Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Article excerpt

BAYER RESULTS LOWERED BY FOREIGN EXCHANGE RATES

Bayer said first-quarter sales and net income fell on negative foreign currency exchange rates. The global drug company cut its full-year revenue forecast to below last year's sales of 35 billion euros ($42 billion). Germany-based Bayer said first-quarter sales were 9.1 billion euros, down 5.6 percent from a year ago. Adjusted for the currency effects, sales rose 2 percent. Net income fell 6 percent to 1.96 billion euros. Negative effects of the exchange rate totaled about 160 million euros. The company has about 1,600 employees in the region.

KOPPERS INCOME, SALES RISE IN 1ST-QUARTER EARNINGS REPORT

Koppers Holdings said first-quarter net income more than tripled, to $17.8 million, or 81 cents per share, and sales jumped by 17 percent to $406.1 million, on a strong performance from its carbon chemicals business. Adjusted net income was $26.2 million, or $1.18 per share, beating estimates of 87 cents per share from analysts tracked by Bloomberg. Thomas Loadman, senior vice president, railroad products and services, will retire effective Dec. 31 after 39 years with Koppers. As of May 1, the railroad products business is being led by James Sullivan, senior vice president global carbon materials and chemicals, who will retain that job.

CONSOL'S SPLIT COMPANIES REPORT FIRST QUARTER APART

CNX Resources Corp. marked its first quarter as an oil- and gas-only firm with income of $527.5 million, or $2.35 per share, up from a loss of $39 million, or 17 cents per share a year ago. During the past quarter, the company nearly quadrupled its production in the Utica Shale and increased production of natural gas liquids by more than a third. Consol Energy Inc., meanwhile, reported as a coal-only company, posting net income of $70.1 million, or $2.20 per share. A cold winter in the U.S. and opportunities to export coal boosted operating revenue.

ANSYS BEATS EARNINGS EXPECTATIONS IN 1ST QUARTER

Ansys, a software simulation firm, beat analysts' earning expectations in the first quarter amid a newly announced office expansion at Southpointe. …

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