from - ravin
AUGUST 8, 2018 / 6:34 AM / UPDATED 25 MINUTES AGO
Albemarle quarterly profit nearly triples on strong lithium sales
Reuters Staff
1 MIN READ
(Reuters) - Albemarle Corp, the world’s largest producer of lithium, said on Tuesday that its quarterly profit nearly tripled as sales and selling prices surged for the mineral used to make electric car batteries.
The chemicals company posted second-quarter net income of $302.5 million, or $2.73 per share, compared to $103.3 million, or 92 cents per share, in the year-ago quarter.
For the full year, Albemarle raised its revenue forecast to a range of $3.3 billion to $3.5 billion, in what would be at least a 7 percent increase over 2017.
Reporting by Ernest Scheyder, Editing by Rosalba O'Brien
https://www.reuters.com/article/us-...triples-on-strong-lithium-sales-idUSKBN1KS2A3
Lithium Demand surge, page-1998
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