US Stock Market Move | Albemarle Corporation (ALB.US) gained over 6% as strong lithium demand led to Q2 performance exceeding expectations.

On Thursday, Albemarle (ALB.US) rose over 6%, reaching $126.21. In news, Albemarle announced its second-quarter financial report, with net sales of $1.74 billion, a 31% year-on-year increase, surpassing the estimate of $1.62 billion; adjusted earnings per share were $3.75, compared to $0.11 in the same period last year and above the estimate of $3.22; adjusted EBITDA was $858 million, compared to $337 million in the same period last year and exceeding the estimate of $779 million. Albemarle has revised its capital expenditure expectations for this fiscal year down to approximately $500 million. The CEO of Albemarle stated that the expected output for battery storage in 2026 has been raised by 11%. Global lithium inventories are at low levels, and weak supply has failed to keep pace with the growing demand for electric vehicles and battery storage, prompting a 100,000 metric ton upward adjustment to the lower end of the global lithium demand forecast range for 2030.