Albemarle Raises Annual Guidance - Quick Facts

(RTTNews) - Albemarle Corp. (ALB) announced the company now expects fiscal 2017 adjusted earnings per share in the range of $4.20 - $4.40 compared to prior guidance range of $4.00 - $4.25. Net sales are now expected to be between $2.9 - $3.05 billion compared to prior outlook range of $2.8 - $2.95 billion.

First quarter adjusted net income from continuing operations was $119.0 million, or $1.05 per share, compared to $107.2 million, or $0.95 per share, for first quarter 2016. The company reported net sales of $722.1 million in first quarter 2017, up from net sales of $657.2 million in the first quarter of 2016, driven by the favorable impact of higher sales volumes in three reportable segments, partially offset by the impact of the divestiture of the minerals-based flame retardants and specialty chemicals business and unfavorable currency exchange impacts.