Albemarle Q1 earnings rise supports $1.3bn debt reduction

US-based lithium and specialty chemicals producer Albemarle Corporation has reported a 148% year-on-year increase in its adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) to $664-million in the first quarter of the year. The company experienced higher volumes and pricing in its Energy Storage and Specialties segments, in particular, with Ebitda in these segments having grown by 196% and 30% year-on-year, respectively.