اد Q2 2024 Earnings August 1, 2024 8:00am ET Forward-Looking Statements 2 This presentation, conference call and discussions that follow contain 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 uncer ...

[Table_Title] 研究报告 Research Report 1 Aug 2024 雅宝 (ALB US) [Table_summary] 收入好于预期；成本管理稳健 Scott Darling Axel Leven scott.darling@htisec.com axel.leven@htisec.com [Table_yemei1] 热点速评 Flash Analysis 事件 我们预计，市场将对 Albemarle 2024 年第二季度的业绩持积极态度，该公司公布的调整后净收入为 430 万美元，远 低于预期的 6300 万美元净收入，原因是锂价持续走低，成本不断上涨。该公司重申了其宽泛的 2024 财年指引， EBITDA 取决于全年的锂价（15-25 美元/公斤）。由于"物流成本上升"，该公司确实下调了特种产品部门调整后的 EBITDA 预期。该公司还将其资本支出指引的下限从 16-18 亿美元上调至 17-18 亿美元，并宣布继续其"资产和成本 行动"，其中包括对优化成本和运营结构的审查。 点评 收入好于预期：Albemarle 公布 2024 年第二季度收入为 14.3 亿美元，高于预 ...

For the quarter ended June 2024, Albemarle (ALB) reported revenue of $1.43 billion, down 39.7% over the same period last year. EPS came in at $0.04, compared to $7.33 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.4 billion, representing a surprise of +2.12%. The company delivered an EPS surprise of -92.45%, with the consensus EPS estimate being $0.53.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expe ...

Financial Performance - Net sales for Q2 2024 were $1,430,385, a decrease of 40% from $2,370,190 in Q2 2023, primarily due to lower lithium carbonate and hydroxide market pricing in Energy Storage[151]. - Total net sales decreased by 40% to $1,430,385 thousand in Q2 2024 from $2,370,190 thousand in Q2 2023[165]. - Year-to-date net sales for 2024 were $2,791,121 thousand, down 44% from $4,950,442 thousand in 2023, mainly due to lower lithium carbonate and hydroxide pricing[174]. - Net income attributable to Albemarle Corporation for YTD 2024 was $(185,750) thousand, a decrease of $(2,074,373) thousand or NM compared to YTD 2023[183]. - Energy Storage segment net sales dropped by 53% to $830,110 thousand, primarily due to unfavorable pricing impacts[169]. - Specialties segment net sales decreased by 10% to $334,600 thousand, reflecting a decline in demand[170]. - Ketjen segment net sales increased by 13% to $265,675 thousand, driven by higher sales volume across all divisions[171]. - Adjusted EBITDA fell by 69% to $386,360 thousand in Q2 2024 compared to $1,266,242 thousand in Q2 2023[165]. - Adjusted EBITDA for the Energy Storage segment fell by 82% to $480,975 thousand from $2,732,772 thousand in YTD 2023[188]. - Specialties segment net sales decreased by 18% to $650,665 thousand, with adjusted EBITDA down 55% to $99,356 thousand[188]. - Ketjen segment net sales increased by 12% to $509,448 thousand, with adjusted EBITDA rising by 4% to $59,815 thousand[190]. Cash Flow and Liquidity - The company recorded a cash flow from operations of $362.9 million during Q2 2024, an increase of 392% from the prior year quarter[142]. - Cash provided by operations in the first six months of 2024 was $460.8 million, down from $794.7 million in the same period of 2023[194]. - Cash and cash equivalents increased by $940.3 million to $1.8 billion at June 30, 2024, compared to $889.9 million at December 31, 2023[194]. - The company anticipates that cash on hand and cash from operations will be sufficient to meet operating expenses and fund capital expenditures for the foreseeable future[193]. - Cash and cash equivalents totaled $1.8 billion at June 30, 2024, with $1.1 billion held by foreign subsidiaries[229]. - The company repaid a net amount of $620.0 million of commercial paper notes during the six months ended June 30, 2024, using proceeds from the issuance of mandatory convertible preferred stock[209]. Expenses and Cost Management - Selling, general and administrative expenses decreased by $228,122 thousand or (57)% to $168,948 thousand in Q2 2024, with a percentage of net sales at 11.8% compared to 16.8% in Q2 2023[153]. - Selling, general and administrative expenses decreased by 37% to $346,660 thousand year-to-date 2024, partly due to a prior legal accrual in 2023[176]. - Research and development expenses were $20,770 thousand in Q2 2024, a decrease of $649 thousand or (3)% from Q2 2023[155]. - Research and development expenses increased by 6% to $44,302 thousand year-to-date 2024, representing 1.6% of net sales[178]. - The company is taking proactive actions to optimize its cost structure and strengthen financial flexibility, including suspending construction of certain projects[148]. - Capital project assets write-off amounted to $292,315 thousand in Q2 2024, reflecting the suspension of certain projects[154]. Investments and Capital Expenditures - Capital expenditures for the six-month period ended June 30, 2024, were $1.0 billion, with expectations to reach $1.7 billion to $1.8 billion in 2024, primarily for Energy Storage growth and capacity increases[195]. - The company plans to invest in a battery-grade lithium conversion plant in Meishan, targeting 50,000 metric tonnes of LCE per year, with first commercial sales achieved in Q2 2024[223]. - The company received a nearly $150 million grant from the U.S. Department of Energy to support the construction of a lithium concentrator facility in North Carolina, expected to produce approximately 420,000 tons of spodumene concentrate annually[224]. Debt and Financial Position - The non-current portion of long-term debt was $3.52 billion at June 30, 2024, compared to $3.54 billion at December 31, 2023[212]. - Long-term debt remained stable at approximately $2.25 billion as of June 30, 2024[238]. - Current liabilities decreased to $1.72 billion as of June 30, 2024, from $2.37 billion at the end of 2023[238]. - Current assets increased to $1.4 billion as of June 30, 2024, from $872.6 million as of December 31, 2023[250]. - The liability for uncertain tax positions increased to $226.3 million as of June 30, 2024, from $220.6 million at the end of 2023[216]. Other Financial Metrics - Gross loss profit for Q2 2024 was $(10,578) thousand, a decrease of $569,065 thousand or (102)% compared to Q2 2023[152]. - Other income, net decreased by $20,288 thousand or (38)% to $33,666 thousand in Q2 2024, impacted by losses related to equity securities[157]. - Other comprehensive loss, net of tax was $(40,134) thousand in Q2 2024, an increase of $35,525 thousand or 771% compared to Q2 2023, driven by unfavorable foreign currency translation[161]. - Other comprehensive loss for YTD 2024 was $(109,014) thousand, a change of $(151,722) thousand from a gain of $42,708 thousand in YTD 2023[184]. - Interest and financing expenses increased by $9,610 thousand or 38% to $(35,187) thousand in Q2 2024 due to lower capitalized interest and increased amortization of debt discounts[156]. - The company realized a loss of $33.7 million from the sale of equity securities of a public company for proceeds of approximately $81.5 million in the six months ended June 30, 2024[196].

