Lubrizol Lifts 2009 Profit Outlook

CLEVELAND (AP) — Lubrizol Corp. raised its full-year earnings guidance to reflect improving volume trends and cost reduction initiatives, the company said Monday.

The company anticipates a full-year profit in a range of $5.87 to $6.17 per share, including restructuring and impairment charges of 23 cents per share. That's up from its previous guidance between $5.47 and $5.77 per share.

Excluding charges, the company's new adjusted earnings per share will be between $6.10 and $6.40. Lubrizol was previously anticipating adjusted earnings in a range of $5.70 to $6 per share.

On that basis, analysts polled by Thomson Reuters are looking for a profit of $5.92 per share.

Lubrizol makes specialty chemicals for companies in transportation, industry and consumer goods, including industrial and engine lubricants.

In after-hours trading, shares of Lubrizol added $1.27 to $68.14. Shares fell 67 cents to close at $66.87 in the regular session.