Albemarle Q1 Adj $0.26 Misses $0.27 Estimate, Sales $1.36B Beat $1.31B Estimate
Portfolio Pulse from Benzinga Newsdesk
Albemarle (NYSE:ALB) reported Q1 earnings of $0.26 per share, missing the consensus estimate of $0.27, a 97.48% decrease from last year's $10.32. Sales were $1.36B, beating the $1.31B estimate but down 47.26% from last year's $2.58B.
May 01, 2024 | 8:17 pm
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NEGATIVE IMPACT
Albemarle's Q1 earnings per share of $0.26 missed estimates by 3.7%, and sales of $1.36B exceeded expectations but showed a significant year-over-year decline.
The miss on earnings per share, despite a slight beat on sales, indicates potential challenges in profitability and operational efficiency. The significant year-over-year decline in both earnings and sales highlights underlying issues that could negatively impact investor sentiment and stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100