• CHARLOTTE, N.C. , Nov. 3, 2021 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB) today announced its results for the third quarter ended September 30, 2021 .    , Third-Quarter 2021 Highlights, (Unless otherwise stated, all percent changes are based on year-over-year comparisons) Net sales of $830.6 million , an increase of 11%; Net sales increased 19% excluding FCS Net loss of ($392.8) million , or ( $3.36 ) per diluted share Adjusted diluted EPS of $1.05 , a decrease of 4%, excludes a $4.29 per share charge for a recent arbitration decision Adjusted EBITDA of $217.6 million , an…, Outlook, Albemarle's improved outlook for full-year 2021 reflects a strong third-quarter performance and assumes continued global economic recovery as well as a modest improvement in operating performance compared to full-year 2020. Full-year 2021 net sales guidance was revised higher which reflects higher volumes in its Lithium business and stronger pricing in its Bromine businesses. Adjusted EBITDA…, FY 2021 Guidance (1), Net sales $3.3 - $3.4 billion Adjusted EBITDA $830 - $860 million Adjusted EBITDA Margin ~25% Adjusted Diluted EPS $3.85 - $4.15 Net Cash from Operations $550 - $650 million Capital Expenditures $925 - $975 million (1) Guidance reflects the sale of Albemarle's Fine Chemistry Services (FCS) business to W.R. Grace which closed on June 1, 2021 ., COVID-19 Response, Albemarle's cross-functional Global Response Team continues to meet regularly to address employee health and safety and operational challenges. The company's priority is always the health and well-being of its employees, customers, and communities. The company continues to focus on building in the flexibility needed to adjust for regional differences and changing conditions., Third-Quarter Results, In millions, except per share amounts, Q3 2021, Q3 2020, $ Change, % Change, Net sales $ 830.6 $ 746.9 $ 83.7 11.2 % Net (loss) income attributable to Albemarle Corporation $ (392.8) $ 98.3 $ (491.1) (499.6) % Adjusted EBITDA (a) $ 217.6 $ 216.1 $ 1.5 0.7 % Diluted earnings per share $ (3.36) $ 0.92 $ (4.28) (465.2) %    Non-operating pension and OPEB items (a) (0.04) (0.02)    Non-recurring and other unusual items (a) 4.42 0.19 Adjusted diluted earnings per share (a)(b…, Business Segment Results, Lithium, In millions, Q3 2021, Q3 2020, $ Change, % Change, Net Sales $ 359.2 $ 265.6 $ 93.6 35.2 % Adjusted EBITDA $ 125.4 $ 97.8 $ 27.6 28.3 % Lithium net sales of $359.2 million increased $93.6 million (+35%) primarily due to higher volume (+30%) from tolling to help meet growing customer demand and higher pricing and FX (+5%). Adjusted EBITDA of $125.4 million increased $27.6 million primarily due to increased net sales and higher volume at its…, Current Trends:,  Full-year 2021 adjusted EBITDA is expected to grow in the mid- to high-teens year over year, up from previous guidance. Volume growth for full-year 2021 is expected to grow in the mid-teens driven primarily by tolling. Average realized pricing is expected to increase sequentially due to tightening market conditions and full-year pricing will be flat to slightly higher compared to 2020. Full-year…, Bromine Specialties, In millions, Q3 2021, Q3 2020, $ Change, % Change, Net Sales $ 277.8 $ 237.2 $ 40.6 17.1 % Adjusted EBITDA $ 86.0 $ 79.4 $ 6.6 8.3 % Bromine net sales of $277.8 million increased $40.6 million (+17%) owing to strong pricing and FX (+17%) while volume remained flat (0%). Pricing was driven by high demand across the product portfolio and tight market conditions. Adjusted EBITDA of $86.0 million increased $6.6 million due to higher net sales,…, Current Trends:,  The company expects full-year 2021 adjusted EBITDA growth in the low-double digits, up from previous guidance due to strength in demand for flame retardants, as well as benefiting from diverse end markets. Volumes will remain constrained during the remainder of the year due to sold-out conditions and the lack of inventory. Bromine's ongoing cost savings initiatives and higher pricing are…, Catalysts, In millions, Q3 2021, Q3 2020, $ Change, % Change, Net Sales $ 193.6 $ 197.9 $ (4.4) (2.2) % Adjusted