- CHARLOTTE, N.C. , April 30, 2025 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced its results for the first quarter ended March 31, 2025., First-Quarter, 2025 and Recent Highlights, (Unless otherwise stated, all percentage changes represent year-over-year comparisons) Net sales of $1.1 billion, with double-digit volume growth in Specialties (+11%) and record Energy Storage lithium salt production from the company's integrated conversion network Net income of $41 million, or ($0.00) per diluted share attributable to common shareholders; adjusted diluted loss per share…, First Quarter 2025 Results, In millions, except per share amounts, Q1 2025, Q1 2024, $ Change, % Change, Net sales $ 1,076.9 $ 1,360.7 $ (283.9) (20.9) % Net income attributable to Albemarle Corporation $ 41.3 $ 2.4 $ 38.9 1,620.8 % Adjusted EBITDA (a) $ 267.1 $ 291.2 $ (24.1) (8.3) % Diluted loss per share attributable to common shareholders $ (0.00) $ (0.08) $ 0.08 (100.0) % Non-recurring and other unusual items (a) (0.…, Energy Storage Results, In millions, Q1 2025, Q1 2024, $ Change, % Change, Net Sales $ 524.6 $ 800.9 $ (276.3) (34.5) % Adjusted EBITDA $ 186.4 $ 198.0 $ (11.6) (5.9) % Energy Storage net sales for the first quarter of 2025 were $525 million, a decrease of $276 million, or 35%, due to lower pricing (-34%). Volumes were flat as record production at our integrated conversion network offset reduced tolling volumes…, Specialties Results, In millions, Q1 2025, Q1 2024, $ Change, % Change, Net Sales $ 321.0 $ 316.1 $ 4.9 1.6 % Adjusted EBITDA $ 58.7 $ 45.2 $ 13.5 29.8 % Specialties net sales for the first quarter of 2025 were $321 million, an increase of $5 million, or 2%, primarily due to higher volumes (+11%), which more than offset lower prices (-8%). Adjusted EBITDA of $59 million increased $13 million versus…, Ketjen Results, In millions, Q1 2025, Q1 2024, $ Change, % Change, Net Sales $ 231.3 $ 243.8 $ (12.5) (5.1) % Adjusted EBITDA $ 38.6 $ 22.0 $ 16.6 75.6 % Ketjen net sales for the first quarter of 2025 were $231 million, down 5% compared to the prior-year quarter as higher prices (+4%) were more than offset by lower volumes (-8%), primarily due to the timing of sales, offset by favorable pricing…, 2025 Outlook Considerations, Total Corporate Outlook Considerations are Unchanged, The table below reflects expected outcomes for the total company based on recently observed lithium market price scenarios, unchanged from the prior quarter. Ranges include the anticipated direct impact of announced tariffs as of April 29, 2025. Ranges are based on variation in sales volume and mix, including a projected increase in Energy Storage volumes of 0% to 10% in 2025 compared to 2024.…, Total Corporate FY 2025E, Including Energy Storage Scenarios, Observed market price case (a) YE 2024 H1 2024 range Q4 2023 average Average lithium market price ($/kg LCE) (a) ~$9 $12-15 ~$20 Net sales $4.9 - $5.2 billion $5.3 - $6.1 billion $6.5 - $7.0 billion Adjusted EBITDA (b) $0.8 - $1.0 billion $1.2 - $1.8 billion $2.5 - $2.7 billion (a) Price represents blend of relevant market pricing including spot and regional indices for the periods referenced. (b…, Energy Storage Market Price Scenarios, Energy Storage FY 2025E, Observed market price case (a) YE 2024 H1 2024 range Q4 2023 average Average lithium market price ($/kg LCE) (a) ~$9 $12-15 ~$20 Net sales $2.5 - $2.6 billion $2.9 - $3.5 billion $4.2 - $4.5 billion Adjusted EBITDA $0.6 - $0.7 billion $1.0 - $1.5 billion $2.2 - $2.4 billion Equity in net income of unconsolidated investments (net of tax) (b) $0.2 - $0.3 billion $0.3 - $0.5 billion $0.6 - $0.7…, Specialties and Ketjen Outlook Considerations, Specialties outlook reflects modest volume growth in key end markets led by pharma, automotive, and oilfield, partially offset by weakness in building and construction. Ketjen outlook assumes favorable product revenue mix, lower input costs and the continuation of its turnaround plan execution., Segment FY 2025E, Specialties net sales $1.3 - $1.5 billion Specialties adjusted EBITDA $210 - $280 million Ketjen net sales $1.0 - $1.1 billion Ketjen adjusted EBITDA $120 - $150 million, Other Corporate Outlook Considerations, Albemarle expects its 2025 capital expenditures to be in the range of $700 million to $800 million, down more than 50% from $1.7 billion in 2024. This level of spending reflects a prioritization on sustaining existing assets and resources, with