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Albemarle's quarterly profit drops 45 percent as lithium sales slow

Credit: REUTERS/ERNEST SCHEYDER

August 05, 2020 — 06:10 pm EDT

Written by Ernest Scheyder for Reuters ->

Aug 5 (Reuters) - Albemarle Corp ALB.N, the world's largest producer of lithium for electric vehicle batteries, posted a 45 percent drop in second-quarter profit on Wednesday as sales dropped across all its divisions.

The company posted net income of $85.6 million, or 80 cents per share, compared to $154.2 million, or $1.45 per share, in the year-ago quarter.

(Reporting by Ernest Scheyder; Editing by Sandra Maler)

((ernest.scheyder@thomsonreuters.com; Twitter: @ErnestScheyder; +1-713-210-8512; Reuters Messaging: ernest.scheyder.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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