May 6, 2020 / 8:29 PM / a month ago

Albemarle quarterly profit drops 20 pct, 2020 forecast withdrawn

May 6 (Reuters) - Albemarle Corp, the world’s largest producer of lithium for electric vehicle batteries, reported a 20 percent drop in quarterly profit on Wednesday and said it would withdraw its 2020 forecast due to the global spread of coronavirus.

For the first quarter ended March 31, the company posted net income of $107.2 million, or $1.01 per share, compared to $133.6 million, or $1.26 per share, in the year-ago period.

Reporting by Ernest Scheyder Editing by Chris Reese

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