Albemarle (ALB) expects adjusted EPS in the range of $12.30-$15, higher than the prior guidance of $9.25-$12.25.
(Bloomberg) -- Albemarle Corp., the world’s largest producer of lithium, raised its outlook for the second time this month as tight supply and growing electric-vehicle demand forces battery makers to pay up for the metal.Most Read from BloombergPlot to Kill George W. Bush in Revenge for Iraq War Was Foiled, FBI SaysSocial Media Stocks Sink to Erase $135 Billion on Snap WarningStocks Finish Off Session Lows While Bonds Climb: Markets WrapHungary’s Orban Declares State of Emergency Over War, Econo
Albemarle (NYSE: ALB) stock rose 2.7% on Monday after the market close, following the U.S.-based lithium giant raising its full-year 2022 guidance for revenue, adjusted earnings per share and another key profitability metric, and cash from operations. The specialty chemical company, which is also a leading producer of bromine and catalysts, cited "the completion of additional lithium contract renegotiations following [its] Q1 2022 earnings release on May 4," as the primary reason for this latest guidance increase. While there are no guarantees, Albemarle stock's after-hours action on Monday bodes well for its performance on Tuesday, when there will be more market participants.