AP NEWS

Albemarle: 3Q Earnings Snapshot

November 6, 2019

CHARLOTTE, N.C. (AP) _ Albemarle Corp. (ALB) on Wednesday reported third-quarter profit of $155.1 million.

On a per-share basis, the Charlotte, North Carolina-based company said it had net income of $1.46. Earnings, adjusted for non-recurring costs, came to $1.53 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.

The specialty chemicals company posted revenue of $879.7 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $898.9 million.

Albemarle expects full-year earnings in the range of $6 to $6.20 per share, with revenue in the range of $3.6 billion to $3.7 billion.

Albemarle shares have decreased 13% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $66.83, a decline of 38% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALB at https://www.zacks.com/ap/ALB