Albemarle reports quarterly loss following Ketjen business sale charges
Albemarle posted a 455.9 million dollar loss for the fourth quarter due to charges from its Ketjen unit sale. This follows a profit in the prior year.
Insights:
Albemarle Corporation reported a quarterly net loss of $455.9 million for the quarter ended December 31, driven largely by charges tied to the upcoming sale of its Ketjen refining catalyst business. The charges converted a prior-year net profit into a significant loss at the world’s largest producer of lithium, materially affecting the company’s reported earnings and per-share results.
