WASHINGTON (dpa-AFX) - Specialty chemicals company Albemarle Corporation (ALB) on Wednesday reported a third-quarter profit, compared with a year-ago loss, as higher lithium prices, stronger pricing and volumes in its Specialties business, and cost improvements helped results.
Net income attributable to Albemarle was $296.8 million, or $2.15 per share, compared with a net loss of $160.7 million, or $1.72 per share, in the prior-year quarter.
Adjusted net income attributable to the company was $353.6 million, or $2.58 per share, compared with $19.5 million, or an adjusted loss of $0.19 per share, a year earlier.
Net sales increased 18.8% to $1.55 billion from $1.31 billion.
Energy Storage revenue rose 57.9% to $1.12 billion, primarily reflecting a 94.7% increase in average realized lithium prices, partly offset by lower sales volumes.
Specialties revenue increased 12.7% to $388.6 million, supported by higher pricing and volumes.
For full-year 2026, Albemarle raised its Specialties adjusted EBITDA outlook to $350 million-$375 million from $275 million-$325 million.
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