Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
Quelle

Albemarle cuts 2019 guidance on lithium price weakness

Albemarle (NYSE:ALB) -7.1% after-hours in reaction to reducing guidance for full-year earnings and revenues due to continuing pressure from low lithium prices.
ALB now sees FY 2019 EPS of $6.00-$6.20, below prior guidance of $6.25-$6.65 and $6.28 analyst consensus, on revenues of $3.6B-$3.7B, slightly off its previous outlook of $3.65B-$3.85B but in line with $3.64 consensus.
While the company expects slight upside in its bromine and catalysts units in Q4, it will not offset weakness in lithium.
ALB also reports preliminary Q3 adjusted EPS of $1.53, below $1.62 consensus, with the lithium business expected to deliver revenue of $330M, up 22% Y/Y but lower than forecast primarily due to Typhoon Tapah, which caused shipments from ports in Shanghai to be delayed into October.
The company also says it expects FY 2020 EBITDA performance to be lower than 2019 results.

Quelle




Hab kein Thema zu ALB gefunden