U.S. markets closed
  • S&P 500

    4,429.10
    +26.44 (+0.60%)
     
  • Dow 30

    35,064.25
    +271.58 (+0.78%)
     
  • Nasdaq

    14,895.12
    +114.58 (+0.78%)
     
  • Russell 2000

    2,236.01
    +39.69 (+1.81%)
     
  • Crude Oil

    69.16
    +1.01 (+1.48%)
     
  • Gold

    1,802.70
    -7.80 (-0.43%)
     
  • Silver

    25.18
    -0.28 (-1.08%)
     
  • EUR/USD

    1.1836
    -0.0007 (-0.06%)
     
  • 10-Yr Bond

    1.2170
    +0.0330 (+2.79%)
     
  • GBP/USD

    1.3928
    +0.0044 (+0.31%)
     
  • USD/JPY

    109.7700
    +0.3020 (+0.28%)
     
  • BTC-USD

    40,871.64
    +1,240.59 (+3.13%)
     
  • CMC Crypto 200

    1,005.54
    +29.64 (+3.04%)
     
  • FTSE 100

    7,120.43
    -3.43 (-0.05%)
     
  • Nikkei 225

    27,728.12
    +144.04 (+0.52%)
     

Albemarle quarterly profit nearly triples on strong lithium sales

  • Oops!
    Something went wrong.
    Please try again later.
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Aug 7 (Reuters) - Albemarle Corp, the world's largest producer of lithium, said on Tuesday that its quarterly profit nearly tripled as sales and selling prices surged for the mineral used to make electric car batteries.

The chemicals company posted second-quarter net income of $302.5 million, or $2.73 per share, compared to $103.3 million, or 92 cents per share, in the year-ago quarter.

For the full year, Albemarle raised its revenue forecast to a range of $3.3 billion to $3.5 billion, in what would be at least a 7 percent increase over 2017. (Reporting by Ernest Scheyder, Editing by Rosalba O'Brien)