Albemarle Beats EPS Estimates, Misses Revenue

released its Q2 results after market close on Wednesday. Earnings per share came in above Wall Street consensus expectations, however, company shares remained flat in Wednesday's after-hours session. Albemarle reported EPS of $1.09 and revenues of $669.327 million. Analyst consensus had an EPS estimate of $1 and revenues of $718.29 million. Our great start to 2016 continued in the second quarter as we announced the strategic sale of Chemetall® Surface Treatment at a very healthy multiple, coupled with year over year adjusted EBITDA growth of 11% in the businesses we will operate after the sale is completed," said Luke Kissam, Albemarle's president and CEO. "Our businesses have exceeded our first half expectations, and we continue to deliver outstanding results despite a relatively weak macroeconomic environment," stated Kissam. At the time of writing, Albemarle traded at $83.99 in Wednesday's after-hours session.