February 19, 2020 / 9:33 PM / a month ago

Albemarle quarterly profit drops, 2020 results forecast to slip

Feb 19 (Reuters) - Albemarle Corp, the world’s largest lithium producer, said on Wednesday its quarterly profit fell and the company forecast a drop in 2020 sales and earnings.

The company posted fourth-quarter net income of $90.4 million, or 85 cents per share, compared to $129.6 million, or $1.21 per share, in the year-ago period. Sales of lithium producers rose 20 percent to $411.1 million, though sales of catalysts for refineries dropped.

Reporting by Ernest Scheyder Editing by Chris Reese

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