Albemarle Corporation (NYSE:ALB) reported first-quarter results that exceeded earnings expectations despite a sharp revenue decline, as resilience in its Specialties and Ketjen businesses helped offset weakness in lithium pricing.

The company posted an adjusted loss of $0.18 per share, narrower than the anticipated $0.50 loss and an improvement relative to Wall Street expectations, though it marked a significant decline from a $0.26 profit in the same period last year.

Revenue came in at $1.1 billion, down 21% year-over-year and slightly below the $1.18 billion analyst consensus. The decline was largely attributed to softer pricing in Albemarle’s Energy Storage segment, which is closely tied to the lithium market.

Adjusted EBITDA totaled $267 million, supported by strong performance in the company’s Specialties and Ketjen segments, which showed year-over-year growth despite broader pricing headwinds.

Albemarle maintained its full-year 2025 guidance, which includes a wide range for projected net sales—between $4.9 billion and $7.0 billion—reflecting continued volatility in global lithium prices.