Lubrizol Corp. (LZ) reported third quarter earnings were $170.5 million or $2.46 per diluted share, compared to $63.2 million or $0.92 per diluted share last year.
Excluding the restructuring and impairment charges in both periods, adjusted earnings were $174.4 million, or $2.52 per diluted share, for the third quarter of 2009 compared with $67.0 million, or $.98 per diluted share, for the third quarter of 2008.
On average, 3 analysts polled by Thomson Reuters expected the company to report earnings of $2.52 per share. Analysts' estimates typically exclude special items.
Consolidated revenues for the third quarter decreased 6% to $1.27 billion compared with $1.36 billion in the third quarter of 2008. Three analysts estimated revenues of $1.18 billion.
The company's guidance for 2009 earnings is now in the range of $6.82 to $7.02 per diluted share, including restructuring and impairment charges of $.28 per diluted share. Excluding the special charges from both years, the company projects 2009 adjusted earnings in the range of $7.10 to $7.30 per diluted share, which compares with 2008 adjusted earnings of $4.09 per diluted share.
Earlier, the company expected full year earnings, including restructuring and impairment charges, in the range of $5.87 to 6.17 per share. Excluding the special charges, the company projected full year adjusted earnings in the range of $6.10 - $6.40 per share.
Analysts expect the company to report earnings of $6.89 per share for full year.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.