the remainder allocated to select growth projects and high-return, quick payback improvements., Other Corporate FY 2025E, Capital expenditures $700 - $800 million Depreciation and amortization $630 - $670 million Adjusted effective tax rate (a) (40%) - 25% Corporate costs (b) $70 - $100 million Interest and financing expenses $180 - $210 million Weighted-average common shares outstanding (diluted) 118 million (a) Adjusted effective tax rate dependent on lithium market prices and geographic income mix (b) FY…, Cash Flow and Capital Deployment, Cash from operations of $545 million increased $447 million compared to the prior-year period. A customer prepayment received in January and improved working capital more than offset lower adjusted EBITDA and reduced dividends received from equity investments. Capital expenditures of $183 million decreased by $397 million versus the prior-year period, reflecting the impact of decisions that…, Balance Sheet and Liquidity, As of March 31, 2025, Albemarle had estimated liquidity of approximately $3.1 billion, including $1.5 billion of cash and cash equivalents, $1.5 billion available under its revolver and $106 million available under other credit lines. Total debt was $3.5 billion, representing a debt covenant net debt to adjusted EBITDA ratio of approximately 2.4 times., Earnings Call, Date: Thurs., May 1, 2025 Time: 8:00 AM Eastern time Dial-in (U.S.): 1-800-590-8290 Dial-in (International): 1-240-690-8800 Conference ID: ALBQ1 The company's earnings presentation and supporting material are available on Albemarle's website at https://investors.albemarle.com ., About Albemarle, Albemarle Corporation (NYSE: ALB) is a global leader in transforming essential resources into critical ingredients for mobility, energy, connectivity, and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allow us to deliver advanced solutions for our customers. Learn more…, www.albemarle.com, , including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, Securities and Exchange Commission ("SEC") filings and other information regarding the company, its businesses and the markets it serves., Forward-Looking Statements, This press release contains statements concerning our expectations, anticipations and beliefs regarding the future, which constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and…, Three Months Ended, March 31,, 2025, 2024, Net sales $ 1,076,881 $ 1,360,736 Cost of goods sold 920,582 1,321,798 Gross profit 156,299 38,938 Selling, general and administrative expenses 123,502 161,376 Restructuring charges and asset write-offs (1,063) 33,536 Research and development expenses 14,099 23,532 Operating profit (loss) 19,761 (179,506) Interest and financing expenses (48,977) (37,969) Other income, net 10,250 49,901 Loss…, March 31,, December 31,, 2025, 2024, ASSETS, Current assets: Cash and cash equivalents $ 1,518,511 $ 1,192,230 Trade accounts receivable 670,775 742,201 Other accounts receivable 137,080 238,384 Inventories 1,656,365 1,502,531 Other current assets 124,551 166,916 Total current assets 4,107,282 3,842,262 Property, plant and equipment 12,660,018 12,523,368 Less accumulated depreciation and amortization 3,356,979 3,191,898 Net…, LIABILITIES AND EQUITY, Current liabilities: Accounts payable to third parties $ 778,658 $ 793,455 Accounts payable to related parties 139,296 150,432 Accrued expenses 379,871 467,997 Current portion of long-term debt 410,477 398,023 Dividends payable 61,312 61,282 Income taxes payable 174,779 95,275 Total current liabilities 1,944,393 1,966,464 Long-term debt 3,128,655 3,118,142 Postretirement…, Three Months Ended, March 31,, 2025, 2024, Cash and cash equivalents at beginning of year $ 1,192,230 $ 889,900 Cash flows from operating activities: Net income 49,298 16,647 Adjustments to reconcile net income to cash flows from operating activities: Depreciation and amortization 161,754 123,751 Stock-based compensation and other 6,966 9,317 Equity in net income of unconsolidated investments (net of tax) (64,286) (180,500)…, Three Months Ended, March 31,, 2025, 2024, Net sales:, Energy Storage $ 524,565 $ 800,898 Specialties 321,014 316,065 Ketjen 231,302 243,773 Total net sales $ 1,076,881 $ 1,360,736, Adjusted EBITDA:, Energy Storage $ 186,355 $ 197,996 Specialties 58,666 45,181 Ketjen 38,588 21,979 Total segment adjusted EBITDA 283,609 265,156 Corporate (16,465) 26,080 Total adjusted EBITDA $ 267,144 $ 291,236 