Albemarle Corp plunged the most in 18 months as the world’s largest lithium producer forecast disappointing earnings amid rising exploration costs and lower prices for the mineral used in electric-vehicle batteries.
Lithium profit the rest of this year will probably decline from the record level in the second quarter, CFO Scott Tozier said Tuesday on a conference call to discuss financial results. The company’s profit forecast for 2017 suggested earnings will probably fall short of analysts’ estimates in the second half.
