CHARLOTTE, N.C. , May 23, 2018 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that Luke Kissam , Albemarle Chairman, President and CEO, will present at the Bernstein 34 th Annual Strategic Decisions Conference in New York City on Wednesday, May 30, 2018 . In addition to Kissam, Scott Tozier , Executive Vice President and…, About Albemarle, Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, NC , is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We power the potential of companies in many of the world's largest and most critical industries, from energy and communications to transportation and electronics. Working side-by-side with our customers, we develop value-…
タイプ: Article
CHARLOTTE, N.C. , May 14, 2018 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that Scott Tozier , Albemarle Executive Vice President and Chief Financial Officer, will participate in a Fireside Chat at the Deutsche Bank 9 th Annual Global Industrials & Materials Summit in Chicago on Thursday, June 7, 2018 . In addition…, About Albemarle, Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, NC , is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We power the potential of companies in many of the world's largest and most critical industries, from energy and communications to transportation and electronics. Working side-by-side with our customers, we develop value-…
タイプ: Article
CHARLOTTE, N.C. , May 9, 2018 /PRNewswire/ --, First quarter 2018 highlights:, First quarter net sales were $821.6 million , an increase of 14% over the prior year; earnings were $131.8 million , or $1.18 per diluted share, an increase of 162% over the prior year First quarter adjusted EBITDA was $248.7 million , an increase of 18% over the prior year; adjusted diluted earnings per share of $1.30 , an increase of 24% over the prior year Received approval from CORFO to…, Three Months Ended, , March 31,, In thousands, except per share amounts, 2018, , 2017, Net sales $ 821,629 $ 722,063 Net income attributable to Albemarle Corporation $ 131,760 $ 51,213 Adjusted EBITDA $ 248,718 $ 211,376 Diluted earnings per share $ 1.18 $ 0.45 Non-operating pension and OPEB items (a) (0.02) (0.01) Non-recurring and other unusual items (a) 0.14 0.61 Adjusted diluted earnings per share (b) $ 1.30 $ 1.05 See…, Outlook, With a strong start to 2018, we confirm our guidance, with an increase to our adjusted EPS outlook, as follows: , 2018 Outlook, , vs Full Year 2017, Net sales $3.2 - $3.4 billion 4% - 11% Adjusted EBITDA $955 - $1,005 million 8% - 14% Adjusted EPS (per diluted share) $5.10 - $5.40 11% - 18%, Results, First quarter 2018 earnings were $131.8 million , or $1.18 per diluted share, compared to $51.2 million , or $0.45 per diluted share in the first quarter 2017. The increase in 2018 was primarily driven by earnings growth of our Lithium segment and a loss on early extinguishment of debt of $0.34 per diluted share recorded in 2017. First quarter 2018 adjusted EBITDA increased by $37.3 million , or…, Quarterly Segment Results, During the first quarter of 2018, the PCS product category merged with the Refining Solutions reportable segment to form a global business focused on catalysts. As a result, our three reportable segments include: (1) Lithium; (2) Bromine Specialties; and (3) Catalysts. For comparison purposes, prior year periods have been reclassified to conform to the current presentation. Lithium reported net…, Corporate Results, Corporate adjusted EBITDA was a charge of $24.0 million in the first quarter of 2018 compared to a charge of $31.9 million in the first quarter of 2017. The increase in Corporate adjusted EBITDA was primarily due to lower selling, general and administrative spend and $1.7 million of favorable currency exchange impacts., Income Taxes, In December 2017 , the Tax Cuts and Jobs Act ("TCJA") was enacted, requiring companies, among other things, to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred and reducing the U.S. federal corporate income tax rate from 35% to 21%. The SEC staff issued SAB 118, which will allow us to record provisional amounts during a measurement period…, Cash Flow, Our cash from operations was approximately $121.6 million for the three months ended March 31, 2018, an increase of $39.0 million versus the same period in 2017, primarily due to increased earnings