Lubrizol issues strong 2Q outlook; shares climb
Wednesday July 15, 2009, 8:46 am EDT
Lubrizol projects 2nd-quarter profit above Wall Street predictions; shares climb
CLEVELAND (AP) -- Lubrizol Corp., which makes specialty chemicals, on Wednesday projected a second-quarter profit ahead of Wall Street predictions.
Lubrizol said it expects to post a profit of $1.92 per share for the quarter. Excluding restructuring and impairment charges of 10 cents per share, the company said it expects an adjusted profit of about $2.02 per share for the period.
Analysts polled by Thomson Reuters expect a profit of $1.21 per share.
Lubrizol expects to release its full second-quarter results on July 30. In premarket activity Wednesday, its stock advanced $3.31, or 6.8 percent, to $52.12. Shares have traded in a 52-week range of $23.56 to $54.78.
Source: Associated Press
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