Albemarle Reaffirms FY EPS Outlook

Albemarle Corp. (ALB), Thursday said its Lithium segment expects a shift of about 3,000 - 3,500 metric tons on an LCE basis in volume from first quarter to subsequent quarters in 2019.

This volume shift will impact first quarter by about $40 million - $45 million in revenue. The company expects first quarter adjusted earnings to be in the range of $1.20 - $1.25 per share.

The volume shortfall in the quarter was primarily due to the timing of customer qualifications of lithium hydroxide from Xinyu II and lithium carbonate from toll manufacturers, as well as production issues at the company's La Negra, Chile, site due to the disruption in the supply of fresh water as a result of the rain event in Chile earlier in the year.

Albemarle reaffirms its full year adjusted earnings guidance of $6.10 - $6.50 per share.

Analysts polled by Thomson Reuters expects earnings of $1.33 per share and $6.24 per share for the first quarter and full year 2019.

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