Albemarle Q2 2024 Adj. EPS $0.04 Misses $0.41 Estimate, Sales $1.430B Beat $1.338B Estimate
Portfolio Pulse from Benzinga Newsdesk
Albemarle (NYSE: ALB) reported Q2 2024 earnings of $0.04 per share, missing the analyst estimate of $0.41 by 90.24%. Sales were $1.430 billion, beating the estimate of $1.338 billion by 6.88%. Compared to the same period last year, earnings decreased by 99.45% and sales by 39.66%.
July 31, 2024 | 8:17 pm
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Albemarle's Q2 2024 earnings per share of $0.04 missed the analyst estimate of $0.41 by a significant margin, while sales of $1.430 billion beat the estimate of $1.338 billion. The company saw a drastic year-over-year decline in both earnings and sales.
The significant miss on EPS and the drastic year-over-year decline in both earnings and sales are likely to negatively impact Albemarle's stock price in the short term, despite the sales beat.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100