in our Lithium segment and increased dividends received from unconsolidated investments. We had $692.2 million in cash and cash equivalents at March 31, 2018, as compared to $1.14 billion at December…, Earnings Call, The Company's performance for the first quarter ended March 31, 2018 will be discussed on a conference call at 9:00 AM Eastern time on May 10, 2018. The call can be accessed by dialing 888-268-4181 (International Dial-In # 617-597-5486), and entering conference ID 86509150. The Company's earnings presentation and supporting material can be accessed through Albemarle's website under Investors at, www.albemarle.com, ., About Albemarle, Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, NC , is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We power the potential of companies in many of the world's largest and most critical industries, from energy and communications to transportation and electronics. Working side-by-side with our customers, we develop value-…, Forward-Looking Statements, Some of the information presented in this press release, the conference call and discussions that follow, including, without limitation, product development, changes in productivity, market trends, price, expected growth, earnings and demand for our products, input costs, surcharges, tax rates, stock repurchases, dividends, cash flow generation, costs and cost synergies, portfolio diversification…, Three Months Ended, , March 31,, , 2018, , 2017, Net sales, $ 821,629 $ 722,063 Cost of goods sold 516,650 467,107 , Gross profit, 304,979 254,956 Selling, general and administrative expenses 101,370 108,928 Research and development expenses 20,986 24,323 , Operating profit, 182,623 121,705 Interest and financing expenses (13,538) (68,513) Other (expenses) income, net (30,476) 265 Income before income taxes and equity in net income of unconsolidated investments 138,609 53,457 Income tax expense 20,361 11,971 Income before equity in net income of unconsolidated investments 118,248 41,486 Equity in net income of unconsolidated…, March 31,, , December 31,, , 2018, , 2017, ASSETS, Cash and cash equivalents $ 692,188 $ 1,137,303 Other current assets 1,430,708 1,301,108 Assets held for sale 35,829 39,152 Total current assets 2,158,725 2,477,563 Property, plant and equipment 4,247,345 4,124,335 Less accumulated depreciation and amortization 1,678,139 1,631,025 Net property, plant and equipment 2,569,206 2,493,310 Noncurrent…, LIABILITIES AND EQUITY, Current portion of long-term debt $ 39,216 $ 422,012 Other current liabilities 827,471 776,975 Liabilities held for sale 2,173 1,938 Total current liabilities 868,860 1,200,925 Long-term debt 1,436,852 1,415,360 Noncurrent liabilities held for sale 682 614 Other noncurrent liabilities 937,401 945,788 Deferred income taxes 369,115 370,389 …, Three Months Ended, , March 31,, , 2018, , 2017, Cash and cash equivalents at beginning of year $ 1,137,303 $ 2,269,756 Cash and cash equivalents at end of period $ 692,188 $ 1,254,536 , Sources of cash and cash equivalents:, Net income $ 138,925 $ 62,657 Other borrowings, net — 66,384 Dividends received from unconsolidated investments and nonmarketable securities 25,462 2,551 Proceeds from exercise of stock options 646 2,170 , Uses of cash and cash equivalents:, Working capital changes (95,050) (63,325) Capital expenditures (131,815) (54,143) Acquisitions, net of cash acquired — (27,742) Repayments of long-term debt — (751,209) Repurchases of common stock — (250,000) Repayments of other borrowings, net (381,159) — Pension and postretirement contributions (3,548) (2,891) Dividends paid to shareholders (35,…, Non-cash and other items:, Depreciation and amortization 50,330 45,070 Gain on acquisition — (7,433) Pension and postretirement benefit (890) (26) Loss on early extinguishment of debt — 52,801 Deferred income taxes 29,067 1,363 Equity in net income of unconsolidated investments (net of tax) (20,677) (21,171) See accompanying notes to the condensed consolidated financial…, Additional Information, It should be noted that adjusted net income attributable to Albemarle Corporation , adjusted diluted earnings per share, non-operating pension and OPEB items per diluted share, non-recurring and other unusual items per diluted share, adjusted effective income tax rates, EBITDA, adjusted EBITDA, EBITDA