Albemarle Earnings Drop, But Beat Expectations
BATON ROUGE (AP) — Specialty chemicals maker Albemarle Corp. reports third-quarter earnings dropped to $72.8 million, or 93 cents per share, from $90.5 million, or $1.11 per share a year ago. But the company's performance beat Wall Street expectations.
Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $1.14 per share. That's up from $1.09 in the third quarter of 2013.
The Advocate reports the Baton Rouge business had net sales of $642.4 million in the quarter, up from $591.2 million during the same period in 2013, thanks to high sales volumes across its catalyst solutions business and bromine products.