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Albemarle: 3Q Earnings Snapshot

November 7, 2018

CHARLOTTE, N.C. (AP) _ Albemarle Corp. (ALB) on Wednesday reported third-quarter net income of $129.7 million.

The Charlotte, North Carolina-based company said it had profit of $1.20 per share. Earnings, adjusted for non-recurring costs, came to $1.31 per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.

The specialty chemicals company posted revenue of $777.7 million in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $804.4 million.

Albemarle expects full-year earnings in the range of $5.30 to $5.50 per share, with revenue in the range of $3.3 billion to $3.5 billion.

Albemarle shares have dropped 16 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $107.96, a fall of 25 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALB at https://www.zacks.com/ap/ALB

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