See accompanying non-GAAP reconciliations below., Additional Information regarding Non-GAAP Measures, It should be noted that adjusted net income attributable to Albemarle Corporation, adjusted net (loss) income attributable to Albemarle Corporation common shareholders, adjusted diluted loss per share attributable to common shareholders, non-operating pension and other post-employment benefit ("OPEB") items per diluted share, non-recurring and other unusual items per diluted share, adjusted…, ALBEMARLE CORPORATION AND SUBSIDIARIES, Non-GAAP Reconciliations, (Unaudited), See below for a reconciliation of adjusted net income attributable to Albemarle Corporation, adjusted net (loss) income attributable to Albemarle Corporation common shareholders, EBITDA and adjusted EBITDA (on a consolidated basis), which are non-GAAP financial measures, to Net income attributable to Albemarle Corporation, the most directly comparable financial measure calculated and reported in…, Three Months Ended, March 31,, 2025, 2024, In thousands, except percentages and per share amounts, $, % of net sales, $, % of net sales, Net income attributable to Albemarle Corporation $41,348 $ 2,448 Add back: Non-operating pension and OPEB items (net of tax) 125 (351) Non-recurring and other unusual items (net of tax) (21,200) 40,044 Adjusted net income attributable to Albemarle Corporation 20,273 42,141 Mandatory convertible preferred stock dividends (41,688) (11,584) Adjusted net (loss) income attributable to Albemarle…, EBITDA, 248,101 23.0 % 160,447 11.8 % Proportionate share of Windfield income tax expense 25,326 2.4 % 73,689 5.4 % Non-operating pension and OPEB items 275 — % (325) — % Non-recurring and other unusual items (6,558) (0.6) % 57,425 4.2 %, Adjusted EBITDA, $ 267,144 24.8 % $ 291,236 21.4 % Net sales $ 1,076,881 $ 1,360,736 Non-operating pension and OPEB items, consisting of mark-to-market actuarial gains/losses, settlements/curtailments, interest cost and expected return on assets, are not allocated to Albemarle's operating segments and are included in the Corporate category. In addition, the company believes that these components of pension cost…, Three Months Ended, March 31,, 2025, 2024, Interest cost $ 8,810 $ 8,505 Expected return on assets (8,535) (8,830) Total $ 275 $ (325) In addition to the non-operating pension and OPEB items disclosed above, the company has identified certain other items and excluded them from Albemarle's adjusted net income calculation for the periods presented. A listing of these items, as well as a detailed description of…, Three Months Ended, March 31,, 2025, 2024, Restructuring charges and asset write-offs (1) $ (0.02) $ 0.23 Acquisition and integration related costs (2) 0.01 0.01 Loss in fair value of public equity securities (3) 0.03 0.35 Other (4) (0.08) (0.15) Tax related items (5) (0.12) (0.10) Total non-recurring and other unusual items $ (0.18) $ 0.34 (1) The Company took several actions during 2024 as part of a broader…, (Loss) income before income taxes and equity in net income of unconsolidated investments, Income tax (benefit) expense, Effective income tax rate, Three months ended March 31, 2025, As reported $ (18,966) $ (3,978) 21.0 % Non-recurring, other unusual and non-operating pension and OPEB items (6,283) 14,792 As adjusted $ (25,249) $ 10,814 (42.8) %, Three months ended March 31, 2024, As reported $ (167,574) $ (3,721) 2.2 % Non-recurring, other unusual and non-operating pension and OPEB items 57,100 17,407 As adjusted $ (110,474) $ 13,686 (12.4) % See below for the calculation of operating cash flow conversion, which the Company defines as Net cash provided by operating activities from the statement…, Three Months Ended, March 31, 2025, Net cash provided by operating activities $ 545,383 Less: Customer prepayment 350,000 Net cash provided by operating activities excluding customer prepayment $ 195,383 Adjusted EBITDA $ 267,144 Operating cash flow conversion 204 % Operating cash flow conversion excluding customer prepayment 73 % , Contact:, [email protected] 1.980.299.5700 View original content to download multimedia: https://www.prnewswire.com/news-releases/albemarle-reports-first-quarter-2025-results-302442938.html SOURCE Albemarle Corporation类型: Article
