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Lubrizol Earnings Jump on Improved Volumes, Selling Prices
8:16 AM MDT | July 29, 2010 | Kerri Walsh
Lubrizol reported second-quarter net income up 46%, to $201.7 million ($2.88/share), excluding restructuring charges totaling $300,000 in the advanced materials unit. Earnings soared 53% including special items. The consensus of analysts' estimates as reported by Thomson Reuters was for $2.38/share. A 19% jump in volumes and improved selling prices drove stronger sales and earnings results, Lubrizol says. “In a continuation of first quarter trends, all product lines and geographic markets experienced strong year-over-year and sequential volume...
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