Albemarle: 4Q Earnings Snapshot

CHARLOTTE, N.C. (AP) _ Albemarle Corp. (ALB) on Wednesday reported fourth-quarter profit of $90.4 million.

The Charlotte, North Carolina-based company said it had profit of 85 cents per share. Earnings, adjusted for non-recurring costs, were $1.73 per share.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.75 per share.

The specialty chemicals company posted revenue of $992.6 million in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $1 billion.

For the year, the company reported profit of $533.2 million, or $5.02 per share. Revenue was reported as $3.59 billion.

Albemarle expects full-year earnings in the range of $4.80 to $5.10 per share, with revenue in the range of $3.48 billion to $3.53 billion.

Albemarle shares have climbed 22% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $89.02, a rise of 7% 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