Shares of Albemarle Corp. were higher after-hours Wednesday, following the release of first-quarter financial results that showed sales and income increased in the period.
Albemarle also said it was raising its sales guidance for 2022 on increased prices in its lithium and bromine businesses. The company is expecting 2022 sales in a range between $5.2 billion and $5.6 billion. Previously, it said it was expecting sales in a range between $4.2 billion and $4.5 billion. At 5:22 p.m. EDT, the company's shares had risen 17.51% to trade at $253.20 per share. The stock closed the day's regular session at $215.47 per share, a 9.31% gain
The company reported first-quarter earnings per share of $2.15 on sales of $1.13 billion. In the year-ago period, Albemarle reported EPS of 84 cents on sales of $829.3 million.
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