Albemarle Shares Jump as Lithium Recovery Delivers Earnings Beat
A scientist works on lithium battery research at the Albermarle facility in Kings Mountain, North Carolina.
Photographer: Logan Cyrus/BloombergAlbemarle Corp. shares surged after the lithium producer delivered better-than-expected quarterly results as higher prices and stronger volume lifted sales and earnings.
The North Carolina-based company, one of the world’s top miners of the battery metal, is starting to benefit from a price recovery driven by a strong demand outlook for electric vehicles and large-scale battery storage after years of oversupply.