Shares of Albemarle (NYSE:ALB) decreased in after-market trading after the company reported Q2 results.
Quarterly Results
Earnings per share were up 3.49% year over year to $0.89, which beat the estimate of $0.83.
Revenue of $773,896,000 higher by 1.29% from the same period last year, which missed the estimate of $788,600,000.
Looking Ahead
Albemarle Sees FY21 Adj. EPS $3.35-$3.70 vs $3.61 Est., Sales $3.2B-$3.3B vs $3.24B Est.
Technicals
Company’s 52-week high was at $211.00
Company’s 52-week low was at $79.06
Price action over last quarter: Up 33.46%
Company Profile
Albemarle is the world’s largest lithium producer. Our outlook for robust lithium demand is predicated upon increased demand for electric vehicle batteries. Albemarle produces lithium from its salt brine deposits in Chile and the U.S. and its hard rock joint venture mines in Australia. Albemarle is also a global leader in the production of bromine, used in flame retardants. The company is also a major producer of oil refining catalysts.