margin and adjusted EBITDA margin are financial measures that are not required by, or presented…, www.albemarle.com ., The Company does not provide a reconciliation of forward looking non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP, as the Company is unable to estimate significant non-recurring or unusual items without unreasonable effort. The amounts and timing of these items are uncertain and could be material to the Company's…, Three Months Ended, , March 31,, , 2018, , 2017, Net sales:, Lithium $ 298,032 $ 216,229 Bromine Specialties 225,639 219,191 Catalysts 260,717 253,558 All Other 37,165 32,419 Corporate 76 666 Total net sales $ 821,629 $ 722,063 , Adjusted EBITDA:, Lithium $ 131,014 $ 99,852 Bromine Specialties 69,969 68,488 Catalysts 67,830 69,749 All Other 3,862 5,156 Corporate (23,957) (31,869) Total adjusted EBITDA $ 248,718 $ 211,376 See accompanying non-GAAP reconciliations below. , 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, the 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 earnings is defined as earnings before the non-recurring, other unusual…, Three Months Ended, , March 31,, In thousands, except percentages and per share amounts, 2018, , 2017, Net income attributable to Albemarle Corporation $ 131,760 $ 51,213 Add back: Non-operating pension and OPEB items (net of tax) (1,866) (810) Non-recurring and other unusual items (net of tax) 15,319 68,605 Adjusted net income attributable to Albemarle Corporation $ 145,213 $ 119,008 Adjusted diluted earnings per share $ 1.30 $ 1.05 Weighted-…, EBITDA, 215,989 176,767 Non-operating pension and OPEB items (2,197) (1,063) Non-recurring and other unusual items (excluding items associated with interest expense) 34,926 35,672 , Adjusted EBITDA, $ 248,718 $ 211,376 Net sales $ 821,629 $ 722,063 EBITDA margin 26.3 % 24.5 % Adjusted EBITDA margin 30.3 % 29.3 % See below for a reconciliation of adjusted EBITDA on a segment basis, the non-GAAP financial measure, to Net income attributable to Albemarle Corporation , the most directly comparable financial measure calculated and reporting in accordance with GAAP (in…, Lithium, , Bromine Specialties, , Catalysts, , Reportable Segments Total, , All Other, , Corporate, , Consolidated Total, , % of Net Sales, Three months ended March 31, 2018:, Net income (loss) attributable to Albemarle Corporation $ 108,334 $ 59,536 $ 55,660 $ 223,530 $ 1,760 $ (93,530) $ 131,760 16.0 % Depreciation and amortization 24,065 10,433 12,170 46,668 2,102 1,560 50,330 6.1 % Non-recurring and other unusual items (1,385) — — (1,385) — 36,311 34,926…, Adjusted EBITDA, $ 131,014 $ 69,969 $ 67,830 $ 268,813 $ 3,862 $ (23,957) $ 248,718 30.3 % , Three months ended March 31, 2017:, Net income (loss) attributable to Albemarle Corporation $ 77,614 $ 58,694 $ 56,966 $ 193,274 $ 3,246 $ (145,307) $ 51,213 7.1 % Depreciation and amortization 19,065 9,794 12,783 41,642 1,910 1,518 45,070 6.2 % Non-recurring and other unusual items (excluding items associated with interest expense) 3,173…, Adjusted EBITDA, $ 99,852 $ 68,488 $ 69,749 $ 238,089 $ 5,156 $ (31,869) $ 211,376 29.3 % Non-operating pension and OPEB items, consisting of MTM actuarial gains/losses, settlements/curtailments, interest cost and expected return on assets, are not allocated to our operating segments and are included in the Corporate category. In addition, we believe that these components of pension…, Three Months Ended, , March 31,, , 2018, , 2017, Interest cost $ 8,569 $ 8,873 Expected return on assets (10,766) (9,936) Total $ (2,197) $ (1,063) In addition to the non-operating pension and OPEB items disclosed above, we have identified certain other items and excluded them from our adjusted net income calculation for the periods presented. A listing of these items, as well as a detailed description of each follows below…, Three Months Ended, , March 31,, , 2018, , 2017, Utilization of inventory markup (1) $ — $ 0.08 Restructuring and other, net (2) — 0.09 Acquisition and integration related costs (3) 0.02 0.11 Legal accrual (4) 0.12 — Gain on acquisition (5) — (0.05) Loss on extinguishment of debt (6) — 0.34 Other (7) 0.11 0.03 Discrete tax items (8) (0.11) 0.01 Total non-recurring and other unusual items $ 0.14…, Three Months Ended, , March 31, 2017, Restructuring and other costs:, Cost of goods sold $ 2.9 