- Highlights company's strong leadership, focus on partnering with customers CHARLOTTE, N.C. , June 26, 2023 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, today announced that Kent Masters, Albemarle's Chief Executive Officer, has been named to Barron's Top CEOs of 2023. The list of 25 CEOs was…, 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…Typ: Article
- List debut recognizes company's essential role in building a more resilient world CHARLOTTE, N.C. , June 21, 2023 /PRNewswire/ -- , Albemarle Corporation, (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, today announced it has been named to TIME's 100 Most Influential Companies list. The annual list highlights companies making an extraordinary impact around the world, evaluated on impact, innovation, ambition, and success. The news follows Albemarle's first inclusion on the Fortune 500…, time.com/100companies, . For more information about Albemarle Corporation, please visit, www.albemarle.com, . To learn more about the progress Albemarle is making toward its sustainability goals, please visit the, 2022 Sustainability Report., , 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…Typ: Article
- Company earns IRMA 50 Rating for Salar de Atacama Lithium Site in Chile CHARLOTTE, N.C. , June 20, 2023 /PRNewswire/ -- , Albemarle Corporation, (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced that it achieved an IRMA 50 level of performance in an independent third-party assessment of its lithium brine extraction and concentration site in the Salar de Atacama, using the Initiative for Responsible Mining Assurance's (IRMA) comprehensive mining standard. This marks…, Albemarle's Sustainable Commitments, Albemarle's IRMA 50 rating at the Salar de Atacama site is just one of the company's many sustainable commitments and efforts in Chile and at its sites around the globe, including: Albemarle is committed to the development of a new lithium era by collaborating with others to explore bringing desalinated seawater to the Salar de Atacama basin and researching new lithium production technologies.…, 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…, About IRMA, Developed through a decade of public consultations, with input from more than 100 companies and organizations, the IRMA Standard and assessment process recognize the concerns of Indigenous rights holders, communities and mine workers, as well as environmental and human rights advocates and other representatives of civil society — giving them an equal voice alongside mining companies, purchasers…, Forward-Looking Statements, Some of the information presented in this press release, including, without limitation, information regarding the publishing of the IRMA audit report, sustainability goals and commitments, targets and timelines for achievement, environmental impact reduction goals, sustainability priorities, and all other information relating to matters that are not historical facts may constitute forward-looking…Typ: Article
- CHARLOTTE, N.C. and HOUSTON , June 7, 2023 /PRNewswire/ -- Albemarle Corporation, a global leader in providing essential elements for mobility, energy, connectivity, and health, announced the appointment of Michael J. Simmons to president of its wholly owned subsidiary, Ketjen Corporation, effective today. Simmons succeeds Raphael Crawford who will remain with the company through a transition…, About Ketjen, Ketjen is a provider of advanced catalyst solutions to leading producers in the petrochemical, refining and specialty chemicals industries. From fluidized catalytic cracking to clean fuels solutions to hydro-processing to organometallics and curatives, Ketjen delivers safe and reliable solutions that increase production performance and business value. A wholly owned subsidiary of Albemarle…, 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…Typ: Article
- First-time appearance highlights company's continued growth and success CHARLOTTE, N.C. , June 5, 2023 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, today announced it has been named a Fortune 500 company. The Fortune 500 list is assembled annually by Fortune magazine and ranks the largest…, Fortune's website., For more information about Albemarle Corporation, please visit, www.albemarle.com, . , FORTUNE 500 Methodology:, Companies are ranked by total revenues for their respective fiscal years. Included in the survey are companies that are incorporated in the U.S. and operate in the U.S. and file financial statements with a government agency. This includes private companies and cooperatives that file a 10-K or a comparable financial statement with a government agency, and mutual insurance companies that file…, 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…Typ: Article
