Shares of Albemarle climbed more than 9 percent in afternoon trade Tuesday after the company reported a strong earnings and guidance beat for its fourth quarter.
Albemarle reported earnings of 78 cents on revenue of $696.7 million while the Street expected earnings of 72 cents per share on revenue of $646.4 million, according to FactSet consensus estimates.
The specialty chemicals company also reported a 2017 guidance beat, posting an earnings range of $4.00 per share to $4.25 per share on revenues of $2.8 billion to $2.95 billion, compared to analyst’s earnings estimates of $4.08 per share on revenue of $2.78 billion, according to FactSet consensus estimates.
