U.S. stocks active: Albemarle rises over 6% pre-market as Q1 results beat expectations with strong performance in lithium division
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Glonghui May 7|Albemarle (ALB.US) rose over 6% in pre-market trading, quoted at $204.23. According to reports, Albemarle’s net sales in the first quarter increased by 32.7% year-on-year to $1.43 billion, slightly above analysts’ average expectations; adjusted EBITDA surged 148.5% year-on-year to $660 million, far surpassing the expected $468.2 million. Specifically, the energy storage business (lithium division) saw net sales climb 70% year-on-year to $891 million, with adjusted EBITDA soaring 196% to $551 million, due to a 51% increase in prices and a 14% rise in sales volume during the period. (Glonghui)
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