Selling, general and administrative expenses 4.2 Research and development expenses 5.8 Total $ 12.9 Total restructuring and other costs, after income taxes $ 10.2 Total restructuring and other costs, per diluted share $ 0.09 (3) Acquisition and integration related costs for the three months ended March 31, 2018 and 2017 related to various significant…, Three Months Ended, , March 31,, , 2018, , 2017, Acquisition and integration related costs:, Cost of goods sold $ 1.0 $ 8.9 Selling, general and administrative expenses 1.2 5.4 Total $ 2.2 $ 14.3 Total acquisition and integration related costs, after income taxes $ 1.9 $ 12.8 Total acquisition and integration related costs, per diluted share $ 0.02 $ 0.11 (4) Included in Other (expenses) income, net, for the three months ended March 31, 2018 is a $17…, Income before income taxes and equity in net income of unconsolidated investments, , Income tax expense, , Effective income tax rate, Three months ended March 31, 2018:, As reported $ 138,609 $ 20,361 14.7% Non-recurring, other unusual and non-operating pension and OPEB items 32,729 19,276 As adjusted $ 171,338 $ 39,637 23.1% , Three months ended March 31, 2017:, As reported $ 53,457 $ 11,971 22.4% Non-recurring, other unusual and non-operating pension and OPEB items 87,410 19,615 As adjusted $ 140,867 $ 31,586 22.4% View original content with multimedia: http://www.prnewswire.com/news-releases/albemarle-continues-double-digit-growth-in-first-quarter-on-strong-lithium-results-300645727.html SOURCE Albemarle…
タイプ: Article
CHARLOTTE, N.C. , May 8, 2018 /PRNewswire/ -- The board of directors of, Albemarle Corporation, (NYSE: ALB) announces that it has declared a quarterly dividend of $0.335 per share. The dividend, which has an annualized rate of $1.34 , is payable July 2, 2018 , to shareholders of record at the close of business as of June 15, 2018 ., About Albemarle, Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, NC , is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We power the potential of companies in many of the world's largest and most critical industries, from energy and communications to transportation and electronics. Working side-by-side with our customers, we develop value-…
タイプ: Article
CHARLOTTE, N.C. , May 7, 2018 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that the company has been named to Corporate Responsibility Magazine's ( CR Magazine ) 19 th annual 100 Best Corporate Citizens List. The roster recognizes the standout environmental, social and governance (ESG) performance of public companies…, About Albemarle, Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, NC , is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We power the potential of companies in many of the world's largest and most critical industries, from energy and communications to transportation and electronics. Working side-by-side with our customers, we develop value-…, About the 100 Best Corporate Citizens List, The 100 Best Corporate Citizens List was first published in 1999 in Business Ethics Magazine , and has been managed by CR Magazine since 2007. To compile the list, every company in the Russell 1000, the highest ranked stocks in the Russell 3000 Index of publicly held U.S. companies, is ranked according to 260 data points. , About Corporate Responsibility Magazine, 3BL Media is the publisher of CR Magazine ( www.thecro.com ), the leading voice of the corporate responsibility profession and the publisher of the 100 Best Corporate Citizens ranking. Together with the Corporate Responsible Association , CR Magazine presents COMMIT!Forum , Oct. 23-25, 2018, at MGM National Harbor , just outside Washington , D.C. The theme is Brands Taking Stands – The Long…, About 3BL Media, 3BL Media is the world's leading communications partner for purpose-driven organizations. Through targeted content distribution, multimedia promotions and hands-on learning experiences, 3BL Media amplifies the stories, experiences and perspectives of companies, NGOs and nonprofits through an unrivaled network of corporate responsibility and sustainability professionals, influencers and…
タイプ: Article
