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Albemarle’s quarterly profit jumps on rising lithium prices

Kitco Media
By Reuters
Published:
Updated:
Reuters
Albemarle’s quarterly profit jumps on rising lithium prices teaser image

Albemarle, the world’s largest producer of lithium, said on Wednesday its quarterly profit jumped more than six-fold due to rising prices and sales of the battery metal.

The Charlotte, North Carolina-based company posted a first-quarter net income of $319.1 million, or $2.34 per share, compared to $49.3 million, or break-even per share, in the year-ago quarter.

(By Ernest Scheyder; Editing by Chris Reese)

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