The fourth-quarter earnings mark the sixth consecutive quarter of record sales and adjusted EBIT for the leader in specialty coatings, sealants, and building materials.
The materials group and solutions group both reported losses, yet with the implementation of cost-saving solutions, the company remains optimistic for the next quarter.
Financial performance for the quarter that resulted in a 32% decline in year-over-year adjusted EBITDA led to the decision to close its titanium dioxide manufacturing facility.
Despite the decline in year-over-year sales, Arkema highlights the positive momentum in its sustainability strategy, its advantageous acquisitions, and its move towards specialty materials.
Dow recently reported that its first quarter of 2023 saw a decline in sales, volume, local price, and earnings per share compared to the year-ago period.