CHARLOTTE, N.C. , April 24, 2018 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that it is the primary hydroprocessing catalyst manufacturer for the DuPont™ IsoTherming® hydroprocessing technology, making clean fuels production more cost efficient for refiners. IsoTherming® is an innovative hydroprocessing technology that…, About Albemarle, Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, NC , is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We power the potential of companies in many of the world's largest and most critical industries, from energy and communications to transportation and electronics. Working side-by-side with our customers, we develop value-…, About DuPont Clean Technologies, DuPont Clean Technologies applies real-world experience, history of innovation, problem-solving success and strong brands to help organizations operate safely and with the highest level of performance, reliability, energy efficiency and environmental integrity. The Clean Technologies portfolio includes STRATCO ® alkylation technology for production of clean, high-octane gasoline; IsoTherming ®…, About DowDuPont Specialty Products Division, DowDuPont Specialty Products, a division of DowDuPont (NYSE: DWDP), is a global innovation leader with highly differentiated materials, ingredients and capabilities that help transform industries and everyday life. DowDuPont Specialty Products includes five technology-driven businesses: Electronic Technologies, Industrial Biosciences, Nutrition & Health, Protective Solutions and Sustainable…
タイプ: Article
CHARLOTTE, N.C. , April 23, 2018 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that Scott Tozier , Albemarle Executive Vice President and Chief Financial Officer, and Eric Norris , Chief Strategy Officer, will participate in a Fireside Chat at the Goldman Sachs Basic Materials Conference in New York City on Tuesday, May 15…, About Albemarle, Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, NC , is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We power the potential of companies in many of the world's largest and most critical industries, from energy and communications to transportation and electronics. Working side-by-side with our customers, we develop value-…
タイプ: Article
CHARLOTTE, N.C. , May 6, 2021 /PRNewswire/ -- , Albemarle Corporation, (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that Kent Masters , Albemarle CEO, and Scott Tozier , Albemarle CFO, will participate in a virtual fireside chat at the Goldman Sachs Industrials and Materials Conference on May 12, 2021 , at 11:20 a.m. ET . The webcast and presentation materials will be accessible at the time of the event through the Events…, About Albemarle Corporation, Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, N.C. , is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We think beyond business-as-usual to power the potential of companies in many of the world's largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach…
タイプ: Article
CHARLOTTE, N.C. , May 5, 2021 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB) today announced its results for the first quarter ended March 31, 2021 . , First Quarter 2021 Highlights, (Unless otherwise stated, all percent changes are based on year-over-year comparisons) Net income of $95.7 million , or $0.84 per diluted share; Adjusted diluted EPS of $1.10 , an increase of 10% Net sales of $829.3 million , an increase of 12% Adjusted EBITDA of $230.1 million an increase of 17% Full year 2021 guidance unchanged Entered into a definitive agreement to sell the Fine Chemistry…, Outlook, Albemarle continues to expect its full year 2021 operating performance to improve modestly relative to full year 2020, assuming continued recovery from the global economic downturn. While the total company guidance has not changed, from a GBU perspective, the outlook for our Lithium business has improved and for our Catalysts business our expectations are lower, while the outlook for our Bromine…, FY 2021 Guidance, Net sales $3.2 - $3.3 billion Adjusted EBITDA $810 - $860 million Adjusted EBITDA Margin 25% - 26% Adjusted Diluted EPS $3.25 - $3.65 Net Cash from Operations $475 - $575 million Capital Expenditures $850 - $950 million, COVID-19 Response, Albemarle's cross-functional Global Response Team continues to meet regularly to address employee health and safety and operational challenges. Our priority is always the health and well-being of our employees, customers, and communities. Our focus has shifted from