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Albemarle updates earnings guidance

5:58 AM MST | December 20, 2013

Albemarle says it expects fourth-quarter earnings to total $83–88 million, or $1.02–1.07/share. This expectation compares with analysts’ expectation of $1.21/share. The shortfall is due to “more cautious inventory management by customers in fluid cracking catalysts, clear completion fluids and flame retardants, weaker-than-expected demand for brominated flame retardants, and certain orders slipping into 2014,” Albemarle says. The company has seen a “weakening of demand” in long-troubled electronics end markets, it says. Albemarle also expects to...

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