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Lithium producer Albemarle ups 2022 guidance on higher contract prices

·1 min read
Lithium producer Albemarle ups 2022 guidance on higher contract prices
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Lithium producer Albemarle Corp. late Monday upgraded its guidance for the year, mostly thanks to additional lithium contract renegotiations following blowout first-quarter earnings earlier this month. Albemarle said it expects fiscal 2022 sales between $5.8 billion and $6.2 billion, compared with a prior guidance of sales between $5.2 billion and $5.6 billion, and adjusted per-share earnings between $12.30 and $15, from $9.25 to $12.25 a share. It kept expectations for cash expenditures the sam