Carbide’s Earnings Up

DANBURY (AP) — Union Carbide Corp. today said its earnings rose 26 percent in the first quarter, before the effect of an accounting change.

Net income was $97 million, or 71 cents per share, compared with $77 million, or 56 cents per share, in the same period a year ago, before the accounting change.

William H. Joyce, Carbide’s chairman and chief executive officer, said lower earnings from basic chemicals and polymers were offset by actuarial changes in the company’s pension plan and the absence of an environmental accrual that had hurt earnings in the fourth quarter of 1999.

The company said it would release a full earnings report on Monday.