Albemarle: Q3 Earnings Snapshot
CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Albemarle Corp. (ALB) on Wednesday reported a loss of $160.7 million in its third quarter.
The Charlotte, North Carolina-based company said it had a loss of $1.72 per share. Losses, adjusted for non-recurring costs, were 19 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 92 cents per share.
The specialty chemicals company posted revenue of $1.31 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $1.29 billion.
Albemarle shares have risen roughly 7% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $91.96, a fall of almost 8% 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