Benzinga | Nov 4, 2020 04:45PM EST

Albemarle: Q3 Earnings Insights

Shares of Albemarle (NYSE:ALB) rose 4.51% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share fell 28.76% over the past year to $1.09, which beat the estimate of $0.78.

Revenue of $746,868,000 declined by 15.10% year over year, which beat the estimate of $739,600,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Albemarle hasn't issued any revenue guidance for the time being.

Price Action

52-week high: $101.00

Company's 52-week low was at $48.89

Price action over last quarter: Up 12.34%

Company Overview

Albemarle is the world's largest lithium producer. Our outlook for robust lithium demand is predicated upon increased demand for electric vehicle batteries. Albemarle produces lithium from its salt brine deposits in Chile and the U.S. and its hard rock joint venture mines in Australia. Albemarle is also a global leader in the production of bromine, used in flame retardants, and oil refining catalysts.