Albemarle: Q2 Earnings Snapshot
CHARLOTTE, N.C. (AP) _ Albemarle Corp. (ALB) on Wednesday reported second-quarter earnings of $406.8 million.
The Charlotte, North Carolina-based company said it had net income of $3.46 per share. Earnings, adjusted for non-recurring gains, were $3.45 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $3.03 per share.
The specialty chemicals company posted revenue of $1.48 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $1.37 billion.
Albemarle expects full-year earnings in the range of $19.25 to $22.25 per share, with revenue in the range of $7.1 billion to $7.5 billion.
Albemarle shares have risen 2.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $239.54, an increase of 16% in the last 12 months.