managing an immediate global crisis to building in the flexibility needed to adjust for regional differences and changing conditions…, First Quarter Results, In millions, except per share amounts, Q1 2021, Q1 2020, $ Change, % Change, Net sales $ 829.3 $ 738.8 $ 90.4 12.2 % Net income attributable to Albemarle Corporation $ 95.7 $ 107.2 $ (11.5) (10.8) % Adjusted EBITDA (a) $ 230.1 $ 196.4 $ 33.7 17.2 % Diluted earnings per share $ 0.84 $ 1.01 $ (0.17) (16.8) % Non-operating pension and OPEB items (a) (0.04) (0.02) Non-recurring and other unusual items (a) 0.29 0.01 Adjusted diluted earnings per share (b) $ 1.10 $ 1.00…, Business Segment Results, Lithium, In millions, Q1 2021, Q1 2020, $ Change, % Change, Net Sales $ 279.0 $ 236.8 $ 42.2 17.8 % Adjusted EBITDA $ 106.4 $ 78.6 $ 27.8 35.4 % Lithium net sales of $279.0 million increased $42.2 million primarily driven by higher volumes, as some customers accelerated orders under long-term agreements, offset by lower average pricing for carbonate and technical grade. Adjusted EBITDA of $106.4 million increased $27.8 million primarily due to increased…, Current Trends:, FY 2021 volumes are expected to be higher year-over-year due to North American plant restarts, productivity improvements, and tolling. Average realized pricing is expected to increase sequentially but remain flat compared to 2020. We expect higher costs related to project start-ups, partially offset by productivity improvements. , Bromine Specialties, In millions, Q1 2021, Q1 2020, $ Change, % Change, Net Sales $ 280.4 $ 231.6 $ 48.9 21.1 % Adjusted EBITDA $ 94.6 $ 83.3 $ 11.4 13.7 % Bromine net sales of $280.4 million increased $48.9 million driven by demand for products across the portfolio and a favorable customer mix. Adjusted EBITDA of $94.6 million increased $11.4 million due to increased net sales and was partially offset by a $6.4 million impact from the U.S. Gulf Coast winter storm.…, Current Trends:, We continue to expect FY 2021 results to be modestly higher than the previous year due to continued economic recovery and improvements in certain end markets, including electronics, and building and construction, along with on-going cost savings initiatives and pricing. The winter storm in the U.S. Gulf Coast during Q1 led to lost production at the Magnolia, Arkansas site, which is expected to…, Catalysts, In millions, Q1 2021, Q1 2020, $ Change, % Change, Net Sales $ 220.2 $ 207.2 $ 13.0 6.3 % Adjusted EBITDA $ 25.4 $ 47.5 $ (22.0) (46.4) % Catalysts net sales of $220.2 million increased $13.0 million owing to higher volumes compared to the previous year. Hydroprocessing Catalysts (HPC) volumes increased due to timing of shipments offset by lower Fluid Catalytic Cracking (FCC) volumes related to the impact of the winter storm on our customers'…, Current Trends:, We expect 2021 adjusted EBITDA to be lower year-over-year due to the impact of the winter storm, FCC order delays, product mix, and the previously disclosed change in order patterns from a large North American customer., All Other, In millions, Q1 2021, Q1 2020, $ Change, % Change, Net Sales $ 49.6 $ 63.2 $ (13.6) (21.5) % Adjusted EBITDA $ 21.5 $ 22.8 $ (1.3) (5.9) % Other operations represents our FCS business. FCS net sales of $49.6 million declined $13.6 million and adjusted EBITDA of $21.5 million declined $1.3 million . The FCS business tends to be contract driven and can vary quarter-to-quarter. On February 25, 2021 , we signed a definitive agreement to sell the FCS…, Balance Sheet and Liquidity, As of March 31, 2021 , Albemarle had estimated liquidity of approximately $2.2 billion , including $569.9 million of cash and equivalents, the full $1.0 billion available under our revolver, $500.0 million remaining under our delayed draw term loan and $131.2 million on other available credit lines. Total debt was $2.0 billion , representing net debt to adjusted EBITDA of approximately 1.7 times…, Cash Flow and Capital Deployment, Cash from operations for the three months ended March 31, 2021 , of $157.9 million increased $2.9 million versus the prior year as higher revenues in each of our reportable segments more than offset working capital outflows in 2021. Capital expenditures of $179.7 million decreased by approximately $35.0 million versus the prior year as the company nears completion of