Calgon Carbon Climbs After Fourth-Quarter Results Top EstimatesRandall Hackley
Calgon Carbon Corp., a water purification, activated carbon and ultraviolet light disinfection specialist, reported fourth-quarter results that beat analysts’ estimates.
Sales rose 2.6 percent to $141.8 million as earnings of 16 cents per share on a profit of $9.1 million topped six analysts’ median estimate of 14 cents a share, Pittburgh-based Calgon said today in a statement.
The shares climbed as much as 4.1 percent, the most in two weeks, in New York trading. They’ve now gained 18 percent this year. “The company’s performance for the quarter was solid despite a challenging business environment,’’ Chief Executive Officer Randy Dearth said in the earnings statement.
“We continue to believe that emerging environmental markets, including mercury removal from coal-fired power plants, ballast water treatment and control of disinfection byproducts in drinking water, will provide opportunities for significant growth throughout this decade,” Dearth said.