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Lubrizol Cuts 2008 Earnings Estimate

12:57 PM MST | January 16, 2009 | Vincent Valk

Lubrizol says it has lowered its full-year earnings guidance for 2008 to $4.09/share, excluding restructuring and impairment charges, compared toprior guidance of $4.19-$4.34/share. Earnings for 2007 totaled $4.06/share. “During the first nine months of 2008, our volume growth was solid and we managed margins very well in a year marked by unprecedented volatility in raw material costs,” says CEO James Hambrick.  “However, we were not immune to the significant economic weakness and inventory destocking that affected our industry, as well as...

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