- CHARLOTTE, N.C. , May 6, 2025 /PRNewswire/ -- The Board of Directors of Albemarle Corp. (NYSE: ALB) announced today that it declared a quarterly common stock dividend of $0.405 per share. This marks Albemarle's 126 th consecutive quarterly cash dividend. The dividend, which has an annualized rate of $1.62, is payable July 1, 2025, to shareholders of record at the close of business as of June 13…, About Albemarle, Albemarle Corp. (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about how…, Forward-Looking Statements, This press release contains statements concerning our expectations, anticipations and beliefs regarding the future, including, without limitation, statements related to future dividends and results, which may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from the views expressed. Factors…, Media Contact: Peter Smolowitz, +1 (980) 308-6310, [email protected], Investor Relations Contact: +1 (980) 299-5700, [email protected], View original content to download multimedia: https://www.prnewswire.com/news-releases/albemarle-announces-126th-consecutive-quarterly-common-stock-dividend-302447633.html SOURCE Albemarle Corporation类型: Article
- CHARLOTTE, N.C., May 7, 2024 /PRNewswire/ -- The Board of Directors of Albemarle Corporation (NYSE: ALB) announces that it has declared a quarterly dividend of $0.40 per share. The dividend, which has an annualized rate of $1.60, is payable July 1, 2024, to shareholders of record at the close of business as of June 14, 2024., About Albemarle, Albemarle Corporation (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity, and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more…, Forward-Looking Statements, Some of the information presented in this press release, including, without limitation, information related to future dividends and results, and all other information relating to matters that are not historical facts may constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from the views expressed…, Media Contact:, Jennifer Zajac, +1 (980) 308-6259, [email protected], Investor Relations Contact: , Meredith Bandy, +1 (980) 999-5768, [email protected] View original content to download multimedia: https://www.prnewswire.com/news-releases/albemarle-announces-quarterly-dividend-302138815.html SOURCE Albemarle Corporation类型: Article
- CHARLOTTE, N.C. , March 4, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB) ("Albemarle" or the "Company"), a global leader in providing essential elements for mobility, energy, connectivity, and health, today announced that, subject to market and other conditions, it has commenced an offering (the "Offering") of $1.75 billion of depositary shares ("Depositary Shares"), each representing a…, About Albemarle Corporation, Albemarle Corporation (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity, and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers., Forward-Looking Statements, This press release contains statements concerning Albemarle's expectations, anticipations and beliefs regarding the future, which constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on assumptions that Albemarle has made as of the date hereof and are subject to known and unknown risks…类型: Article
- CHARLOTTE, N.C. , Feb. 22, 2024 /PRNewswire/ -- The Board of Directors of Albemarle Corporation (NYSE: ALB) announces that it has declared a quarterly dividend of $0.40 per share. The dividend, which has an annualized rate of $1.60, is payable April 1, 2024, to shareholders of record at the close of business as of March 15, 2024., About Albemarle, Albemarle Corporation (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity, and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more…, Forward-Looking Statements, Some of the information presented in this press release, including, without limitation, information related to future dividends and results, and all other information relating to matters that are not historical facts may constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from the views expressed…类型: Article
- CHARLOTTE, N.C. , Feb. 19, 2024 /PRNewswire/ --, Albemarle Corporation, (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, announced today that Albemarle Corporation's Chairman and CEO Kent Masters is scheduled to present at the BMO Capital Markets 2024 Investor Conference on Monday, Feb. 26, 2024, at 1:30 pm ET. A webcast replay will be available following the conclusion of the event through the News and…, About Albemarle, Albemarle Corporation (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity, and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about…类型: Article
