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Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients
Albemarle earnings fall YOY, but beat estimates
4:06 PM MST | January 28, 2014 | Vincent Valk
Albemarle today reported fourth-quarter adjusted earnings of $88.4 million, or $1.08/share, down 16% year-on-year (YOY), but ahead of analysts' consensus estimate of $1.04/share as reported by Thomson Reuters (New York). Adjusted earnings excluded a large pension benefit – including this benefit, earnings totaled $155.9 million, or $1.91/share. Net sales were up 0.6%, to $692 million, on higher volumes in polymers and catalysts. Catalysts segment sales were up 4% YOY, to $306.2 million, while segment income rose 2%, to $80.1 million. Strong volumes in...
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