Albemarle (ALB) could see higher highs.

All after the company boosted guidance for the second time in weeks.  ALB now expects to see full-year 2022 sales of between $5.8 billion and $6.2 billion.  Adjusted EBITDA will come in between $2.2 billion and $2.5 billion, with adjusted EPS falling in a range of $12.30 and $15.

About three weeks ago, the company was expecting sales of between $5.2 billion and $5.6 billion, EBITDA between $1.7 billion and $2 billion, and EPS of $9.25 to $12.25.

“Over the past 12 months, we’ve made significant progress in renegotiating more variable-priced contracts with our lithium customers. Implementation of these contracts is a key driver of the expected year-over-year improvement in our financial results,” said CEO Kent Masters, as quoted by Barron’s. “We now expect full-year 2022 adjusted EBITDA to be up more than 160% from prior year based on favorable market dynamics for our Lithium and Bromine businesses.”

With lithium demand only set to accelerate, keep an eye on lithium stocks, like ALB.

Helping, according to NBC News, “The auto industry is shifting from internal combustion technology to emissions-free battery and hydrogen powertrains. Several traditional brands have also committed to a complete transition, with Bentley recently laying out a target date of 2030 to switch entirely to battery-electric vehicles, or BEVs. Nissan this week said it will electrify all models by the ‘early 2030s,’ but that will include gas-electric hybrids as well as BEVs.”

Plus, President Biden wants at least 50% of all new vehicles to be electric by 2030. The Administration is also investing about $3 billion to spur domestic production of EV batteries.