Albemarle beat quarterly profit estimates on higher demand for bromine and raised its 2019 adjusted profit forecast on Wednesday, sending shares of the world’s largest lithium producer up over 10% in extended trading.
Sales of bromine, a chemical used to make fire extinguishers, were driven by demand in flame retardants for electronics, clear completion fluids, and polymer resins, despite weakness in automotive and construction, sectors that have been hit by trade tensions and fears of slowing global growth.