- Company hosting Sustainability Day webcast with leadership on June 20 at 9 a.m. EDT, CHARLOTTE, N.C., June 5, 2023 – , Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today released its annual Sustainability Report, , Committed to Building a More Resilient World, ., 2022 Sustainability Report Highlights, On-track progress toward sustainability goals and targets New goals for air quality, scope 3 greenhouse gas emissions (GHG) and diversity Initial Task Force for Climate-related Financial Disclosures (TCFD) report Sustainability Day webcast scheduled for Tuesday, June 20, 2023, at 9 a.m. EDT “Our annual Sustainability Report is an opportunity to share the progress we have made on our key…, Progress Against Sustainability Targets, Albemarle is on track to achieve its goal of reducing the intensity of freshwater usage in Chile and Jordan by 25% by 2030. Albemarle finished 2022 ahead of its diversity, equity and inclusion (DE&I) targets of increasing global gender diversity and U.S. racial diversity in senior-level management roles year-over-year. Lithium GHG emissions intensity is tracking well below 2030 target.…, Task Force for Climate-related Financial Disclosures Report, In 2022, Albemarle began to report aligned with the TCFD recommendations by providing investors and other stakeholders with more comprehensive information about the impacts of climate change on the business. For more information, please view Albemarle's 2022 Sustainability Report ., Albemarle Sustainability Day Webcast, Albemarle will host its annual Sustainability Day webcast on Tuesday, June 20, 2023, at 9 a.m. EDT featuring updates from CEO Kent Masters, global leadership across Energy Storage, Specialties, DE&I, Finance and Global External Affairs, as well as community partners and customers. Registration for the webcast can be accessed here. Once registered, users will receive a link via email to…, 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…, 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…, Investor Relations Contact: Brook Wootton, , +1 (980)-766-1922, [email protected], Media Contact: Hailey Quinn, , +1 (980)-299-5640, [email protected]Typ: Article
- New five-year agreement supports EV production growth plans CHARLOTTE, N.C. , May 22, 2023 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced a definitive agreement with Ford Motor Company to deliver battery-grade lithium hydroxide to support the automaker's ability to scale electric…, 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 Ford Motor Company, Ford Motor Company is a global company based in Dearborn, Michigan, committed to helping build a better world, where every person is free to move and pursue their dreams. The company's Ford+ plan for growth and value creation combines existing strengths, new capabilities, and always-on relationships with customers to enrich experiences for customers and deepen their loyalty. Ford develops and…, corporate.ford.com, . , 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…Typ: Article
- CHARLOTTE, N.C. , May 18, 2023 /PRNewswire/ --, Albemarle Corporation, (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced that Scott Tozier, chief financial officer, and Meredith Bandy, vice president of investor relations and sustainability, will participate in a fireside chat at TD Cowen Sustainability Week on Tuesday, June 6. The fireside chat is scheduled from 1:10 p.m. to 1:40 p.m. EDT.…, 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…Typ: Article
- CHARLOTTE, N.C. , May 3, 2023 /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, 2023., First-Quarter, 2023 and Recent Highlights, (Unless otherwise stated, all percentage changes represent year-over-year comparisons) Net sales of $2.6 billion, an increase of 129% Net income of $1.2 billion, or $10.51 per diluted share, an increase of 389% Adjusted diluted EPS of $10.32, an increase of 334% Adjusted EBITDA of $1.6 billion, an increase of 269% Selected U.S. lithium processing facility location in Richburg, South Carolina …, 2023, Corporate Outlook, The company is revising full-year 2023 outlook to reflect current lithium market pricing. Net sales are expected to increase 35% to 55% over prior year, primarily driven by a continued global shift to electric vehicles. The year-over-year change in Adjusted EBITDA is expected to be in the range of (5%) to 15% as higher net sales are partially offset by timing impacts of higher priced inventories…, FY 2023 Guidance, as of Feb.15, 2023, FY 2023 Guidance, as of May 3, 2023, Net sales $11.3 - $12.9 billion $9.8 - $11.5 billion Adjusted