- Full-Year Net Sales Increase of 31%, Driven by 21% Volume Growth CHARLOTTE, N.C. , Feb. 14, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced its results for the fourth quarter and full year ended December 31, 2023., Full Year 2023 Results, (Unless otherwise stated, all percentage changes represent year-over-year comparisons) Net sales of $9.6 billion, the highest in company history, up 31%, of which 21% was total volume growth; Energy Storage sales volumes were up 35% Net income of $1.6 billion, or $13.36 per diluted share, the second highest in company history, which included a lower of cost or net realizable value (LCM) pre-tax…, Fourth Quarter, 2023 Results and Recent Highlights, Net sales of $2.4 billion, primarily driven by 35% volume growth in Energy Storage Net loss of $618 million, or ($5.26) per diluted share, including the LCM charge and tax valuation allowance expense Adjusted EBITDA of ($315) million, or $289 million excluding the LCM charge Adjusted diluted EPS of ($5.19), or $1.85 excluding the LCM charge and tax valuation allowance expense Announced proactive…, Fourth Quarter 2023 Results, In millions, except per share amounts, Q4 2023, Q4 2022, $ Change, % Change, Net sales $ 2,356.2 $ 2,621.0 $ (264.8) (10.1) % Net (loss) income attributable to Albemarle Corporation $ (617.7) $ 1,132.4 $ (1,750.1) (154.5) % Adjusted EBITDA (a) $ (315.0) $ 1,243.8 $ (1,558.8) (125.3) % Diluted (loss) earnings per share $ (5.26) $ 9.60 $ (14.86) (154.8) % Non-operating pension and OPEB items (a) (0.07) (0.26) Non-recurring and…, Energy Storage Results, In millions, Q4 2023, Q4 2022, $ Change, % Change, Net Sales $ 1,675.1 $ 1,980.8 $ (305.7) (15.4) % Adjusted EBITDA $ (338.3) $ 1,178.9 $ (1,517.1) (128.7) % Energy Storage net sales of $1.7 billion decreased $305.7 million (-15%) due to lower pricing net of foreign currency (-50%) related to lower lithium market pricing. Volume was higher (+35%) related primarily to the La Negra III/IV expansion in…, Specialties Results, In millions, Q4 2023, Q4 2022, $ Change, % Change, Net Sales $ 339.6 $ 404.6 $ (65.0) (16.1) % Adjusted EBITDA $ 29.8 $ 93.8 $ (63.9) (68.2) % Specialties net sales of $339.6 million decreased $65.0 million (-16%) primarily due to decreased pricing net of foreign currency (-15%) and lower volumes (-2%). Adjusted EBITDA of $29.8 million decreased $63.9 million primarily due to lower…, Ketjen Results, In millions, Q4 2023, Q4 2022, $ Change, % Change, Net Sales $ 341.5 $ 235.5 $ 105.9 45.0 % Adjusted EBITDA $ 31.3 $ (2.6) $ 33.9 * * Percentage change not meaningful. Ketjen net sales of $341.5 million increased $105.9 million (+45%) compared to the previous year due to higher volumes (+37%) and higher pricing net of foreign currency (+7%). Adjusted EBITDA of $31.3 million…, Updated Adjusted EBITDA Definition, Beginning in 2024, the company will change its definition of adjusted EBITDA for financial accounting purposes. The updated definition includes Albemarle's share of the pre-tax earnings of the Talison joint venture, whereas the prior definition included Albemarle's share of Talison earnings net of tax. This presentation more closely represents the materiality and financial contribution of the…, 2024 Outlook Considerations, Energy Storage Market Price Scenarios, The table below reflects expected outcomes for Albemarle's Energy Storage segment based on recently observed lithium market price scenarios. Ranges are based on a projected increase in Energy Storage volumes of 10% to 20% in 2024 compared to 2023. All three scenarios assume flat market pricing flowing through Energy Storage's current contract book. Scenarios also assume spodumene pricing…, Energy Storage FY 2024E, Observed market price case (a) YE 2023 Q4 2023 average H2 2023 average Average lithium market price ($/kg LCE) (a) ~$15 ~$20 ~$25 Net sales $3.2 - $3.4 billion $3.8 - $4.1 billion $4.5 - $4.9 billion Adjusted EBITDA (b) $0.7 - $0.8 billion $1.3 - $1.5 billion $2.0 - $2.3 billion Equity in net income of unconsolidated investments (net of tax) (c)(d) $0.8 - $0.9 billion $0.9 - $1.0 billion $1.0 - $…, Specialties and Ketjen Outlook Considerations, Specialties outlook reflects continued softness in consumer electronics and elastomers, partially offset by stronger demand in other end-markets, including oilfield services, agriculture, and pharmaceuticals. Demand visibility is expected to remain low in the first half of 