Abstract
Earnings of major U.S. chemical companies continued their strong growth in the third quarter, averaging 58% higher than the yearearlier period. The quarter just may have capped a string of year-to-year gains for major chemical firms as well as the major diversified companies that produce chemicals. Even as chemical producers and oil firms charted by C&EN were putting together their rosy sales and earnings reports for shareholders, the Dow Jones Industrial Average dropped 508 points. What this may portend for 1988 is, at the very least, difficult to say. The Dow Jones drop aside, the chemical industry registered a superb quarter. The 58% increase in earnings from the third quarter of 1986 the major chemical companies surveyed by C&EN came on a 17% growth in sales. Together they indicate that efficiency steps plus improved capacity utilization in many areas, notably plastics and even some basic chemicals, provided plenty of earnings leverage. Average profit margins slipped ...
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