Albemarle Corporation Q2 Profit Increases, beats estimates

August 02, 2023 — 04:42 pm EDT

Written by RTTNews.com for RTTNews

(RTTNews) - Albemarle Corporation (ALB) announced earnings for its second quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $650.04 million, or $5.52 per share. This compares with $406.77 million, or $3.46 per share, in last year's second quarter.

Excluding items, Albemarle Corporation reported adjusted earnings of $863.62 million or $7.33 per share for the period.

Analysts on average had expected the company to earn $4.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 60.1% to $2.37 billion from $1.48 billion last year.

Albemarle Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $650.04 Mln. vs. $406.77 Mln. last year. -EPS (Q2): $5.52 vs. $3.46 last year. -Analyst Estimate: $4.44 -Revenue (Q2): $2.37 Bln vs. $1.48 Bln last year.

-Guidance: Full year EPS guidance: $25.00 - $29.50 Full year revenue guidance: $10.4 - $11.5 Bln

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Albemarle Corporation Q2 Profit Increases, beats estimates

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