Albemarle Corporation (NYSE:ALB, ETR:AMC) reported an unexpected second-quarter profit on Thursday, as steady demand for lithium used in electric vehicles and energy storage helped offset a volatile pricing environment.
The US-based lithium producer posted adjusted earnings of $0.11 per share, beating analysts’ expectations of a $0.78 loss. Revenue rose to $1.33 billion, surpassing the $1.22 billion estimate.
“Another quarter of resilience despite lithium price headwinds,” the company said, noting long-term demand growth for lithium remains intact across electric mobility and grid-scale energy storage.
Despite the beat, Albemarle trimmed its full-year capital expenditure guidance to a range of $650 million to $700 million, signaling a more cautious investment stance amid market uncertainty. The company maintained its full-year earnings scenario assumptions based on lithium prices holding at around $9 per kilogram.
Shares of Albemarle were down about 0.7% in afternoon trading.