https://www.miningweekly.com
electrification
electrification
electrification

Albemarle forecasts full-year profit above estimates

5th November 2020

By: Reuters

  

Font size: - +

Lithium miner Albemarle forecast full-year profit above estimates on Wednesday, but warned that the company's annual performance will be subdued, following reduced global economic activity due to the global pandemic.

Lithium producers raised output last year in anticipation of a demand rush from EV manufacturers going into 2020, but the Covid-19 pandemic slammed the brakes on the electrification revolution and dented global automobile sales.

The company said it expects full-year net sales to be between $3.05-billion and $3.15-billion.

Albemarle forecast annual adjusted earnings between $3.80 a share and $4.15 a share, compared with analysts' estimates of $3.52 a share, according to Refinitiv IBES data.

The company had withdrawn its 2020 outlook in May, citing the impact from the virus outbreak.

Net income attributable to the company fell to $98.3-million, or 92c a share, in the quarter ended September 30, from $155.1-million, or $1.46 a share, a year earlier.

On an adjusted basis, the Charlotte, North Carolina-based company earned $1.09 a share, beating estimates of 78c a share.

Edited by Reuters

Comments

Showroom

SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.234 0.274s - 108pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: