WASHINGTON (dpa-AFX) - Albemarle Corporation (ALB) Wednesday reported a narrowed net loss in the first quarter of 2025 despite a decline in sales, as the company benefited from improved margins and lower operating expenses.
The company posted a net loss attributable to shareholders of $340,000, compared with a loss of $9.1 million in the same quarter last year. Loss per share was flat at $0.00, an improvement from the $0.08 loss per share reported in the prior-year period.
Net sales for the quarter declined to $1.08 billion from $1.36 billion a year ago, primarily due to lower lithium pricing.
On an adjusted basis, Albemarle recorded net income of $41.3 million compared to $2.4 million last year, after accounting for dividends on mandatory convertible preferred stock and noncontrolling interests.
ALB closed Wednesday's trading at $58.55 down $0.91 or 1.53 percent on the New York Stock Exchange.
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