Albemarle Corporation Q1 adjusted earnings Beat Estimates

(RTTNews) - Albemarle Corporation (ALB) announced a profit for first quarter that declined from the same period last year.

The company's earnings came in at $107.2 million, or $1.01 per share. This compares with $133.6 million, or $1.26 per share, in last year's first quarter.

Excluding items, Albemarle Corporation reported adjusted earnings of $106.39 million or $1.00 per share for the period.

Analysts had expected the company to earn $0.83 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.2% to $738.8 million from $832.1 million last year.

Albemarle Corporation earnings at a glance:

-Earnings (Q1): $106.39 Mln. vs. $130.99 Mln. last year. -EPS (Q1): $1.00 vs. $1.23 last year. -Analysts Estimate: $0.83 -Revenue (Q1): $738.8 Mln vs. $832.1 Mln last year.

-Guidance: Next quarter revenue guidance: $700 - $775 Mln