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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.