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Albemarle updates earnings guidance

9:48 AM MST | December 18, 2013 | Vincent Valk

Albemarle said today it expects fourth-quarter earnings to total $83-$88 million, or $1.02-$1.07/share, with full-year 2013 earnings totaling $4-$4.05/share. This compares with analysts’ expectation of $1.21/share for fourth-quarter earnings and $4.20/share for full-year earnings. 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...

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