EBITDA $ 33.1 $ 37.8 $ (4.7) (12.5) % Catalysts net sales of $193.6 million decreased $4.4 million (-2%) compared to the previous year, primarily due to slightly lower volume (-1%) and pricing and FX (-1%). Adjusted EBITDA of $33.1 million declined $4.7 million mostly due to lower sales and cost pressures, partially offset by higher-than-expected…, Current Trends:,   The company revised its expectations for full-year 2021 adjusted EBITDA to decline between 20% and 25%, an improvement from previous guidance, owing to higher-than-expected joint venture income. The year-over-year decline in adjusted EBITDA is primarily due to the impact of the U.S. Gulf Coast winter storm, product mix, and the previously disclosed change in a customer's order patterns during…, All Other, In millions, Q3 2021, Q3 2020, $ Change, % Change, Net Sales $ — $ 46.1 $ (46.1) (100.0) % Adjusted EBITDA $ — $ 25.0 $ (25.0) (100.0) % Other operations represent the FCS business which was sold on June 1, 2021 ., Balance Sheet and Liquidity, As of September 30, 2021 , Albemarle had estimated liquidity of approximately $2.0 billion , including $595.0 million of cash and equivalents, the full $1.0 billion available under the company's revolver, $270.0 million remaining under its delayed draw term loan and $131.5 million on other available credit lines. Total debt was $2.0 billion , representing net debt to adjusted EBITDA of…, Cash Flow and Capital Deployment, Cash from operations for the nine months ended September 30, 2021 , of $490.6 million increased $28.9 million versus the prior year driven by working capital inflows and higher revenues in the company's Lithium and Bromine segments. Capital expenditures of $652.7 million increased by $31.4 million versus the prior year as the company nears completion of its Wave 2 Lithium expansion projects.…, Earnings Call, Date: Thursday, November 4, 2021 Time: 9:00 AM Eastern time Dial-in ( U.S. ): 844-347-1034 Dial-in (International): 209-905-5910 Passcode: 6875708 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 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 to managing our diverse global…, 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 the timing of active and proposed projects, product development, production capacity, committed volumes, market trends, pricing, financial flexibility, expected growth, anticipated return on opportunities, earnings and demand for our…, Three Months Ended, Nine Months Ended, September 30 ,, September 30 ,, 2021, 2020, 2021, 2020, Net sales, $ 830,566 $ 746,868 $ 2,433,753 $ 2,249,762 Cost of goods sold 581,293 492,812 1,672,376 1,520,329, Gross profit, 249,273 254,056 761,377 729,433 Selling, general and administrative expenses 103,477 96,092 318,180 304,918 Research and development expenses 13,289 13,532 41,901 43,839 Gain on sale of business 984 — (428,424) —, Operating profit, 131,523 144,432 829,720 380,676 Interest and financing expenses (5,136) (19,227) (56,170) (53,964) Other expense, net (643,196) (3,661) (631,870) (1,620) (Loss) income before income taxes and equity in net income of unconsolidated investments (516,809) 121,544 141,680 325,092 Income tax (benefit) expense (114,670) 30,653 14,422 64,526 (Loss) income before equity in net income of unconsolidated…, September 30 ,, December 31 ,, 2021, 2020, ASSETS, Current assets: Cash and cash equivalents $ 595,049 $ 746,724 Trade accounts receivable 520,746 530,838 Other accounts receivable 56,298 61,958 Inventories 745,598 750,237 Other current assets 160,415 116,427 Total current assets 2,078,106 2,206,184 Property, plant and equipment 7,783,962 7,427,641 Less accumulated depreciation and amortization 2,128,485 2,073,016 Net property, plant and…, LIABILITIES AND EQUITY, Current liabilities: Accounts payable $ 545,922 $ 483,221 Accrued expenses 956,506 440,763 Current portion of long-term debt 611 804,677 Dividends payable 45,450 40,937 Income taxes payable 42,553 32,251 Total current liabilities 1,591,042 1,801,849 Long-term debt 2,021,487 2,767,381 Postretirement benefits 47,020 48,075 Pension benefits 299,875 340,818 Other noncurrent liabilities 617,488 