Albemarle Shares Jumped 13.7% as Q1 Earnings and Revenues Beat Estimates
Tiger Newspress2022-05-05
Albemarle shares jumped 13.7% as Q1 earnings and revenues beat estimates.
Albemarle (ALB) came out with quarterly earnings of $2.38 per share, beating the Zacks Consensus Estimate of $1.73 per share. This compares to earnings of $1.10 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 37.57%. A quarter ago, it was expected that this specialty chemicals company would post earnings of $0.96 per share when it actually produced earnings of $1.01, delivering a surprise of 5.21%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Albemarle , which belongs to the Zacks Chemical - Diversified industry, posted revenues of $1.13 billion for the quarter ended March 2022, surpassing the Zacks Consensus Estimate by 8.63%. This compares to year-ago revenues of $829.29 million. The company has topped consensus revenue estimates three times over the last four quarters.
Albemarle shares have lost about 15.7% since the beginning of the year versus the S&P 500's decline of -12.4%.
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