2024. Specialties outlook assumes operations continue as normal in the Middle East, with some shipping delays and tighter…, Segment FY 2024E, Specialties net sales $1.3 - $1.5 billion Specialties adjusted EBITDA $270 - $330 million Ketjen net sales $1.0 - $1.2 billion Ketjen adjusted EBITDA $130 - $150 million , Other Corporate Outlook Considerations, Albemarle expects its 2024 capital expenditures to be in the range of $1.6 billion to $1.8 billion, down from approximately $2.1 billion in 2023. This level of spending reflects a re-phasing of larger projects to focus on those that are significantly progressed, near completion and in startup., Other Corporate FY 2024E, Capital expenditures $1.6 - $1.8 billion Depreciation and amortization $580 - $660 million Adjusted effective tax rate 27% - 28% Corporate costs $120 - $150 million Interest and financing expenses $180 - $220 million Weighted-average common shares outstanding (diluted) 117.7 million , Total Corporate Outlook Considerations, The company's full-year outlook has been constructed assuming the above Specialties, Ketjen and Corporate outlook considerations plus the three Energy Storage market price scenarios., Total Corporate FY 2024E , Including Energy Storage Scenarios, Observed market price case (a) YE 2023 Q4 2023 average H2 2023 average Average lithium market price ($/kg LCE) (a) ~$15 ~$20 ~$25 Net sales $5.5 - $6.2 billion $6.1 - $6.8 billion $6.9 - $7.6 billion Adjusted EBITDA (b)(c) $0.9 - $1.2 billion $1.6 - $1.8 billion $2.3 - $2.6 billion (a) Price represents blend of relevant Asia and China market indices for the periods referenced. (b) The company…, Cash Flow and Capital Deployment, Cash from operations of $1.3 billion for the year ended December 31, 2023 decreased $747.6 million compared to the prior year period. This was driven by lower adjusted EBITDA and working capital changes that were primarily due to increases in receivables and inventories from higher lithium pricing, partially offset by increased dividends received from equity investments. Capital expenditures of $…, Balance Sheet and Liquidity, As of December 31, 2023, Albemarle had estimated liquidity of approximately $1.9 billion, including $889.9 million of cash and equivalents, $880.0 million available under its revolver and $104 million available on other credit lines. On February 9, 2024, Albemarle completed an amendment to its credit agreement to ensure on-going financial flexibility. The amendment uses an updated adjusted EBITDA…, Earnings Call, Date: Thurs., Feb. 15, 2024 Time: 9:00 AM Eastern time Dial-in (U.S.): +1 888-330-2007 Dial-in (International): +1 646-960-0105 Passcode: 5205664 The company's earnings presentation and supporting material are available on Albemarle's website at https://investors.albemarle.com ., About Albemarle, Albemarle Corporation (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity, and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allow us to deliver advanced solutions for our customers. Learn more about…, www.albemarle.com, , including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, Securities and Exchange Commission ("SEC") filings and other information regarding the company, its businesses and the markets it serves., Forward-Looking Statements, This press release contains statements concerning our expectations, anticipations and beliefs regarding the future, which constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and…, Three Months Ended, Year Ended, December 31,, December 31,, 2023, 2022, 2023, 2022, Net sales, $ 2,356,165 $ 2,620,978 $ 9,617,203 $ 7,320,104 Cost of goods sold 3,060,217 1,619,659 8,431,294 4,245,517, Gross profit, (704,052) 1,001,319 1,185,909 3,074,587 Selling, general and administrative expenses 194,251 148,156 919,493 524,145 Research and development expenses 22,753 20,154 85,725 71,981 (Gain) loss on change in interest in properties/sale of business, net (71,190) — (71,190) 8,400, Operating profit, (849,866) 833,009 251,881 2,470,061 Interest and financing expenses (34,386) (24,039) (116,072) (122,973) Other (expenses) income, net (36,699) 54,119 110,929 86,356 (Loss) income before income taxes and equity in net income of unconsolidated investments (920,951) 863,089 246,738 2,433,444 Income tax expense 118,878 24,102 430,277 390,588 (Loss) income before equity in net income of…, December 31,, December 31,, 2023, 2022, ASSETS, Current assets: Cash and cash