629,…, Nine Months Ended, September 30 ,, 2021, 2020, Cash and cash equivalents at beginning of year $ 746,724 $ 613,110 Cash flows from operating activities: Net income 189,473 344,438 Adjustments to reconcile net income to cash flows from operating activities: Depreciation and amortization 185,765 170,214 Gain on sale of business (428,424) — Stock-based compensation and other 14,668 15,864 Equity in net income of unconsolidated investments (net of…, Three Months Ended, Nine Months Ended, September 30 ,, September 30 ,, 2021, 2020, 2021, 2020, Net sales:, Lithium $ 359,229 $ 265,646 $ 958,539 $ 786,186 Bromine Specialties 277,783 237,193 837,978 701,564 Catalysts 193,554 197,919 562,141 602,179 All Other — 46,110 75,095 159,833 Total net sales $ 830,566 $ 746,868 $ 2,433,753 $ 2,249,762, Adjusted EBITDA:, Lithium $ 125,416 $ 97,789 $ 341,293 $ 270,962 Bromine Specialties 86,012 79,448 273,298 235,751 Catalysts 33,103 37,834 79,694 108,081 All Other — 24,985 29,858 66,407 Corporate (26,962) (24,001) (81,892) (83,588) Total adjusted EBITDA $ 217,569 $ 216,055 $ 642,251 $ 597,613 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, Nine Months Ended, September 30 ,, September 30 ,, In thousands, except percentages and per share amounts, 2021, 2020, 2021, 2020, Net (loss) income attributable to Albemarle Corporation $ (392,781) $ 98,301 $ 127,496 $ 291,129 Add back: Non-operating pension and OPEB items (net of tax) (4,271) (2,294) (12,811) (6,904) Non-recurring and other unusual items (net of tax) 520,392 20,278 237,157 29,678 Adjusted net income attributable to Albemarle Corporation $ 123,340 $ 116,285 $ 351,842 $ 313,903 Adjusted diluted earnings per…, EBITDA, (440,233) 206,860 383,853 579,833 Non-operating pension and OPEB items (5,471) (2,901) (16,407) (8,704) Non-recurring and other unusual items (excluding items associated with interest expense) 663,273 12,096 274,805 26,484, Adjusted EBITDA, $ 217,569 $ 216,055 $ 642,251 $ 597,613 Net sales $ 830,566 $ 746,868 $ 2,433,753 $ 2,249,762 EBITDA margin (53.0) % 27.7 % 15.8 % 25.8 % Adjusted EBITDA margin 26.2 % 28.9 % 26.4 % 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…, Lithium, Bromine Specialties, Catalysts, Reportable Segments Total, All Other, Corporate, Consolidated Total, % of Net Sales, Three months ended September 30, 2021, Net income (loss) attributable to Albemarle Corporation $ 92,449 $ 73,409 $ 20,039 $ 185,897 $ — $ (578,678) $ (392,781) (47.3) % Depreciation and amortization 34,256 12,603 13,064 59,923 — 2,159 62,082 7.5 % Non-recurring and other unusual items (1,289) — — (1,289) — 664,562 663,273 79.9 % Interest and financing expenses — — — — — 5,136 5,136 0.6 % Income tax expense — — — — — (114,670) (114,670…, Adjusted EBITDA, $ 125,416 $ 86,012 $ 33,103 $ 244,531 $ — $ (26,962) $ 217,569 26.2 %, Three months ended September 30, 2020, Net income (loss) attributable to Albemarle Corporation $ 69,102 $ 66,548 $ 25,176 $ 160,826 $ 22,798 $ (85,323) $ 98,301 13.2 % Depreciation and amortization 28,687 12,900 12,658 54,245 2,187 2,247 58,679 7.9 % Non-recurring and other unusual items — — — — — 12,096 12,096 1.6 % Interest and financing expenses — — — — — 19,227 19,227 2.6 % Income tax expense — — — — — 30,653 30,653 4.1 % Non-…, Adjusted EBITDA, $ 97,789 $ 79,448 $ 37,834 $ 215,071 $ 24,985 $ (24,001) $ 216,055 28.9 %, Nine months ended September 30, 2021, Net income (loss) attributable to Albemarle Corporation $ 237,293 $ 235,670 $ 41,401 $ 514,364 $ 27,988 $ (414,856) $ 127,496 5.2 % Depreciation and amortization 99,559 37,628 38,293 175,480 1,870 8,415 185,765 7.6 % Non-recurring and other unusual items (excluding items associated with interest expense) 4,441 — — 4,441 — 270,364 274,805 11.3 % Interest and financing expenses — — — — — 56,170 56,…, Adjusted EBITDA, $ 341,293 $ 273,298 $ 79,694 $ 694,285 $ 29,858 $ (81,892) $ 642,251 26.4 %, Nine months ended September 30, 2020, Net income (loss) attributable to Albemarle Corporation $ 188,380 $ 198,905 $ 70,770 $ 458,055 $ 60,069 $ (226,995) $ 291,129 12.9 % Depreciation and amortization 82,582 36,846 37,311 156,739 6,338 7,137 170,214 7.6 % Non-recurring