its Wave 2 Lithium expansion…, Earnings Call, Date: Thursday, May 6, 2021 Time: 9:00 AM Eastern time Dial-in ( U.S. ): 844-347-1034 Dial-in (International): 209-905-5910 Passcode: 9167449 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), headquartered in Charlotte, N.C. , is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We think beyond business-as-usual to power the potential of companies in many of the world's largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach…, Forward-Looking Statements, Some of the information presented in this press release, the conference call and discussions that follow, including, without limitation, information related to product development, production capacity, committed volumes, market trends, pricing, financial flexibility, expected growth, anticipated return on opportunities, earnings and demand for our products, input costs, productivity improvements…, Three Months Ended, March 31 ,, 2021, 2020, Net sales, $ 829,291 $ 738,845 Cost of goods sold 565,604 496,827, Gross profit, 263,687 242,018 Selling, general and administrative expenses 93,187 101,877 Research and development expenses 14,636 16,097, Operating profit, 155,864 124,044 Interest and financing expenses (43,882) (16,885) Other income, net 11,312 8,314 Income before income taxes and equity in net income of unconsolidated investments 123,294 115,473 Income tax expense 22,107 18,442 Income before equity in net income of unconsolidated investments 101,187 97,031 Equity in net income of unconsolidated investments (net of tax) 16,511 26,604 Net income…, March 31 ,, December 31 ,, 2021, 2020, ASSETS, Current assets: Cash and cash equivalents $ 569,859 $ 746,724 Trade accounts receivable 532,964 530,838 Other accounts receivable 60,558 61,958 Inventories 685,779 750,237 Other current assets 93,844 116,427 Assets held for sale 66,390 — Total current assets 2,009,394 2,206,184 Property, plant and equipment 7,433,593 7,427,641 Less accumulated depreciation and amortization 2,043,264 2,073,016…, LIABILITIES AND EQUITY, Current liabilities: Accounts payable $ 492,532 $ 483,221 Accrued expenses 378,973 440,763 Current portion of long-term debt 616 804,677 Dividends payable 45,327 40,937 Liabilities held for sale 4,068 — Income taxes payable 31,740 32,251 Total current liabilities 953,256 1,801,849 Long-term debt 2,030,032 2,767,381 Postretirement benefits 47,817 48,075 Pension benefits 316,652 340,818 Other…, Three Months Ended, March 31 ,, 2021, 2020, Cash and cash equivalents at beginning of year $ 746,724 $ 613,110 Cash flows from operating activities: Net income 117,698 123,635 Adjustments to reconcile net income to cash flows from operating activities: Depreciation and amortization 62,260 53,694 Stock-based compensation and other 2,560 2,501 Equity in net income of unconsolidated investments (net of tax) (16,511) (26,604) Dividends…, Three Months Ended, March 31 ,, 2021, 2020, Net sales:, Lithium $ 278,976 $ 236,818 Bromine Specialties 280,447 231,592 Catalysts 220,243 207,207 All Other 49,625 63,228 Total net sales $ 829,291 $ 738,845, Adjusted EBITDA:, Lithium $ 106,436 $ 78,637 Bromine Specialties 94,640 83,262 Catalysts 25,427 47,470 All Other 21,479 22,824 Corporate (17,928) (35,828) Total adjusted EBITDA $ 230,054 $ 196,365 See accompanying non-GAAP reconciliations below., Additional Information, It should be noted that adjusted net income attributable to Albemarle Corporation , adjusted diluted earnings per share, non-operating pension and OPEB items per diluted share, non-recurring and other unusual items per diluted share, adjusted effective income tax rates, EBITDA, adjusted EBITDA, EBITDA margin and adjusted EBITDA margin are financial measures that are not required by, or presented…, 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, the 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 earnings is defined as earnings before the non-recurring, other unusual…, Three Months Ended, March 31 ,, In thousands, except percentages and per share amounts, 2021, 2020, Net income attributable to Albemarle Corporation $ 95,677 $ 107,204 Add back: Non-operating pension and OPEB items (net of tax) (4,267) (2,311) Non-recurring and other unusual items (net of tax) 32,761 1,493 Adjusted net income attributable to Albemarle Corporation $ 124,171 $ 106,386 Adjusted