Lithium Giant Albemarle Raises 2022 Guidance... Again!

Lithium Giant Albemarle Raises 2022 Guidance... Again!
·4 min read

Albemarle (NYSE: ALB) stock rose 2.7% on Monday after the market close, following the U.S.-based lithium giant raising its full-year 2022 guidance for revenue, adjusted earnings per share and another key profitability metric, and cash from operations. The specialty chemical company, which is also a leading producer of bromine and catalysts, cited "the completion of additional lithium contract renegotiations following [its] Q1 2022 earnings release on May 4," as the primary reason for this latest guidance increase. While there are no guarantees, Albemarle stock's after-hours action on Monday bodes well for its performance on Tuesday, when there will be more market participants.