and other unusual items — — — — — 26,484 26,484 1.2 % Interest and financing expenses — — — — — 53,964 53,964 2.4 % Income tax expense — — — — — 64,526 64,526 2.9 %…, Adjusted EBITDA, $ 270,962 $ 235,751 $ 108,081 $ 614,794 $ 66,407 $ (83,588) $ 597,613 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 Albemarle's operating segments and are included in the Corporate category. In addition, the company believes that these components of…, Three Months Ended, Nine Months Ended, September 30 ,, September 30 ,, 2021, 2020, 2021, 2020, Interest cost $ 5,422 $ 7,164 $ 16,280 $ 21,452 Expected return on assets (10,893) (10,065) (32,687) (30,156) Total $ (5,471) $ (2,901) $ (16,407) $ (8,704) 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…, Three Months Ended, Nine Months Ended, September 30 ,, September 30 ,, 2021, 2020, 2021, 2020, Restructuring and other (1) $ — $ 0.02 $ 0.01 $ 0.08 Acquisition and integration related costs (2) 0.01 0.04 0.04 0.10 Albemarle Foundation contribution (3) — — 0.13 — Gain on sale of business (4) 0.01 — (2.85) — Loss on early extinguishment of debt (5) — — 0.21 — Legal accrual (6) 4.29 — 4.34 — Other (7) 0.02 0.02 0.11 0.01 Discrete tax items (8) 0.09 0.11 0.05 0.09 Total non-recurring and other…, Income before income taxes and equity in net income of unconsolidated investments, Income tax expense, Effective income tax rate, Three months ended September 30, 2021, As reported $ (516,809) $ (114,670) 22.2 % Non-recurring, other unusual and non-operating pension and OPEB items 657,802 141,681 As adjusted $ 140,993 $ 27,011 19.2 %, Three months ended September 30, 2020, As reported $ 121,544 $ 30,653 25.2 % Non-recurring, other unusual and non-operating pension and OPEB items 9,195 (8,789) As adjusted $ 130,739 $ 21,864 16.7 %, Nine months ended September 30, 2021, As reported $ 141,680 $ 14,422 10.2 % Non-recurring, other unusual and non-operating pension and OPEB items 287,345 62,999 As adjusted $ 429,025 $ 77,421 18.0 %, Nine months ended September 30, 2020, As reported $ 325,092 $ 64,526 19.8 % Non-recurring, other unusual and non-operating pension and OPEB items 18,101 (4,994) As adjusted $ 343,193 $ 59,532 17.4 %   View original content to download multimedia: https://www.prnewswire.com/news-releases/albemarle-reports-third-quarter-sales-growth-of-11-and-increases-guidance-301415725.html SOURCE Albemarle Corporation David Burke, 980.299.5533
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  • CHARLOTTE, N.C. , Oct. 29, 2021 /PRNewswire/ -- , Albemarle Corporation, (NYSE: ALB) today issued a response to a recent arbitration decision on a dispute between Huntsman Corporation and Rockwood Holdings, Inc. related to Huntsman's acquisition of Rockwood's Pigments & Additives business.     The Huntsman-Rockwood dispute stems from a transaction between Huntsman Corporation and Rockwood Holdings, Inc. which was signed in 2013 and closed in 2014 before Albemarle…, About Albemarle Corporation, Albemarle Corporation (NYSE: ALB) 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 to managing our diverse global…, Forward-Looking Statements, Some of the information presented in this press release, including statements regarding our intentions with respect to any litigation or arbitration and pursuit of any remedies 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. Forward-looking statements…
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  • CHARLOTTE, N.C. , Oct. 28, 2021 /PRNewswire/ -- , Albemarle Corporation, (NYSE: ALB), a leader in the global specialty chemicals industry, today announced that EcoVadis , a global sustainability ratings provider, has awarded Albemarle gold-medal status for its sustainability commitment and results. The award marks six consecutive years of gold status for Albemarle. The rating places the company in the top five percent of more than 75,000 global companies assessed by…, About Albemarle Corporation, Albemarle Corporation (NYSE: ALB) 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 to managing our diverse global…
