Lithium giant Albemarle (ALB 3.02%) released strong third-quarter results after the market close on Wednesday. In Wall Street lingo, it was a “mixed report,” as earnings exceeded the analyst consensus estimate, though revenue missed it.
Shares gained 3% on Thursday, which is probably at least partly a reflection of investors’ reaction to the report along with the information management shared on Thursday morning’s analyst earnings call.
Here’s how the quarter worked out for the specialty chemicals company and its investors.
Albemarle’s key numbers
Metric
Q3 2021
Q3 2022
Change YOY
Revenue
$830.6 million
$2.09 billion
152%
Net income
($392.8 million)
$897.2 million
Result flipped to positive from negative.
Adjusted net income
$123.3 million
$883.5 million
617%
Earnings per share (EPS)
($3.36)
$7.61
Result flipped to positive from negative.
Adjusted…