Union Carbide Posts $290-Million Profit
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Union Carbide reported third quarter 1986 net income of $290 million, or $2.94 per share, reflecting a gain of $252 million from the disposal of businesses. A year earlier the company posted a $543 million loss, including $620 million of extraordinary charges related to the firm’s 1985 restructuring program.
Revenue for the quarter ended Sept. 30, declined 2%.
The company’s largest segment--chemicals and plastics--had an operating profit nearly four times that of the 1985 period. Industrial Gases results rose 8% due to improved domestic operations.
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