Bear of the Day: Albemarle (ALB)
Albemarle(ALB) Zacks Investment Research·2024-01-16 20:31
Albemarle Corp. (ALB) is growing its sales but lithium prices have depressed earnings. This Zacks Rank #5 (Strong Sell) is expected to see a double digit decline in earnings in 2024.Albemarle is a global lithium and bromine producer. Headquartered in Charlotte, NC, it serves customers in 100 countries.A Big Miss in the Third QuarterOn Nov 1, 2023, Albemarle reported its third quarter results and missed on the Zacks Consensus by $0.96. Earnings were $2.74 versus the consensus of $3.70.Lithium prices have fal ...