Albemarle Corporation Q1 Profit Increases, beats estimates

(RTTNews) - Albemarle Corporation (ALB) released earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $253.38 million, or $2.15 per share. This compares with $95.68 million, or $0.84 per share, in last year's first quarter.

Excluding items, Albemarle Corporation reported adjusted earnings of $280.15 million or $2.38 per share for the period.

Analysts on average had expected the company to earn $1.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 36.1% to $1.13 billion from $0.83 billion last year.

Albemarle Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $253.38 Mln. vs. $95.68 Mln. last year. -EPS (Q1): $2.15 vs. $0.84 last year. -Analyst Estimate: $1.63 -Revenue (Q1): $1.13 Bln vs. $0.83 Bln last year.

-Guidance: Full year EPS guidance: $9.25 - $12.25 Full year revenue guidance: $5.2 - $5.6 Bln