The upcoming report from Albemarle (ALB) is expected to reveal quarterly loss of $0.62 per share, indicating a decline of 338.5% compared to the year-ago period. Analysts forecast revenues of $1.17 billion, representing a decrease of 13.9% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 192.9% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
In light of this perspective, let's dive into the average estimates of certain Albemarle metrics that are commonly tracked and forecasted by Wall Street analysts.
According to the collective judgment of analysts, 'Net Sales- Energy Storage' should come in at $588.57 million. The estimate indicates a year-over-year change of -26.5%.
The average prediction of analysts places 'Net Sales- Ketjen' at $243.93 million. The estimate indicates a year-over-year change of +0.1%.
The consensus among analysts is that 'Net Sales- Specialties' will reach $329.98 million. The estimate points to a change of +4.4% from the year-ago quarter.
Analysts expect 'Adjusted EBITDA- Corporate' to come in at -$9.39 million. Compared to the current estimate, the company reported $26.08 million in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Adjusted EBITDA- Ketjen' will likely reach $27.55 million. The estimate is in contrast to the year-ago figure of $21.98 million.
The consensus estimate for 'Adjusted EBITDA- Specialties' stands at $55.43 million. Compared to the current estimate, the company reported $45.18 million in the same quarter of the previous year.
Analysts predict that the 'Adjusted EBITDA- Energy Storage' will reach $132.93 million. Compared to the present estimate, the company reported $198 million in the same quarter last year.
View all Key Company Metrics for Albemarle here>>>
Over the past month, shares of Albemarle have returned -22.2% versus the Zacks S&P 500 composite's -4.8% change. Currently, ALB carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Albemarle Corporation (ALB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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