EmailSolutia (SOA $14.56 -1.52) lowered its fiscal year 2011 adjusted
earnings guidance to $1.95 to $2.05 from $2.10 to $2.25 versus the $2.17 Capital
IQ Consensus Estimate.
This update reflects a slower than expected demand profile primarily for
products that serve truck and bus, solar, and electronic end markets, and
continued raw material cost pressure. The company continues to premise solid
year-over-year growth in net sales and adjusted EPS for the full-year 2011.
The company said, "Coming out of the second quarter, we expected that sales
volumes in our key product lines would experience growth in the back half of
2011 versus the first half of the year. Unfortunately, we have not seen an
improved volume pattern develop, and the self-fulfilling nature of lower
economic expectations associated with continued volatility in financial markets
over the past month has impacted the company's outlook for the remainder of the
year."
In the second half of 2011, the company sees adjusted earnings of $0.89 to $0.99
per share (~45% of Q3) versus the $1.10 consensus.
than one year.
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