05:19 PM EDT, 05/01/2024 (MT Newswires) -- Albemarle (ALB) reported Q1 adjusted earnings late Wednesday of $0.26 per diluted share, down from $10.32 a year earlier.

Analysts polled by Capital IQ expected $0.23.

Net sales for the quarter ended March 31 were $1.36 billion, down from $2.58 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.36 billion.

The company said it now expects 2024 net sales of $5.5 billion to $6.2 billion. Analysts surveyed by Capital IQ expect $6.03 billion.

Shares of Albemarle were down 0.7% in after-hours activity.

Price: 118.20, Change: -0.80, Percent Change: -0.67