equivalents $ 889,900 $ 1,499,142 Trade accounts receivable 1,213,160 1,190,970 Other accounts receivable 509,097 185,819 Inventories 2,161,287 2,076,031 Other current assets 443,475 234,955 Total current assets 5,216,919 5,186,917 Property, plant and equipment 12,233,757 9,354,330 Less accumulated depreciation and amortization 2,738,553 2,…, LIABILITIES AND EQUITY, Current liabilities: Accounts payable to third parties $ 1,537,859 $ 1,533,624 Accounts payable to related parties 550,186 518,377 Accrued expenses 544,835 505,894 Current portion of long-term debt 625,761 2,128 Dividends payable 46,666 46,116 Income taxes payable 255,155 134,876 Total current liabilities 3,560,462 2,741,015 Long-term debt 3,541,002 3,214,972…, Year Ended, December 31,, 2023, 2022, Cash and cash equivalents at beginning of year $ 1,499,142 $ 439,272 Cash flows from operating activities: Net income 1,670,543 2,815,131 Adjustments to reconcile net income to cash flows from operating activities: Depreciation and amortization 429,944 300,841 (Gain) loss on change in interest in properties/sale of business, net (71,190) 8,400 Inventory net realizable value adjustment 604,…, Three Months Ended, Year Ended, December 31,, December 31,, 2023, 2022, 2023, 2022, Net sales:, Energy Storage $ 1,675,088 $ 1,980,795 $ 7,078,998 $ 4,660,945 Specialties 339,623 404,637 1,482,425 1,759,587 Ketjen 341,454 235,546 1,055,780 899,572 Total net sales $ 2,356,165 $ 2,620,978 $ 9,617,203 $ 7,320,104, Adjusted EBITDA:, Energy Storage $ (338,287) $ 1,178,853 $ 2,407,393 $ 3,032,260 Specialties 29,841 93,784 298,506 527,318 Ketjen 31,288 (2,605) 103,872 28,732 Total segment adjusted EBITDA (277,158) 1,270,032 2,809,771 3,588,310 Corporate (37,829) (26,280) (43,486) (112,453) Total adjusted EBITDA $ (314,987) $ 1,243,752 $ 2,766,285 $ 3,475,857 See accompanying non-GAAP reconciliations below., Additional Information regarding Non-GAAP Measures, It should be noted that adjusted net income attributable to Albemarle Corporation, adjusted diluted earnings per share, non-operating pension and other post-employment benefit ("OPEB") items per diluted share, non-recurring and other unusual items per diluted share, adjusted effective income tax rates, EBITDA, adjusted EBITDA (on a consolidated basis), EBITDA margin and adjusted EBITDA margin are…, ALBEMARLE CORPORATION AND SUBSIDIARIES, Non-GAAP Reconciliations, (Unaudited), See below for a reconciliation of adjusted net income attributable to Albemarle Corporation, EBITDA and adjusted EBITDA (on a consolidated basis), which are non-GAAP financial measures, to Net income attributable to Albemarle Corporation ("earnings"), the most directly comparable financial measure calculated and reported in accordance with GAAP. Adjusted net income attributable to Albemarle…, Three Months Ended, Year Ended, December 31,, December 31,, 2023, 2022, 2023, 2022, In thousands, except percentages and per share amounts, $, % of net sales, $, % of net sales, $, % of net sales, $, % of net sales, Net (loss) income attributable to Albemarle Corporation $ (617,680) $ 1,132,445 $ 1,573,476 $ 2,689,816 Add back: Non-operating pension and OPEB items (net of tax) (8,107) (30,168) (6,966) (42,189) Non-recurring and other unusual items (net of tax) 16,262 (85,400) 226,356 (61,377) Adjusted net (loss) income attributable to Albemarle Corporation $ (609,525) $ 1,016,877 $ 1,792,866 $ 2,586,250…, Three Months Ended, Year Ended, December 31,, December 31,, 2023, 2022, 2023, 2022, MTM actuarial gain $ (10,174) $ (36,989) $ (10,174) $ (36,989) Interest cost 8,859 5,814 35,950 23,497 Expected return on assets (8,489) (10,512) (33,747) (43,540) Total $ (9,804) $ (41,687) $ (7,971) $ (57,032) In addition to the non-operating pension and OPEB items disclosed above, the company has identified certain other items and excluded them from Albemarle's…, Three Months Ended, Year Ended, December 31,, December 31,, 2023, 2022, 2023, 2022, Acquisition and integration related costs (1) $ 0.03 $ 0.05 $ 0.18 $ 0.11 Goodwill impairment (2) 0.05 — 0.05 — (Gain) loss on change in interest in properties, net (3) (0.40) — (0.40) 0.07 Mark-to-market loss (gain) on public equity securities (4) 0.51 0.04 0.29 (0.03) Loss on extinguishment of debt (5) — — — 0.13 Legal accrual (6) — — 1.82 — Other (7) (0.04) 0.05…, Income (loss) before income taxes and equity in net income of unconsolidated investments, Income tax expense, Effective income tax