Union Carbide said its second-quarter earnings declined...

Union Carbide said its second-quarter earnings declined 20% from the same period a year ago. The company attributed the drop to lower sales, particularly of petrochemicals, metals and carbons. The company reported that its gross margin ratio, at 31.5% in the second quarter, was the highest for any quarter in nine years.

Monsanto Co., citing the “difficult economic environment” for chemical companies, reported that its net second-quarter earnings this year declined about 14% from last year. Monsanto’s revenue retreated to $1.63 billion, down 9% from a year earlier.

Weyerhaeuser Co. reported a 43% decline in its second-quarter earnings from the comparable period of 1984. Revenue fell 5%. The firm said the lower profits were attributable to excess supply in the lumber and plywood markets, which depressed prices, and to export markets for all products, which continued to suffer from the competitive effect of the strong dollar.

Republic Airlines reported record profits for the the second quarter ended June 30. This included extraordinary items of $80.2 million, consisting of a one-time gain of $62.2 million related to a change in the method of providing for pilots’ pensions and $18 million resulting from the utilization of tax-loss carry-forwards.

SmithKline Beckman posted a 1% increase in second-quarter net income on an 8% rise in revenue. The company blamed the smallness of the increase to a higher estimated tax rate of 31%. Last year, the company’s estimated tax rate was 28.3%.

Richmond, Va.-based Reynolds Metals reported second-quarter net income dropped 86% from the like 1984 quarter. David P. Reynolds, chairman and chief executive, said results in the latest quarter reflected continued weak aluminum prices and high levels of imports.

The New York Times Co. reported that its second-quarter earnings rose 13% on higher results from its newspaper and broadcast-cable groups. Revenue rose 13% from a year earlier. The newspaper group, made up of the New York Times and 33 dailies and weeklies, had a 16% increase in operating profit for the quarter that reflected gains in advertising, circulation rates, volume and operating efficiency and the acquisition of five newspapers during the quarter.

For detailed data and results of other companies, please see accompanying tables.