EBITDA (a) $4.2 - $5.1 billion $3.3 - $4.0 billion Adjusted EBITDA Margin (a) 37% - 40% 34% - 35% Adjusted Diluted EPS (a) $26.00 - $33.00 $20.75 - $25.75 Net Cash from Operations $2.1 - $2.4 billion $1.7 - $2.3 billion Capital Expenditures $1.7 - $1.9 billion $1.7 - $1.9 billion (a) The company does not provide a reconciliation of…, First Quarter 2023 Results, In millions, except per share amounts, Q1 2023, Q1 2022, $ Change, % Change, Net sales $ 2,580.3 $ 1,127.7 $ 1,452.5 128.8 % Net income attributable to Albemarle Corporation $ 1,238.6 $ 253.4 $ 985.2 388.8 % Adjusted EBITDA (a) $ 1,595.7 $ 431.9 $ 1,163.8 269.4 % Diluted earnings per share $ 10.51 $ 2.15 $ 8.36 388.8 % Non-operating pension and OPEB items (a) — (0.04) Non-recurring and other unusual items (a…, Business Segment Results, Beginning January 1, 2023, the company re-segmented its operating segments. The results from 2022 are restated to align with the new structure., Energy Storage Results, In millions, Q1 2023, Q1 2022, $ Change, % Change, Net Sales $ 1,943.7 $ 463.7 $ 1,480.0 319.2 % Adjusted EBITDA $ 1,406.2 $ 285.2 $ 1,120.9 393.0 % Energy Storage net sales for the first quarter of 2023 were $1.9 billion, an increase of $1.5 billion (+319%) due to higher pricing net of FX (+301%) related to renegotiated contracts and increased market pricing. Volume was also higher (+18%) related…, 2023 Energy Storage Outlook, Energy Storage net sales are estimated to range between $6.9 to $8.4 billion. Energy Storage volumes are projected to be up 30% to 40% in 2023 compared to 2022. Full year realized pricing is expected to be up 20% to 30% vs. the prior year, assuming flat lithium market pricing as of mid-April 2023. Adjusted EBITDA anticipated to range between $2.7 and $3.4 billion as higher priced spodumene…, Specialties Results, In millions, Q1 2023, Q1 2022, $ Change, % Change, Net Sales $ 418.8 $ 446.1 $ (27.4) (6.1) % Adjusted EBITDA $ 162.2 $ 152.6 $ 9.6 6.3 % Specialties net sales for the first quarter of 2023 were $418.8 million, a decrease of $27.4 million (-6%) primarily due to lower volumes (-15%), partially offset by increased pricing net of FX (+9%) primarily in our lithium specialties division…, 2023 Specialties Outlook, Albemarle is reaffirming its 2023 outlook for Specialties net sales to range between $1.8 billion to $1.9 billion, with adjusted EBITDA estimated from $555 million to $585 million. Adjusted EBITDA margins are expected to be approximately flat year-over-year., Ketjen Results, In millions, Q1 2023, Q1 2022, $ Change, % Change, Net Sales $ 217.8 $ 217.9 $ (0.1) — % Adjusted EBITDA $ 14.5 $ 16.9 $ (2.4) (14.0) % Ketjen net sales of $217.8 million for the first quarter of 2023 were flat compared to the previous year due to higher pricing net of FX (+12%) offset by lower volumes (-12%). Adjusted EBITDA of $14.5 million declined $2.4 million due to higher…, 2023 Ketjen Outlook, Albemarle expects Ketjen net sales in 2023 to range between $1.0 billion and $1.1 billion, with adjusted EBITDA in the range of $100 million to $140 million. Adjusted EBITDA guidance is up from prior guidance as the segment is benefiting from a recovery in refining pricing and managing processing costs., Balance Sheet and Liquidity, As of March 31, 2023, Albemarle had estimated liquidity of approximately $3.3 billion, including $1.6 billion of cash and equivalents, the full $1.5 billion under its revolver and $180.5 million available on other credit lines. Total debt was $3.2 billion, representing our debt covenant net debt to adjusted EBITDA of approximately 0.4 times., Cash Flow and Capital Deployment, Cash from operations of $721.0 million increased $514.8 million versus the prior year period. This was driven by increased adjusted EBITDA and dividends received from equity investments, partially offset by working capital changes, that were primarily due to the increase in receivables and inventories from higher lithium pricing. Capital expenditures of $415.6 million increased by $183.9 million…, Earnings Call, Date: Thursday, May 4, 2023 Time: 9:00 AM Eastern time Dial-in (U.S.): 1.833.470.1428 Dial-in (International): 1.404.662.2808 Passcode: 741195 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…, 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,, 2023, 2022, Net sales, $ 2,580,252 $ 1,127,728 Cost of goods sold 1,303,712 678,698, Gross profit, 1,276,540 449,030 Selling, general and administrative expenses 154,306 112,568 Research and development expenses 20,471 16,083 Loss on sale of interest in properties — 8,400, Operating profit, 1,101,763 311,979 Interest and financing expenses (26,777) (27,834) Other income, net 82,492 15,496 Income before