SummaryCompaniesAlbemarle beats Q2 revenue expectations, helped by volume growthLowers 2025 capital expenditure planExpects to generate positive free cash flow in 2025 July 30 (Reuters) - Albemarle (ALB.N), opens new tab, the world's largest producer of lithium for rechargeable batteries, posted a surprise second-quarter profit on Wednesday, helped by sustained demand for the metal, sending its shares up over 6% after the bell. Lithium's use in electric vehicles, large-scale battery storage and other electronic applications has grown rapidly, with demand up 24% last year and likely to grow 12% annually for the next decade, according to data from consultancy Fastmarkets. Advertisement · Scroll to continue Albemarle said its net sales came in at $1.33 billion during the quarter, 7% lower than last year but still above analysts' expectations of $1.22 billion, according to data compiled by LSEG. Its revenue fell year-over-year as a result of lower pricing, which was offset by volume growth in its energy storage and specialties business segments. Lithium prices have fallen more than 90% in the past two years due in part to oversupply in China, fueling layoffs, corporate buyouts and project delays across the globe. To weather the pricing glut, Albemarle has taken measures such as job cuts and cancelling expansion projects - including a key U.S. lithium refinery. Advertisement · Scroll to continue Earlier this year, Albemarle launched a "comprehensive review of its cost and operating structure," which is expected to be completed by October. The company on Wednesday lowered its annual capital expenditure plan to be in the range of $650 million to $750 million, compared with its prior view of $700 million to $800 million. Albemarle's cash from operations rose to $538 million during the first half of the year and it now expects to generate positive free cash flow (FCF) in 2025. Scotiabank analyst Ben Isaacson said that while the market would respond favorably to the FCF outlook, there could be downward revisions to the 2026 forecast as Albemarle's long-term agreements begin to expire. The Charlotte, North Carolina-based company reported quarterly adjusted profit of 11 cents per share, compared with expectations of a loss of 82 cents per share. Ad Break Coming Up NEXT StayNext OffEnglish 180p288p360p480p540p576p720pHD1080pHDAuto (180p) About ConnatixV600299 About ConnatixV600299 Continue watchingafter the adVisit Advertiser websiteGO TO PAGE Reporting by Vallari Srivastava in Bengaluru; additional reporting by Ernest Scheyder in Houston; editing by Alan Barona Purchase Licensing Rights