Issue 16/2019 - The chemical giant's Q2 results at a glance

DowDuPont reported second-quarter GAAP net income of $90 million, earnings before interest and taxes (EBIT) of $1.
1 billion and net sales of $11 billion, down 14 percent
from the year-ago pro form.
The decrease was due to lower local polyethylene, siloxane and isocyanate prices and lower
sales of hydrocarbon by-products.
Operating EBIT was $1.
1 billion, down 35 percent
from the year-ago pro forma.


WACKER's earnings before interest, taxes, depreciation and amortization (EBITDA) in the second quarter amounted to €211 million, down 19 percent
year-on-year, driven by significantly lower polysilicon prices, lower prices for standard silicones and higher energy costs.
Sales in the second quarter were €1.
27 billion, down 5% year-on-year and up 3%
sequentially.
The EBITDA margin for the second quarter was 16.
6 percent
.
Total sales in 2019 are expected to grow by a mid-single-digit percentage, with EBITDA expected to decrease by 10 to 20 percent
from the previous year.


LANXESS sales in the second quarter amounted to €1.
810 billion, down 1.
0 percent from €1,829 million last year; Net income increased by 3.
1% from €97 million to €100 million; EBITDA amounted to €286 million, down 1.
4 percent
from €290 million in the prior-year quarter.
Earnings are expected to weaken slightly in the third quarter and slightly better in the fourth quarter than last year; For the full year 2019, EBITDA will reach between €1 billion and €1.
05 billion
.


Evonik's sales in the second quarter fell 3 percent year-on-year to €3.
31 billion, and adjusted EBITDA fell 8 percent to €566 million
.
Compared to the first quarter, all three segments achieved revenue growth
.
Business is expected to continue to develop steadily in the second half of the year, and sales and adjusted EBITDA from the Company's continuing operations are expected to be at least the same
as last year in fiscal 2019.


Huntsman reported second-quarter net income of $118 million, adjusted net income of $146 million and adjusted EBITDA of $318 million
.
Net income for the first half of 2019 was $249 million, adjusted net income was $254 million and adjusted EBITDA was $575 million
.


Corning second-quarter GAAP sales of $2.
9 billion, up 7% year-over-year; Core sales of $3.
0 billion increased 8% year-over-year; Sales growth in all business units ranged from 10 to 15 percent to meet the full-year 2019 sales target
.
The strong growth was driven by the company's superior technology and manufacturing leadership and recent investments
in several business areas.


Eastman's second-quarter sales revenue was $2.
363 billion, down 9.
8% year-over-year; EBIT was $371 million, down 24.
4% year-over-year.
Adjusted EBIT of $389 million decreased 12.
9% year-over-year and increased 11%
sequentially.


ExxonMobil's net income attributable to common shareholders in the second quarter was $3.
130 billion, down 21% from $3.
95 billion in the year-ago quarter.
Operating income in the second quarter was $69.
091 billion, down 6% from $73.
501 billion in the same period last year and higher than market expectations of $65.
202 billion
.


Shell's revenue in the second quarter was $90.
544 billion, compared to $96.
765 billion in the same period last year, down 6% year-on-year; The net profit attributable to the parent was US$2.
998 billion, compared to US$6.
024 billion in the same period last year, a year-on-year decrease of about 50%; In the first half of fiscal 2019, the company's revenue was US$174.
278 billion, down from US$186 billion in the same period last year, and the net profit attributable to the parent was US$8.
999 billion, down from US$11.
923 billion
in the same period last year.


BP's operating income in the second quarter was $73.
747 billion, down 4.
11% year-on-year; Net income attributable to shareholders was $1.
822 billion, down nearly 35% from $2.
799 billion in the year-ago quarter, but higher than expected
.
This was due to strong oil and gas production growth offsetting lower
oil prices.
Total revenue in the first half of 2019 reached US$141.
154 billion, a year-on-year decrease of 3.
35%; Net profit attributable to shareholders was US$4.
756 billion, down 9.
7%
year-on-year.


CHEVRON'S SECOND-QUARTER NET INCOME WAS $4.
3 BILLION, UP 26%
YEAR-OVER-YEAR.
Second-quarter earnings were helped by record quarterly production (average production rose 9.
1 percent per day to 3.
08 million barrels) and was partially offset by lower oil and gas prices by an acquisition termination fee charged by Anadarko Energy
.
Net profit in the first half of 2019 reached US$6.
954 billion, basically unchanged
from US$7.
047 billion in the same period last year.