crude oil prices and weaker refining and chemicals margins weighed on its performance. The company posted a net income of $30.1 billion for the three months ended June 30, down from $48.4 billion … Read more
SRF Limited, a chemical-based multi-business entity specializing in the production of industrial and specialty intermediates, has released its consolidated financial results for the first quarter ended June 30, 2023. The unaudited results were approved by the Board of Directors during a meeting held on the same day. Q1 Results: In the first quarter of the … Read more
Arkema, a leading chemical company, has released its financial results for Q1 2023. Despite continued low volumes and weak demand in Europe, the company has achieved a solid financial performance in line with its full-year guidance for 2023. Sales Decline, But Prices Remain Resilient Arkema reported sales of €2.5 billion for the first quarter of … Read more
UPL Ltd., a leading agrochemical company, has recently reported its financial results for Q4 FY23 and the full fiscal year. The company’s PAT (Profit After Tax) for the quarter was INR 7.92 billion, a significant decline of 43% compared to the corresponding period last year when it was INR 13.79 billion. However, the company’s revenue … Read more
Belgian chemicals group Solvay has reported strong financial results for Q1 2023, with higher-than-expected net sales and underlying EBITDA. Although lower volumes impacted the company’s shares, Solvay’s ongoing focus on higher pricing in all segments has helped to offset the negative effects of softer demand across several end markets. Net Sales in Q1 2023 Grew … Read more
DuPont, a leading chemical company, has reported an 8% decrease in net sales in the recent quarter. This decrease was primarily due to a 3% decline in organic sales, along with 3% currency headwinds and a 2% unfavorable portfolio impact. The decline in organic sales was largely due to a 7% decrease in volume, which … Read more
Covestro, a leading global supplier of high-performance polymer materials, reported its first quarter 2023 results. Despite a challenging business environment and weak demand, the company exceeded its own and analysts expectations. Group sales were down 20.1% to EUR 3.7 billion, and EBITDA was 64.5% lower year over year at EUR 286 million. However, the company’s … Read more
LyondellBasell Industries N.V. (LYB) reported lower earnings for the first quarter of 2023 compared to the same period last year, primarily due to weak margins. Despite this, the company continues to anticipate a slight increase in global demand driven by seasonal trends, with transportation fuel demand expected to increase over the summer. Financial Results LyondellBasell … Read more
Linde plc, a leading global supplier of industrial gases, reported impressive first-quarter 2023 financial results, exceeding analysts’ expectations. The company’s quarterly revenues of $8,193 million also beat market estimates. Revenue Performance Linde’s total revenues for the quarter declined from the year-ago quarter’s $8,211 million. However, the company’s strong earnings were driven by increased prices and … Read more
BASF, a leading chemical company headquartered in Germany, recently released its first-quarter statement for the 2023 business year, reporting sales of €20.0 billion, which is down by €3.1 billion compared to the prior-year quarter. Despite a challenging economic environment, the company’s EBIT before special items of €1.9 billion were significantly above average analyst estimates. Sales … Read more
Chennai Petroleum Corporation Ltd (CPCL) has recorded a commendable financial performance for the financial year 2023. This can be attributed to factors such as improved capacity utilization, the addition of Russian crude to its portfolio, higher sales of value-added products, and cost savings in energy usage. Q4 Results – QoQ Chennai Petroleum Corporation Limited (CPCL) … Read more
Dow Inc., a leading chemicals and materials manufacturer, reported a loss of $93 million in Q1 2023. This compares to a profit of $1,569 million in the same period a year ago. The company saw lower sales across its segments in the quarter due to weaker macroeconomic activity globally, which resulted in a 22% year-over-year … Read more
India’s Reliance Industries Limited (RIL) has reported a significant increase in profitability in its oil-to-chemical (O2C) business. This is attributed to India sourcing cheaper crude oil from Russia. Despite global uncertainties and disruptions in commodity trade flows, the company’s O2C segment posted its highest-ever operating profit. Chairman and Managing Director Mukesh Ambani noted that RIL’s … Read more
Akzo Nobel, a Dutch paints and coatings manufacturer, has reported better-than-expected demand in Europe and China as its first-quarter operating profit exceeded forecasts. The company attributed the positive results to higher prices and the reopening of China’s economy. While the company had raised prices to offset the steep raw material costs last year, it had … Read more
Merck, a leading science and technology company, has reported a strong performance in the fiscal year 2022, delivering profitable growth despite challenges. The company’s group net sales increased by 12.9% (organically: 6.4%) to €22,232 million compared with the previous year, driven by all regions and business sectors, particularly Life Science. The Big 3 businesses – … Read more
Celanese Corporation (NYSE: CE), a global chemical and specialty materials company reported its financial results for the full year and fourth quarter of 2022. The company delivered a robust financial performance in 2022 despite the challenges posed by COVID-19, supply chain disruptions, and other external factors. Net Sales: Celanese Corporation generated record net sales of … Read more
Arkema, a French multinational chemical company, has announced its 2022 full-year financial results, reporting impressive growth in sales and EBITDA, despite a challenging macroeconomic environment. The company also provided its outlook for 2023, which includes the continuation of its strategic priorities and the implementation of its cutting-edge innovation focused on sustainable development and decarbonization. Sales … Read more
Sinomine Resources Group, a top Chinese provider of battery-grade lithium fluoride, has announced its plans to expand its resources by acquiring a majority stake in a lithium ore mine in Mongolia for $20 million. The deal entails Sinomine buying 51% of a universal recycling technology lithium ore project in Mongolia’s Tsagan Chuluut region from Lithium … Read more
DuPont, a leading global chemical company, recently released its fourth quarter and full year 2022 results. The company’s net sales showed a decline in the fourth quarter of 2022, while it increased in the full year 2022. In this article, we will delve into the details of DuPont’s financial performance and analyze the key drivers … Read more