Cytec (CYT) Sees Q2 EPS Above Views; Cites Strong Performance in In Process Separation and Coating Resins

July 13, 2012 8:08 AM EDT
Cytec Industries Inc. (NYSE: CYT) announced today that it estimates its adjusted earnings per diluted share for the second quarter of 2012 to be between $1.50 and $1.55 per share.

The Street sees EPS of $1.05.

The main drivers for the quarter's excellent results are strong performance in the In Process Separation and Coating Resins business segments. Engineered Materials and Additive Technologies performed well and are on track with prior guidance. Excluded from adjusted earnings per share amounts are restructuring and other charges related to the Coating Resins sale process and the acquisition of Umeco.

Cytec will issue its second quarter 2012 earnings release on July 19, 2012 with the Coating Resins segment reported as discontinued operations. The company will also provide updated full year 2012 guidance.

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