Albemarle (ALB) Tops Q2 Earnings Estimates, Ups FY19 EPS View
Zacks Investment Research | Aug 08, 2019 06:51AM ET
Albemarle Corporation (NYSE:ALB) recorded a profit of $154.2 million or $1.45 per share in the second quarter of 2019, down 49% from $302.5 million or $2.73 per share it earned year ago.
The bottom line in the year-ago quarter was boosted by $176.7 million (post tax) gain on the divestment of the polyolefin catalysts and components portion of the Performance Catalyst Solutions business.
Adjusted earnings for the reported quarter were $1.55 per share, up 14% year over year. It trounced the Zacks Consensus Estimate of $1.41.
Revenues rose around 4% year over year to $885.1 million in the quarter. It also surpassed the Zacks Consensus Estimate of $876.3 million. Revenues were aided by higher volumes across the company’s lithium and bromine businesses and favorable pricing across the board.
Albemarle Corporation Price, Consensus and EPS Surprise
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