Specialty chemicals and advanced materials maker Rockwood Holdings, Inc. (ROC) Monday reported a profit for the third quarter, compared to a loss last year, due mainly to lower charges than previous year. The company's adjusted per share earnings topped analysts' estimate by four cents.
Income from continuing operations attributable to the company for the third quarter was $10.2 million or $0.14 per share, compared to a loss of $4.8 million or $0.06 per share in the previous year. Results for the quarter included adjustments amounted to $3.8 million, mainly including restructuring and severance costs of $3.2 million and foreign exchange gains of $3.3 million.
The company reported total adjustments amounted to $39.5 million in the third quarter of the previous year. This mainly included mark-to-market swap loss of $10.5 million, foreign exchange losses on financing activities of $29.8 million and tax allocation from other comprehensive income amounted to $7.5 million.
On an adjusted basis, net income from continuing operations declined to $14.0 million or $0.19 per share from $34.7 million or $0.45 per share last year.
On average, nine analysts polled by Thomson Reuters expected the company to report earnings of $0.15 per share for the quarter. Analysts' estimates typically exclude special items.
Net income for the quarter was $10.1 million or $0.13 per share, compared to net loss of $3.3 million or $0.04 per share last year.
Net sales for the quarter declined 10.7% to $786.2 million from $880.8 million a year ago. Analysts had a consensus revenue estimate of $752.66 million for the quarter.
By segment, sales from Specialty Chemicals declined 18.2% to $261.5 million from last year. Sales of Performance Additives were $182.2 million, down 18.4% from the previous year. Titanium Dioxide Pigments sales rose 26.2% to $177.5 million from the year ago quarter. Sales of Advanced ceramics and Specialty compounds declined 14.1% to $108.6 million and 20.1% to $54.8 million, respectively, from the previous year.
Selling, general and administrative expenses declined to $154.8 million from $170.3 million a year ago. Other expenses declined to $50.0 million from $82.0 million in the previous year. Interest expense declined to $54.0 million from $56.3 million last year.
For the nine-month period, net income declined to $10.3 million or $0.14 per share from $102.4 million or $1.33 per share in the same period of the previous year. Net sales for the period declined to $2.18 billion from $2.65 billion a year ago.
ROC is currently trading at $21.57, up 1.64 or 8.23%, on a volume of 171K shares on the NYSE.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.