income taxes and equity in net income of unconsolidated investments 1,157,478 299,641 Income tax expense 276,963 80,530 Income before equity in net income of unconsolidated investments 880,515 219,111 Equity in net income of unconsolidated investments (net of tax) 396,188 62,436 Net…, March 31,, December 31,, 2023, 2022, ASSETS, Current assets: Cash and cash equivalents $ 1,586,734 $ 1,499,142 Trade accounts receivable 1,351,915 1,190,970 Other accounts receivable 312,560 185,819 Inventories 3,180,825 2,076,031 Other current assets 225,541 234,955 Total current assets 6,657,575 5,186,917 Property, plant and equipment 9,830,257 9,354,330 Less accumulated depreciation and amortization 2,476,768 2,391,333 Net…, LIABILITIES AND EQUITY, Current liabilities: Accounts payable to third parties $ 1,758,254 $ 1,533,624 Accounts payable to related parties 1,012,822 518,377 Accrued expenses 403,336 505,894 Current portion of long-term debt 2,167 2,128 Dividends payable 46,753 46,116 Income taxes payable 282,037 134,876 Total current liabilities 3,505,369 2,741,015 Long-term debt 3,233,393 3,214,972 Postretirement benefits…, Three Months Ended, March 31,, 2023, 2022, Cash and cash equivalents at beginning of year $ 1,499,142 $ 439,272 Cash flows from operating activities: Net income 1,276,703 281,547 Adjustments to reconcile net income to cash flows from operating activities: Depreciation and amortization 87,271 66,574 Loss on sale of interest in properties — 8,400 Stock-based compensation and other 10,540 4,245 Equity in net income of unconsolidated…, Three Months Ended, March 31,, 2023, 2022, Net sales:, Energy Storage $ 1,943,682 $ 463,704 Specialties 418,778 446,147 Ketjen 217,792 217,877 Total net sales $ 2,580,252 $ 1,127,728, Adjusted EBITDA:, Energy Storage $ 1,406,181 $ 285,247 Specialties 162,158 152,602 Ketjen 14,543 16,910 Total segment adjusted EBITDA 1,582,882 454,759 Corporate 12,837 (22,829) Total adjusted EBITDA $ 1,595,719 $ 431,930 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. Reconciliation of adjusted EBITDA on a segment…, Three Months Ended, March 31,, 2023, 2022, In thousands, except percentages and per share amounts, $, % of net sales, $, % of net sales, Net income attributable to Albemarle Corporation $ 1,238,580 $ 253,383 Add back: Non-operating pension and OPEB items (net of tax) 374 (4,139) Non-recurring and other unusual items (net of tax) (22,774) 30,903 Adjusted net income attributable to Albemarle Corporation $ 1,216,180 $ 280,147 Adjusted diluted earnings per share $ 10.32 $ 2.38 Weighted-average common…, EBITDA, 1,629,591 63.2 % 428,321 38.0 % Non-operating pension and OPEB items 601 — % (5,280) (0.5) % Non-recurring and other unusual items (34,473) (1.3) % 8,889 0.8 %, Adjusted EBITDA, $ 1,595,719 61.8 % $ 431,930 38.3 % Net sales $ 2,580,252 $ 1,127,728 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…, Three Months Ended, March 31,, 2023, 2022, Interest cost $ 9,010 $ 5,932 Expected return on assets (8,409) (11,212) Total $ 601 $ (5,280) 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,, 2023, 2022, Acquisition and integration related costs (1) $ 0.03 $ 0.01 Loss on sale of interest in properties (2) — 0.07 Mark-to-market gain on public equity securities (3) (0.29) — Other (4) 0.04 (0.01) Tax related items (5) 0.03 0.19 Total non-recurring and other unusual items $ (0.19) $ 0.26 (1) Costs related to the acquisition, integration and divestitures for various…, Income before income taxes and equity in net income of unconsolidated investments, Income tax expense, Effective income tax rate, Three months ended March 31, 2023, As reported $ 1,157,478 $ 276,963 23.9 % Non-recurring, other unusual and non-operating pension and OPEB items (33,872) (11,472) As adjusted $ 1,123,606 $ 265,491 23.6 %, Three months ended March 31, 2022, As reported $ 299,641 $ 80,530 26.9 % Non-recurring, other unusual and non-operating pension and OPEB items 3,609 (23,155) As adjusted $ 303,250 $ 57,375 18.9 % View original content to download multimedia: https://www.prnewswire.com/news-releases/albemarle-reports-net-sales-increase-of-129-for-first-quarter-…Typ: Article
- CHARLOTTE, N.C. , May 2, 2023 /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 3, 2023, to shareholders of record at the close of business as of June 16, 2023., 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…, 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…, Investor Relations Contact: Brook Wootton, , +1 (980)-766-1922, [email protected] View original content to download multimedia: https://www.prnewswire.com/news-releases/albemarle-corporation-announces-dividend-301813748.html SOURCE Albemarle CorporationTyp: Article