Albemarle: Q4 Earnings Snapshot
By AP News
Published - Feb 15, 2023, 06:18 PM ET
Last Updated - Jun 22, 2023, 09:25 PM EDT
CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Albemarle Corp. (ALB) on Wednesday reported fourth-quarter net income of $1.13 billion, after reporting a loss in the same period a year earlier.
The Charlotte, North Carolina-based company said it had profit of $9.60 per share. Earnings, adjusted for non-recurring gains, came to $8.62 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $8.46 per share.
The specialty chemicals company posted revenue of $2.62 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $2.63 billion.
