* Q2 adj EPS $1.24 vs est $1.23
* Q2 rev $684.9 mln vs est $741.1 mln
July 17 Chemicals maker Albemarle Corp
reported a slightly better-than-expected second-quarter profit,
but the company's revenue missed estimates, hurt by weak sales
of catalysts used by petroleum refiners.
The company was not currently seeing the increased market
demand it had expected in the second half of the year, CEO Luke
Kissam said in a statement.
Net income for the second quarter fell to $37.7 million, or
42 cents per share, from $114.2 million, or $1.23 a share, in
the year-ago period.
Excluding one-time charges, the company earned $1.24 per
Sales fell 8 percent to $684.9 million.
Analysts on average had expected a profit of $1.23 per share
on revenue of $741.1 million, according to Thomson Reuters
Sales of its catalysts, which represent more than one-third
of total sales, fell 14 percent to $229.1 million.
Sales of polymer solutions, which are fire safety solutions
and antioxidants used in industries such as textiles and
automobiles, fell 15 percent to $247 million.
Albemarle shares fell 3 percent after market close on
Tuesday. They closed at $57.23 on the New York Stock Exchange.