Wacker Chemie Posts Drop In Q3 Profit

German chemical company Wacker Chemie AG

reported a 79% drop in its third-quarter after-tax profit. Wacker Chemie's quarterly after-tax profit declined to EUR26.9 million, while sales declined 6.2% y/y to EUR1.2 billion. Its earnings per share fell 80% to EUR0.50, missing analysts' estimates of EUR0.68.