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Albemarle: 1Q Earnings Snapshot

CHARLOTTE, N.C. (AP) _ Albemarle Corp. (ALB) on Wednesday reported first-quarter profit of $133.6 million.

On a per-share basis, the Charlotte, North Carolina-based company said it had profit of $1.26. Earnings, adjusted for non-recurring gains, came to $1.23 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.

The specialty chemicals company posted revenue of $832.1 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $807.8 million.

Albemarle expects full-year earnings in the range of $6.10 to $6.50 per share, with revenue in the range of $3.65 billion to $3.85 billion.

Albemarle shares have fallen nearly 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $72.73, a drop of 28% 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