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Markets :: Specialty Chemicals :: Lubricants
Lubrizol's Earnings Beat Analyst Estimates
5:51 PM MDT | April 27, 2011 | Nancy Seewald
Lubrizol’s first-quarter earnings rose 4% from the same period last year, to $169.5 million, including charges of $9.1 million related primarily to Berkshire Hathaway’s proposed acquisition of Lubrizol. Sales rose 15%, to $1.52 billion, on higher volumes and selling prices, and improved product mix. Adjusted earnings, excluding merger-related and restructuring costs of 14 cts/share, were $2.71/share, well above analysts’ consensus of $2.53/share as reported by Reuters Thomson (New York)....
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