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Chemical Stocks Earnings to Watch on Oct 31: OLN, CBT, CHMT
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A few chemical companies are scheduled to release their quarterly numbers on Oct 31. The chemical industry falls under the broader Basic Materials sector. Based on the earnings scorecard as of Oct 26, 30% of the sector participants on the S&P 500 index have already reported their quarterly numbers. Earnings for these companies have increased 110.6% from the same period last year while revenues are up 0.3%, per the latest Earnings Outlook report.
Among the five out of the 16 Zacks sectors that are expected to see a fall in earnings this reporting cycle, Basic Materials is one as it is projected to witness an earnings decline of 0.8% on 3.1% lower sales
Chemical makers are gaining from strategic measures including expansion into high-growth markets, aggressive cost management and productivity actions as well as acquisitions. However, the industry is not devoid of challenges given a still weak agriculture market, currency headwinds, weak demand in the energy space (given depressed oil prices) and slowdown in China.
Let’s take a peek into three chemical companies that are slated to report their quarterly results on Oct 31.
Olin Corp. (OLN - Free Report) will report its third-quarter numbers after the close. The company missed estimates in three of the last four quarters while it met on one occasion, with an average negative surprise of 39.96%. This time, Olin is expected to come up with a positive earnings surprise as it has a favorable Zacks Rank #3 (Hold) and an Earnings ESP of +6.06%. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
The company surpassed the Zacks Consensus Estimate in two out of the four trailing quarters, while missed in two, with the average surprise being positive 2.07%. Cabot is expected to continue to gain from cost savings resulting from the restructuring measures undertaken by the company. (Read more: Cabot Corp.: Stock Poised to Beat Earnings in Q4?)
Chemtura Corporation , which is scheduled to report third-quarter numbers after the bell, has an Earnings ESP 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate stand at 48 cents. This is what makes surprise prediction difficult even though the company carries a Zacks Rank #2. The company beat the Zacks Consensus Estimate in three of the last four quarters with an average positive surprise of 4.68%.
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Chemical Stocks Earnings to Watch on Oct 31: OLN, CBT, CHMT
A few chemical companies are scheduled to release their quarterly numbers on Oct 31. The chemical industry falls under the broader Basic Materials sector. Based on the earnings scorecard as of Oct 26, 30% of the sector participants on the S&P 500 index have already reported their quarterly numbers. Earnings for these companies have increased 110.6% from the same period last year while revenues are up 0.3%, per the latest Earnings Outlook report.
Among the five out of the 16 Zacks sectors that are expected to see a fall in earnings this reporting cycle, Basic Materials is one as it is projected to witness an earnings decline of 0.8% on 3.1% lower sales
Chemical makers are gaining from strategic measures including expansion into high-growth markets, aggressive cost management and productivity actions as well as acquisitions. However, the industry is not devoid of challenges given a still weak agriculture market, currency headwinds, weak demand in the energy space (given depressed oil prices) and slowdown in China.
Let’s take a peek into three chemical companies that are slated to report their quarterly results on Oct 31.
Olin Corp. (OLN - Free Report) will report its third-quarter numbers after the close. The company missed estimates in three of the last four quarters while it met on one occasion, with an average negative surprise of 39.96%. This time, Olin is expected to come up with a positive earnings surprise as it has a favorable Zacks Rank #3 (Hold) and an Earnings ESP of +6.06%. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
OLIN CORP Price and EPS Surprise
OLIN CORP Price and EPS Surprise | OLIN CORP Quote
Cabot Corporation (CBT - Free Report) , which will report fiscal fourth-quarter earnings results after the bell, is expected to come up with a positive earnings surprise as it has an Earnings ESP of +7.45% and carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
The company surpassed the Zacks Consensus Estimate in two out of the four trailing quarters, while missed in two, with the average surprise being positive 2.07%. Cabot is expected to continue to gain from cost savings resulting from the restructuring measures undertaken by the company. (Read more: Cabot Corp.: Stock Poised to Beat Earnings in Q4?)
CABOT CORP Price and EPS Surprise
CABOT CORP Price and EPS Surprise | CABOT CORP Quote
Chemtura Corporation , which is scheduled to report third-quarter numbers after the bell, has an Earnings ESP 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate stand at 48 cents. This is what makes surprise prediction difficult even though the company carries a Zacks Rank #2. The company beat the Zacks Consensus Estimate in three of the last four quarters with an average positive surprise of 4.68%.
CHEMTURA CORP Price and EPS Surprise
CHEMTURA CORP Price and EPS Surprise | CHEMTURA CORP Quote
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