Albemarle swings to quarterly profit as cost cuts offset lithium price drop
ReutersFeb 12, 2025 9:23 PM
Feb 12 (Reuters) - Albemarle ALB.N, the world's largest producer of lithium, said on Wednesday it swung to a quarterly profit as cost cuts helped offset plunging prices for the metal used to make electric vehicle batteries.
The company posted a profit for the fourth quarter ended December 31 of $33.6 million, or 29 cents per share, compared to a quarterly loss of $617.7 million, or $5.26 per share, in the year-ago period.
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