Carborundum Universal Q2 Profit Drops 35% Due to Russian Sanctions

Carborundum Universal, a company that makes things like abrasives and ceramics, had a tough second quarter.

Their profits went down by a third compared to last year.

This happened mostly because their branch in Russia had problems making money due to international sanctions.

Even though their overall sales went up a little bit, the issues in Russia hurt their final profit.

The company also saw a drop in profits for the first half of the year.

Some parts of their business, like ceramics and abrasives, did grow in sales, but the problems with the Russian subsidiary were a big setback for their overall financial results.