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Albemarle: 4Q Earnings Snapshot

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CHARLOTTE, N.C. (AP) _ Albemarle Corp. (ALB) on Wednesday reported fourth-quarter earnings of $84.6 million.

The Charlotte, North Carolina-based company said it had net income of 79 cents per share. Earnings, adjusted for non-recurring costs, came to $1.17 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.

The specialty chemicals company posted revenue of $879.1 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $876.2 million.

For the year, the company reported profit of $375.8 million, or $3.52 per share. Revenue was reported as $3.13 billion.

Albemarle expects full-year earnings in the range of $3.25 to $3.65 per share, with revenue in the range of $3.2 billion to $3.3 billion.

Albemarle shares have risen roughly 7% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $157.47, an increase of 78% in the last 12 months.

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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