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Albemarle earnings fall but beat estimates

4:05 PM MDT | April 16, 2014 | Vincent Valk

Albemarle today reported net income down 32.6% year-on-year (YOY), to $56.6 million, or 71 cts/share, on net sales up 2.3%, to $656.7 million. Net income fell primarily due to charges related to pension and retiree benefits, while sales rose mostly on higher volumes throughout the company. Excluding the charges, net income declined 7.3% YOY, to $76.7 million, or 96 cts/share, slightly ahead of analysts’ consensus estimate of 95 cts/share, as reported by Thomson Reuters (New York). "Despite the impact of inclement weather on our operations, first...

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