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Sentiment · FY2026 Q1
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Kevin McCarthy | Vertical Research Partners | 6 | 17% |
| Jeff Zekauskas | JPMorgan | 6 | 83% |
| Vincent Andrews | Morgan Stanley | 6 | 17% |
| Hassan Ahmed | Alembic Global | 6 | 17% |
| Mike Sison | Wells Fargo | 6 | 17% |
| Frank Mitsch | Fermium Research | 5 | 0% |
| Dave Begleiter | Deutsche Bank | 5 | 0% |
| Chris Parkinson | Wolfe Research | 4 | 0% |
| Patrick Cunningham | Citigroup | 4 | 0% |
| Duffy Fischer | Goldman Sachs | 4 | 0% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Alembic Global | 1 | 6 | 17% |
| JPMorgan | 1 | 6 | 83% |
| Morgan Stanley | 1 | 6 | 17% |
| Wells Fargo | 1 |
| 6 |
| 17% |
| Vertical Research Partners | 1 | 6 | 17% |
| Fermium Research | 1 | 5 | 0% |
| Deutsche Bank | 1 | 5 | 0% |
| Wolfe Research | 1 | 4 | 0% |
Net sales of $9.8 billion declined 6% year-over-year with EBITDA of $873 million as Middle East conflict created unprecedented supply disruption, leading to a massive Q2 guidance of $2 billion EBITDA and $12 billion revenue on pricing momentum. CEO transition was announced with Karen Carter succeeding Jim Fitterling effective July 1. Transform to Outperform ramped with $193 million in period cost savings in Q1 while Americas cost advantage was reinforced by the global disruption.
Competitive Dynamics | Margin | Demand | Capital Allocation | Capex Investment | Pricing | Cost Pressure | Supply Chain | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 4 | 3 | 4 | 2 | 2 | 4 | 1 |
| 2025Q1 | 4 | 1 | 2 | 3 | 2 | 2 | 1 | |
| 2025Q2 | 4 | 4 | 4 | 5 | 1 | 2 | ||
| 2025Q3 | 3 | 3 | 4 | 4 | 2 | 2 | 1 | |
| 2025Q4 | 3 | 2 | 2 | 3 | 4 | 1 | 3 | 1 |
| 2026Q1 | 2 | 3 | 2 | 2 | 3 | 4 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Competitive Dynamics | 3 | 4 | 4 | 3 | 3 | 2 |
| Margin | 4 | 1 | 4 | 3 | 2 | 3 |
| Demand | 3 | 2 | 4 | 4 | 2 | 2 |
| Capital Allocation | 4 | 3 | 5 | 3 | 2 | |
| Capex Investment | 2 | 2 | 1 | 4 | 4 | |
| Pricing | 2 | 2 | 2 | 2 | 1 | 3 |
| Cost Pressure | 4 | 1 | 2 | 3 | ||
| Supply Chain | 1 | 1 | 1 | 4 |