Albemarle reports q1 adjusted earnings per share $1.00

Albemarle reports first quarter results.q1 adjusted earnings per share $1.00.q1 earnings per share $1.01.q1 sales $739 million versus refinitiv ibes estimate of $762.3 million.q1 earnings per share estimate $0.83 -- refinitiv ibes data.accelerating $100 million cost savings initiative.now expect to realize between $50 and $70 million of cost savings in 2020.reducing 2020 capital spending by about $150 million from plan.implementing short-term cash management actions to save between $25 and $40 million per quarter.withdrawing full-year 2020 outlook.anticipates that q2 performance will be lower year-over-year based on reduced global economic activity due to global pandemic.sees q2 net sales $700 - $775 million.sees q2 adjusted ebitda $140 - $190 million.q2 revenue view $767.5 million -- refinitiv ibes data.to date, co has experienced minimal order reductions..customer closures and order cancellations are likely to affect specialty and technical grade products in q2.continue to see solid battery grade orders in q2 2020 as battery manufacturers catch up on backlog orders placed prior to covid-19.impact of recent automotive oem shutdowns is expected to be delayed into h2 2020..to date, bromine demand has remained relatively strong.future bromine demand is likely to be impacted by recent covid-19 shut-downs.
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