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  • CHARLOTTE, N.C. , Oct. 27, 2021 /PRNewswire/ -- , Albemarle Corporation, (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that Eric Norris , Albemarle President, Lithium, and Glen Merfeld , Albemarle Chief Technology Officer, Lithium, will participate in a virtual fireside chat hosted by Oppenheimer & Co. Inc. on Nov. 8, 2021 , at 11:00 a.m. ET .     The presentation materials will be accessible at the time of the event through the…, About Albemarle, Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine and 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 to managing our diverse global footprint of…
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  • CHARLOTTE, N.C. , Oct. 25, 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 Jan. 3, 2022 , to shareholders of record at the close of business as of Dec. 17, 2021 ., About Albemarle Corporation, Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine and 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 to managing our diverse global footprint of…, 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…
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  • CHARLOTTE, N.C. , Oct. 22, 2021 /PRNewswire/ --, Albemarle Corporation, (NYSE: ALB), a leader in the global specialty chemicals industry, today announced its intent for strategic investments in China in support of the expansion of its lithium conversion capacity. The company recently signed investment agreements with the Yangtze River International Chemical Industrial Park in the Zhangjiagang Free Trade Zone ( Jiangsu province), and the Pengshan Economic Development…, About Albemarle, Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine and 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 to managing our diverse global footprint of…, Forward-Looking Statements, Some of the information presented in this press release, including, without limitation, information related to expected capacity expansion, plans and anticipated benefits in relation to the capacity expansion, the targeted construction and completion dates for the capacity expansion and all other information relating to matters that are not historical facts may constitute forward-looking…
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  • CHARLOTTE, N.C. , Oct. 19, 2021 /PRNewswire/ -- , Albemarle Corporation, (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that the Albemarle Foundation has released its first-ever annual Community Impact Report. The report offers insight into the Foundation's programs, distributions, and success stories in communities from around the world.       "In this Community Impact Report, we showcase remarkable efforts of our employees,…, About Albemarle, Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine, and 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 to managing our diverse global footprint of…
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  • CHARLOTTE, N.C. , Sept. 30, 2021 /PRNewswire/ -- , Albemarle Corporation, (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that its subsidiary, Albemarle Lithium UK Limited , has signed a definitive agreement to acquire all of the outstanding equity of Guangxi Tianyuan New Energy Materials Co., Ltd. ("Tianyuan"), a lithium converter located in Guangxi, China . Under terms of the agreement, Albemarle will acquire all outstanding equity…, About Albemarle, Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine and 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 to managing our diverse global footprint of…, Forward-Looking Statements, Some of the information presented in this press release, including, without limitation, information related to the transaction, plans and anticipated benefits in relation to the transaction, the targeted close date for the transaction and all other information relating to matters that are not historical facts may constitute forward-looking statements within the meaning of the Private Securities…
