Baton Rouge-based specialty chemicals maker Albemarle Corp. reported a fourth-quarter loss of $18.5 million, or 24 cents per share, compared to a profit of $155.9 million, or $1.91 per share a year ago.
For the year, the company reported a profit of $133.3 million, or $1.69 per share, compared to $413.2 million, or $4.90 per share.
However, the fourth-quarter results included an actuarial loss of $71.8 million, or 91 cents per share, related to pension and other post-employment benefit plans. A year earlier, Albemarle realized a fourth-quarter gain of $88.3 million, or $1.08 per share.
After adjusting for those charges, Albemarle posted a fourth-quarter profit of $77.4 million, or 99 cents per share, compared to $89.3 million, or $1.09 per share. For the year, Albemarle earned $332.1 million, or $4.20 per share, compared to $338.2 million, or $4.01 per share.
The adjusted results for the quarter fell short of stock analysts’ expectations. Analysts surveyed by Zacks Investment Research expected earnings of $1.01 per share for the quarter and $4.21 for the year.