Key Developments: Cytec Industries Inc (CYT)
72.06USD
24 May 2013
$0.11 (+0.15%)
$71.95
$71.57
$72.77
$71.12
579,882
579,768
$78.65
$54.65
Latest Key Developments (Source: Significant Developments)
Cytec Industries Inc Lowers FY 2013 EPS Guidance-Conference Call
Cytec Industries Inc announced that it has revised earnings per share (EPS) forecast for the remainder of 2013 taking into account the current demand environment. The Company new estimate for fiscal 2013 adjusted diluted earnings per share is in a range of $4.50 to $4.75, down from the Company's prior guidance of $4.70 to $4.95. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $4.66 for fiscal 2013. Full Article
Cytec Industries Inc Issues FY 2013 Guidance In Line With Analysts' Estimates-Conference Call
Cytec Industries Inc announced that for fiscal 2013, it expects adjusted diluted earnings per share for continuing operations is in the range of $4.70 to $4.95 on sales from continuing operations of approximately $2 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $2.1 billion and EPS $4.83 for fiscal 2013. Full Article
Cytec Industries Inc Declares Quarterly Dividend
Cytec Industries Inc announced that the Company’s Board of Directors declared a regular quarterly cash dividend of $0.125 per share on the common stock of the Company, payable on February 25, 2013 to shareholders of record as of February 11, 2013. Full Article
Cytec Industries Inc Raises FY 2012 EPS Guidance-Conference Call
Cytec Industries Inc announced that fiscal 2012 sales and earnings outlook for continuing operations has been updated in October 18 earnings call. At the midpoint of guidance, CEM and IPS will deliver well over 10% year-over-year top-line growth and over 30% operating earnings growth, demonstrating the strong revenue growth these segments can deliver even during uncertain economic conditions as well as the outstanding earnings leverage on this sales growth. Fiscal 2012 adjusted EPS range for continuing operations is $2.84 to $3.03 per share, which is up from second quarter guidance of $2.65 to $2.90, with the increase coming from a favorable outcome to a US tax audit and exceptional performance in the IPS segment. Full Article
Cytec Industries Inc To Sell Coating-Resins Business For $1.03 Billion; Expands Buyback Plan-DJ
Dow Jones reported that Cytec Industries Inc has agreed to sell its coating-resins business to private-equity firm Advent International for about $1.03 billion. The deal, expected to close in the first quarter of next year, also includes assumed liabilities of $118 million, bringing the total value of the transaction to roughly $1.15 billion. The Company's Board also approved an additional $452 million for the Company's stock buyback program, bringing the total authorization to about $650 million. The Company plans to use some of the proceeds from the coating-resins business divestiture to fund the buyback. Full Article
Advent International Corp, Apollo Global Management LLC And Other Potential Buyers Emerge For Cytec Industries Inc's Unit-Reuters
Reuters reported that a number of bidders have emerged for the coating resins business of Cytec Industries Inc that could raise up to $1.3 billion, The Wall Street Journal reported. The bidders include private-equity firms Advent International Corp, Apollo Global Management LLC and Blackstone Group LP along with Japan's Mitsubishi Chemical Holdings Corporation. The private-equity arm of New York investment banking firm Rhône Group LLC has also bid for the unit. Full Article
Cytec Industries Inc. Lowers FY 2012 Revenue Guidance; Issues FY 2012 EPS Guidance Below Analysts' Estimates-Conference Call
Cytec Industries Inc. announced that for fiscal 2012, it expects adjusted diluted earnings per share (EPS) in the range of $4.35-$4.65 on sales of $3.19-$3.27 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $3.27 billion and EPS $5.73 for fiscal 2012. Full Article
Cytec Industries Inc. Issues FY 2012 Revenue Guidance In Line With Analysts' Estimates-Conference Call
Cytec Industries Inc. announced that for fiscal 2012, it expects revenue growth of at least 10% above fiscal 2011. The Company reported revenue of $3.073 billion for fiscal 2011. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $3.137 billion for fiscal 2012. Full Article
Cytec Industries Inc. Lowers FY 2011 EPS Guidance; Reaffirms FY 2011 Revenue Guidance-Conference Call
Cytec Industries Inc. revised fiscal 2011 guidance and expects continuing adjusted diluted earnings per share (EPS) to be in a range of $3.20 to $3.40 on sales of $3 billion to $3.2 billion, versus the prior projection of $3.25 to $3.50. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $3.1 billion and EPS of $3.27 for fiscal 2011. Full Article
Cytec Industries Inc. Raises Lower End Of FY 2011 EPS Guidance; Raises FY 2011 Sales Guidance-Conference Call
Cytec Industries Inc. announced that for fiscal 2011, Company revises earnings per share (EPS) to be in a range of $3.25-$3.50 on sales of $3-$3.2 billion, versus the prior projection of $3.15-$3.50 on sales of $2.9-$3 billion. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $3.43 and revenue of $3.1 billion for fiscal 2011. Full Article
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