Exhibit 99.1 Contact: Meredith Bandy 1.980.999.5168 Albemarle Reports Second Quarter 2024 Results CHARLOTTE, N.C. – July 31, 2024 - Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced its results for the second quarter ended June 30, 2024. Second-Quarter 2024 and Recent Highlights (Unless otherwise stated, all percentage changes represent year-over-year comparisons) "Our operational mindset continued to serve us we ...

Actions include immediate footprint changes to its Kemerton site in Australia, as well as a full review of cost and operating structureCHARLOTTE, N.C., July 31, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced it has launched a comprehensive review of its cost and operating structure, as well as immediate asset actions at its Kemerton lithium processing site in Australia. The company is taki ...

CHARLOTTE, N.C., July 31, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced its results for the second quarter ended June 30, 2024.Second-Quarter 2024 and Recent Highlights(Unless otherwise stated, all percentage changes represent year-over-year comparisons)Net sales of $1.4 billion, as lower pricing year-over-year was partly offset by Energy Storage volume growth of 37% as new capacity addit ...

As the world accelerates its transition towards renewable energy, battery stocks remain at the forefront of this global shift. Heading into the summer of 2024, the demand for high-performance, sustainable battery solutions is more critical than ever.As per McKinsey & Company, the lithium-ion battery market is expected to grow to more than $400 billion by 2030. This demand is expected to be driven by a regulatory push towards sustainability and an uptick in consumer demand for electric vehicles.This increasi ...

Investors in Albemarle Corporation (ALB) need to pay close attention to the stock based on moves in the options market lately. That is because the Sep 20, 2024 $65.00 Call had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could ...

Wall Street analysts expect Albemarle (ALB) to post quarterly earnings of $0.53 per share in its upcoming report, which indicates a year-over-year decline of 92.8%. Revenues are expected to be $1.4 billion, down 40.9% from the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 17% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company announces its ea ...