Albemarle FY Guidance Lower Than Street View

(RTTNews) - North Carolina-based, Albemarle Corporation (ALB) issues a full-year earnings outlook, which is expected to miss Street's current estimates.

Excluding special items, the net earnings guided by the company were between $5.65 and $6.65 per share for the full-year period. However, 23 analysts polled by Thomson Reuters estimated the earnings to be $6.19 per share.

The company projection for revenue was $4.20 billion to $4.50 billion for 2022 while the analyst forecast remains at $4.01 billion.

Following the report, the stock has been trading at $231.59 , down $14.41 or 5.86% in the after-hours market after closing at $246.00 during regular trade. The stock opened at $241.01 in the morning after closing at $241.39 the previous day.