Cytec Industries (CYT) Tops Q1 EPS by 9c; Lifts Outlook

Cytec Industries (NYSE: CYT) reported Q1 EPS of $0.82, $0.09 better than the analyst estimate of $0.73.

Cytec Industries sees FY2015 EPS of $3.15-$3.35, versus the consensus of $3.20. In Aerospace Material, annual sales are now estimated in a range between $1,040 and $1,080 million, up from $1,025 and $1,085 million and representing about 6% top line growth, and our forecast for annual operating earnings is now estimated in a range between $200 and $210 million, up from $195 and $205 million, which is about 15% growth versus the prior year.

Shane Fleming, Chairman, President and Chief Executive Officer commented, "Our first quarter results reflect a solid start to the year, with adjusted EPS up 15% versus the prior year quarter. Aerospace Materials delivered excellent results due to volume growth in both commercial transport and military sectors, and the In Process Separation segment also performed very well driven by strong demand for our specialty mining products. Both businesses translated the higher volumes into increased operating margins for the quarter. Overall, I am pleased with our results as we continue to execute our growth strategy."

For earnings history and earnings-related data on Cytec Industries (CYT) click here.

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