Albemarle Corp. Boosts Second-Quarter Profit
BATON ROUGE (AP) — Baton Rouge-based specialty chemicals maker Albemarle Corp. reports second-quarter 2015 earnings jumped to $52.1 million, or 46 cents per share, compared to $22.4 million, or 28 cents per share, a year ago.
However, after adjustments that included the value of recently acquired Rockwood Holdings' inventory, Albemarle turned a profit of $95.1 million, or 84 cents per share, compared to $86.8 million, or $1.10 per share, a year ago.
Stock analysts surveyed by Zacks Investment Research had forecast earnings of 82 cents per share.
Albemarle reported net sales of $931.5 million in the second quarter, compared to $604.7 million a year earlier. The increase was driven primarily by Rockwood.
CEO Luther Kissam IV tells The Advocate the company is reaffirming its full-year earnings guidance of $3.65 to $4.05 per share.