and suprise, surprise, ALB has production problems. Sharpen your pencil MS
Albemarle sees below consensus Q1 earnings due to lithium volume shift
Albemarle (NYSE:ALB) says it expects lithium volumes will shift by 3K-3.5K metric tons from Q1 to subsequent quarters during the year, knocking $40M-$45M from forecast Q1 revenues and $15M-$18M from its EBITDA outlook.
ALB sees Q1 EPS of $1.20-$1.25, below $1.34 analyst consensus estimate, due to the lithium volume shift, but reaffirms its full-year EPS outlook of $6.10-$6.50, in line with $6.23 consensus, as it expects Q1's volume shortfall to be recovered during the rest of 2019.
ALB blames the Q1 volume shortfall on the timing of customer qualifications of lithium hydroxide from Xinyu II and lithium carbonate from toll manufacturers, as well as production problems at the La Negra, Chile, site due to the disruption in the supply of fresh water from heavy rains earlier in the year.
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