Albemarle Reports 40% YoY Decline in Net Sales to $1.4 Billion in Q2, Citing Lower Energy Storage Prices

Published: Aug 8, 2024 17:29

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[Net Sales of Albemarle, the World's Largest Lithium Miner, Decreased by 40% YoY in the Second Quarter] According to the financial report released by Albemarle, the world's largest lithium miner, its net sales in the second quarter amounted to US$1.4 billion, a year-on-year decrease of 40%, primarily due to lower pricing for energy storage. The net loss was US$188 million, or a diluted loss per share attributable to common stockholders of US$1.96, which included a post-tax charge of US$215 million related to the write-off of capital project assets and costs associated with the cancellation of related contracts. The adjusted diluted earnings per share attributable to common stockholders were US$0.04.

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