WASHINGTON (dpa-AFX) - Albemarle Corp. (ALB) on Wednesday posted a profit for the second quarter, as revenues rose driven by stronger lithium pricing in its Energy Storage business and improved pricing and volumes in its Specialties segment.
The lithium producer reported second-quarter net income attributable to shareholders of $438.3 million, or $3.52 per share, compared with a loss of $18.8 million, or a loss of $0.16 per share, in the prior-year quarter. Adjusted earnings were $3.75 per share, up from $0.11 per share a year ago.
Net sales increased 31.1% to $1.74 billion from $1.33 billion last year, reflecting higher pricing in Energy Storage and stronger pricing and volumes in Specialties.
Energy Storage net sales climbed 78% to $1.28 billion, primarily due to higher lithium prices. Specialties net sales rose 20.5% to $423.5 million, on higher volumes, favorable pricing and productivity improvements.
For fiscal 2026, Albemarle increased its Specialties net sales outlook to $1.4 billion-$1.6 billion and adjusted EBITDA outlook to $275 million-$325 million, citing stronger-than-expected pricing and volume trends.
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