Albemarle (ALB) Tops Q1 EPS by 8c, Updates FY Guidance

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May 3, 2017 5:06 PM EDT

Albemarle (NYSE: ALB) reported Q1 EPS of $1.05, $0.08 better than the analyst estimate of $0.97. Revenue for the quarter came in at $722.1 million versus the consensus estimate of $682.55 million.

  • Initiated $250 million accelerated share repurchase program, retiring approximately 1.9 million shares in the first quarter

Outlook

Our strong start to 2017 in Lithium and Bromine Specialties, and continued favorable outlooks in both businesses have made us more optimistic about full year 2017. Based on this we are raising our annual guidance as follows:

Previous Outlook

Increase

Current Outlook

Net sales

$2.8 - $2.95 billion

$0.1 billion

$2.9 - $3.05 billion

Adjusted EBITDA

$800 - $840 million

$35 million

$835 - $875 million

Adjusted EPS (per diluted share)

$4.00 - $4.25

$0.20

$4.20 - $4.40

For earnings history and earnings-related data on Albemarle (ALB) click here.


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