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.