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  • CHARLOTTE, N.C. , Sept. 21, 2021 /PRNewswire/ --, Albemarle Corporation, (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that it will release its third-quarter 2021 earnings after the NYSE closes on Wednesday, Nov. 3, 2021 .     The company will hold its conference call to discuss third-quarter 2021 results on, Thursday, Nov. 4 , at 9:00 a.m. ET ., This call will be webcast and can be accessed through Albemarle Corporation's website at https://investors.albemarle.com/ , via the webcast link below or by phone at the following number: US Toll free: +1 844 347 1034 International direct: +1 209 905 5910 Passcode: 6875708 Webcast: Q3 Webcast Link To avoid registration wait times, participants are encouraged to use the webcast link as the primary…, About Albemarle Corporation, Albemarle Corporation (NYSE: ALB) 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 to managing our diverse global…
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  • CHARLOTTE, N.C. , Sept. 10, 2021 /PRNewswire/ -- , Albemarle Corporation,  (NYSE: ALB), a leader in the global specialty chemicals industry, will host its 2021 Investor Day event today at 8:30 a.m. ET . The event will be held virtually and by webcast to ensure the safety of all participants.      Chairman and CEO Kent Masters will be joined by EVP and CFO Scott Tozier , the presidents of Albemarle's three global businesses, and additional executives to discuss the…, Key Themes for 2021 Investor Day, Advancing industry-leading businesses with differentiated competitive advantages Executing a clear strategy to accelerate growth and sustainability Implementing a focused operating model – the Albemarle Way of Excellence – to ensure execution is aligned with strategy to create long-term value Building battery grade lithium conversion capacity to meet significant growth in customer demand while…, Our Operating Model – The Albemarle Way of Excellence (AWE), Albemarle's model includes four operating pillars – Sustainable Approach, High-Performance Culture, Operational Discipline, and Competitive Capabilities. These key competency areas are critical to achieving the company's performance priorities of raising the bar on excellence, delivering outstanding customer experience, and driving greater stakeholder value. " The Albemarle Way of Excellence is…, Outlook, Albemarle is reaffirming its full-year 2021 guidance and introducing new full-year 2022 outlook and 2026 long-term financial targets. The company continues to expect a modest improvement in full-year 2021 operating performance compared to full year 2020, assuming continued global economic recovery.  Full-year 2022 adjusted EBITDA is expected to be up 25% to 35% versus 2021 primarily due to higher…, Introducing 2026 Long-term Financial Targets, In millions, except per share amounts Lithium Bromine Catalysts Total 1 Net Sales (5-Year CAGR) 24% - 28% 5% - 6% 6% - 8% 13% - 17% Adj. EBITDA Margin (2026E) 43% - 47% 32% - 36% 26% - 28% 35% - 40% Adj. EBITDA (2026E) $1.7B - $1.9B $0.4B - $0.5B $0.2B - $0.3B $2.2B - $2.6B Free Cash Flow (2026E) $0.8B - $1.2B 1 Total includes corporate costs not allocated to Albemarle's operating segments, Assumptions for 2026 Long-term Financial Targets                 , $100M run-rate productivity savings by 2024 20% effective tax rate Currency flat at January 2021 rate No material economic or pricing cycle disruptions, Event Webcast Details, The company will webcast its Investor Day live which can be accessed through Albemarle Corporation's website at https://investors.albemarle.com/ , via the Investor Day website link below or by phone at the following number: US Toll free:                         (877) 323-4320 International direct:              (873) 415-0279 Passcode:                             2549693 Webcast…, About Albemarle, Albemarle Corporation (NYSE: ALB) 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 to managing our diverse global…, 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 the timing of active and proposed projects, product development, production capacity, committed volumes, market trends, pricing, financial flexibility, expected growth, anticipated return on opportunities, earnings and demand for our…
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