Chemical companies including DuPont, Air Products & Chemicals and PPG Industries say earnings declined in the first quarter, but, unlike in the fourth quarter of 2008, they had cost-cutting measures in place to ride out the storm. DuPont reported an earnings decrease of 59% compared with the same quarter of 2008, but the company said its cost-cutting strategies allowed for results along the lines of what it expected; Air Products & Chemicals said its future earnings also would benefit from cost reductions.

Related Summaries