Following up on "World's Largest Battery Maker To Introduce New Sodium Ion Battery To Help Ease Lithium Shortages"
ALB is changing hands at $222.92 up $16.08 (+7.77%). Today's top tick, $226.22, was another all-time high.
From Zacks via Yahoo Finance:
Albemarle Corporation recorded a profit of $424.6 million or $3.62 per share in the second quarter of 2021, up from $85.6 million or 80 cents per share it earned a year ago. The bottom line in the reported quarter includes a gain on the sale of the Fine Chemistry Services business.
Adjusted earnings for the reported quarter were 89 cents per share, up from 86 cents a year ago. It topped the Zacks Consensus Estimate of 83 cents.
Revenues rose roughly 1% year over year to $773.9 million in the quarter. It missed the Zacks Consensus Estimate of $787.1 million. The top line was aided by higher sales from the company's Lithium and Bromine business segments.
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Segment HighlightsSales from the Lithium unit rose around 13% year over year to $320.3 million in the reported quarter, aided by higher volumes (up 17%) that more than offset lower pricing. Prices fell 4% due to lower carbonate and technical grade product pricing. Adjusted EBITDA was up roughly 16% year over year to $109.4 million, aided by higher sales.The Bromine Specialties segment recorded sales of $279.7 million, up around 20% year over year. Sales were supported by higher demand for products across the portfolio and improved volumes and pricing. Adjusted EBITDA was $92.6 million, up around 27% year over year. The company’s cost-savings initiatives and pricing offset higher raw materials costs.....
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