diluted earnings per share $ 1.10 $ 1.00 Weighted-average common shares outstanding – diluted 113,330…, EBITDA, 223,926 196,225 Non-operating pension and OPEB items (5,465) (2,908) Non-recurring and other unusual items 11,593 3,048, Adjusted EBITDA, $ 230,054 $ 196,365 Net sales $ 829,291 $ 738,845 EBITDA margin 27.0 % 26.6 % Adjusted EBITDA margin 27.7 % 26.6 % See below for a reconciliation of adjusted EBITDA on a segment basis, the non-GAAP financial measure, to Net income attributable to Albemarle Corporation , the most directly comparable financial measure calculated and reported in accordance with GAAP (in thousands, except percentages…, Lithium, Bromine Specialties, Catalysts, Reportable Segments Total, All Other, Corporate, Consolidated Total, % of Net Sales, Three months ended March 31, 2021, Net income (loss) attributable to Albemarle Corporation $ 74,630 $ 82,113 $ 12,916 $ 169,659 $ 20,016 $ (93,998) $ 95,677 11.5 % Depreciation and amortization 31,806 12,527 12,511 56,844 1,463 3,953 62,260 7.5 % Non-recurring and other unusual items — — — — — 11,593 11,593 1.4 % Interest and financing expenses — — — — — 43,882 43,882 5.3 % Income tax expense — — — — — 22,107 22,107 2.7 % Non-…, Adjusted EBITDA, $ 106,436 $ 94,640 $ 25,427 $ 226,503 $ 21,479 $ (17,928) $ 230,054 27.7 %, Three months ended March 31, 2020, Net income (loss) attributable to Albemarle Corporation $ 53,240 $ 71,665 $ 34,892 $ 159,797 $ 20,846 $ (73,439) $ 107,204 14.5 % Depreciation and amortization 25,397 11,597 12,578 49,572 1,978 2,144 53,694 7.2 % Non-recurring and other unusual items — — — — — 3,048 3,048 0.4 % Interest and financing expenses — — — — — 16,885 16,885 2.3 % Income tax expense — — — — — 18,442 18,442 2.5 % Non-…, Adjusted EBITDA, $ 78,637 $ 83,262 $ 47,470 $ 209,369 $ 22,824 $ (35,828) $ 196,365 26.6 % 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 our operating segments and are included in the Corporate category. In addition, we believe that these components of pension cost are mainly…, Three Months Ended, March 31 ,, 2021, 2020, Interest cost $ 5,428 $ 7,155 Expected return on assets (10,893) (10,063) Total $ (5,465) $ (2,908) In addition to the non-operating pension and OPEB items disclosed above, we have identified certain other items and excluded them from our adjusted net income calculation for the periods presented. A listing of these items, as well as a detailed description of each follows below (per diluted share):, Three Months Ended, March 31 ,, 2021, 2020, Restructuring and other (1) $ — $ 0.01 Acquisition and integration related costs (2) 0.02 0.02 Loss on early extinguishment of debt (3) 0.20 — Other (4) 0.06 (0.01) Discrete tax items (5) 0.01 (0.01) Total non-recurring and other unusual items $ 0.29 $ 0.01 (1) In 2020, we recorded severance expenses as part of business reorganization plans, impacting each of our businesses and Corporate,…, Income before income taxes and equity in net income of unconsolidated investments, Income tax expense, Effective income tax rate, Three months ended March 31, 2021, As reported $ 123,294 $ 22,107 17.9 % Non-recurring, other unusual and non-operating pension and OPEB items 33,926 5,432 As adjusted $ 157,220 $ 27,539 17.5 %, Three months ended March 31, 2020, As reported $ 115,473 $ 18,442 16.0 % Non-recurring, other unusual and non-operating pension and OPEB items 461 958 As adjusted $ 115,934 $ 19,400 16.7 % View original content to download multimedia: http://www.prnewswire.com/news-releases/albemarle-reports-first-quarter-sales-growth-of-12-301284863.html SOURCE Albemarle Corporation Meredith Bandy, 980.999.5168
タイプ: Article
CHARLOTTE, N.C. , May 4, 2021 /PRNewswire/ -- The Board of Directors of, Albemarle Corporation, (NYSE: ALB) announces that it has declared a quarterly dividend of $0.39 per share. The dividend, which has an annualized rate of $1.56 , is payable July 1, 2021 , to shareholders of record at the close of business as of June 11, 2021 ., About Albemarle Corporation, Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, N.C. , is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We think beyond business-as-usual to power the potential of companies in many of the world's largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach…, 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…
タイプ: Article