rate, Three months ended December 31, 2023:, As reported $ (920,951) $ 118,878 (12.9) % Non-recurring, other unusual and non-operating pension and OPEB items 5,286 (2,869) As adjusted $ (915,665) $ 116,009 (12.7) %, Three months ended December 31, 2022:, As reported $ 863,089 $ 24,102 2.8 % Non-recurring, other unusual and non-operating pension and OPEB items (22,394) 93,174 As adjusted $ 840,695 $ 117,276 14.0 %, Year ended December 31, 2023:, As reported $ 246,738 $ 430,277 174.4 % Non-recurring, other unusual and non-operating pension and OPEB items 216,516 (2,874) As adjusted $ 463,254 $ 427,403 92.3 %, Year ended December 31, 2022:, As reported $ 2,433,444 $ 390,588 16.1 % Non-recurring, other unusual and non-operating pension and OPEB items (8,821) 94,424 As adjusted $ 2,424,623 $ 485,012 20.0 % As noted above, beginning in 2024, the company will change its definition of adjusted EBITDA for financial accounting purposes. The updated definition includes…, Year ended December 31, 2023, As Reported, As Adjusted - 2024 Definition, Net income attributable to Albemarle Corporation $ 1,573,476 $ 1,573,476 Depreciation and amortization 429,944 429,944 Interest and financing expenses 116,072 116,072 Income tax expense 430,277 430,277 Proportionate share of Windfield Holdings income tax expense 785,824 Gain on sale of business/interest in properties, net (71,190) (71,190) Acquisition and integration related…, Total adjusted EBITDA, $ 2,766,285, $ 3,552,109, View original content to download multimedia: https://www.prnewswire.com/news-releases/albemarle-reports-fourth-quarter-and-full-year-2023-results-302062244.html SOURCE Albemarle Corporation类型: Article
- Proactive measures to re-phase growth investments and optimize cost structure, to generate long-term financial flexibility and unlock >$750 million of, cash flow over the near term, CHARLOTTE, N.C. , Jan. 17, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, today outlined a series of proactive measures underway to re-phase its organic growth investments and optimize its cost structure in response to changing end-market conditions, particularly in the lithium value chain.…, About Albemarle, Albemarle Corporation (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity, and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allow us to deliver advanced solutions for our customers. Learn more…, Forward-Looking Statements, This press release contains statements concerning our expectations, anticipations and beliefs regarding the future, which constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and…类型: Article
- CHARLOTTE, N.C. , Jan. 11, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, announced today that it will release its fourth-quarter 2023 earnings after the NYSE closes on Wednesday, February 14, 2024. The company will hold a conference call to discuss its fourth-quarter 2023 results on Thursday…, http://investors.albemarle.com., Direct dial numbers are provided below:, PARTICIPANT INFORMATION:, Participant Toll-Free Dial-In Number: +1 (888) 330-2007 Participant Toll Dial-In Number: +1 (646) 960-0105 Conference ID: 5205664 INTERNATIONAL ACCESS NUMBERS: https://events.q4irportal.com/custom/access/2324/, Participants will need to enter the participant access code before being met by an operator., Webcast Details, Event Title: Albemarle's Fourth Quarter 2023 Earnings Conference Call Event Date: February 15, 2024 Start Time: 09:00 AM (GMT-05:00) Eastern Time (US and Canada), Attendee URL:, https://events.q4inc.com/attendee/434662125, Encore Dial-In Information, Encore Toll Free Dial in Number: 1-800-770-2030 Encore Toll Dial in Number: 1-647-362-9199 Encore Replay Dates: 02/15/2024 – 02/22/2024 23:59 ET, About Albemarle, Albemarle Corporation (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity, and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allow us to deliver advanced solutions for our customers. Learn more about…类型: Article
- CHARLOTTE, N.C. , Nov. 17, 2023 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, today announced that Cynthia Lima has been promoted to senior vice president, chief external affairs and communications officer. "We operate in an increasingly interconnected world, where our ability to engage with key…, About Albemarle, Albemarle Corporation (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity, and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about…类型: Article