Albemarle (ALB) Tops Q2 EPS by 6c

Albemarle (NYSE: ALB) reported Q2 EPS of $0.89, $0.06 better than the analyst estimate of $0.83. Revenue for the quarter came in at $773.9 million versus the consensus estimate of $788.6 million.

"Albemarle delivered another strong quarter, generating $195 million in adjusted EBITDA, driven by continued strength in demand for our Lithium and Bromine products," said Albemarle CEO Kent Masters. "We are focused on executing our accelerated growth strategy. We are in the final stages of two lithium projects which are expected to double our nameplate capacity to about 175,000 metric tons, including La Negra III/IV where construction is complete and commissioning is progressing. We are firmly focused on advancing all our lithium projects to meet customer demand and accelerate profitable growth."

GUIDANCE:

Albemarle sees FY2021 EPS of $3.35-$3.70, versus the consensus of $3.61. Albemarle sees FY2021 revenue of $3.2-3.3 billion, versus the consensus of $3.24 billion.

For earnings history and earnings-related data on Albemarle (ALB) click here.

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