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Lubrizol Swings to Profit, Beats Estimates

8:42 AM MST | February 4, 2010 | Nancy Seewald

Lubrizol reported fourth-quarter 2009 earnings of $134 million, compared with a loss of $281 million in the year-ago period. The 2009 quarter included a $2-million charge, while the 2008 quarter included charges totaling $330 million. Sales rose 9%, to $1.19 billion, on higher volume and favorably currency exchange rates, slightly offset by lower selling prices and unfavorable product mix. Adjusted earnings were $1.95/share, beating the consensus of analysts’ estimates of $1.75/share, as reported by Thomson Reuters (New York). Operating income in...

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