Chemical Stock Earnings Due On Oct 24: DOW, EMN, AXTA & GRA
Zacks Investment Research | Oct 22, 2019 09:00PM ET
A few chemical companies are gearing up to report their quarterly numbers on Oct 24. Per the Zacks industry classification, the chemical industry is under the broader Dow Warms Up to Q3 Earnings: What's in the Offing? )
Dow Inc. Price and EPS Surprise
Eastman Chemical to Post Q3 Earnings: What's in Store? )
Axalta Coating Systems Ltd. (NYSE:AXTA) will report Q3 results before the bell. Our proven model does not conclusively predict an earnings beat for the company this time around. This is because it has an Earnings ESP of -1.86% and a Zacks Rank #4.
Axalta has outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering a positive average earnings surprise of 24.9%.
Revenues for Axalta for Q3 is projected to decline roughly 2% year over year as the Zacks Consensus Estimate for the quarter is currently pegged at $1,116 million. The Zacks Consensus Estimate for earnings currently stands at 45 cents.
Revenues from the company’s Performance Coatings division are expected to witness a 1.9% decline year over year as the Zacks Consensus Estimate for Q3 is pegged at $741 million. The same for the Transportation Coatings unit is pegged at $375 million, indicating a 2.3% year-over-year decline.
The company’s productivity actions are likely to have contributed to its bottom line in Q3. However, headwinds from input cost inflation are likely to reflect in Q3 results, although lesser than what was witnessed in Q2.
W. R. Grace & Co. (NYSE:GRA) will report Q3 results ahead of the bell. Our proven model does not conclusively predict that the company is likely to beat the Zacks Consensus Estimate this quarter. This is because it has an Earnings ESP of 0.00% and a Zacks Rank #4.
The company posted better-than-expected results in each of the last four quarters. The average earnings surprise was a positive 6.7%.
The Zacks Consensus Estimate for revenues for the to-be-reported quarter stands at $490.3 million, reflecting a decrease of 0.9% from the year-ago quarter. The Zacks Consensus Estimate for earnings is currently pegged at 92 cents.
The company’s Q3 performance is likely to have been impacted by a North American FCC catalyst customer’s bankruptcy and operational shutdown, a customer-specific inventory correction in specialty catalysts and an equipment failure that led to manufacturing disruption at one of the company’s silica manufacturing plants. However, benefits of the company’s cost-reduction actions are expected to get reflected on Q3 results.
Get The News You Want
W.R. Grace & Co. Price and EPS Surprise
Zacks Investment Research
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.