Higher commodity prices continue to benefit lithium producer Albemarle.

Wednesday evening, the company announced second-quarter earnings per share of $3.75 from sales of $1.7 billion. Wall Street was looking for earnings per share of $3.20 from sales of $1.6 billion, up from a comparable EPS of 11 cents and sales of $1.3 billion in the second quarter of 2025.

Shares were up 2.7% in after-hours trading at $122.

Things are a lot better year over year because commodity prices are up. Benchmark lithium prices are currently at about $21,000 per metric ton, up from about $11,000 a year ago. But prices are down from a recent peak of almost $30,000 reached in May, which is why Albemarle stock is down 38% over the past three months. (Commodity price volatility typically leads to volatility for commodity-producing stocks.)

Through Wednesday trading, Albemarle stock was down 16% year to date and up 74% over the past 12 months.

Higher demand for battery storage products amid the artificial-intelligence data-center buildout boom has helped.

"We continue to see resilient demand fundamentals across our core markets, including energy storage, electric vehicles, and semiconductors, " said CEO Kent Masters in a news release. "We are advancing our highest value organic growth opportunities while maintaining a disciplined approach to capital allocation and execution."