One of the leading lithium producers, Albemarle, might be signaling some stability is finally settling in.This story has been told before (by me, at numerous points in 2023), but it appears that one of the leading producers of lithium, Albemarle (ALB -2.94%), is signaling that the worst might finally be over.After a massive run-up in 2022 for the price of the commodity -- a key ingredient in electric vehicle (EV) lithium ion batteries -- lithium's market price proceeded to tank last year due to excess suppl ...

Electric vehicle sales are expected to hit an all-time high this year. In fact, according to Inside Climate News, EV adoption is accelerating quicker than expected. Government subsidies and mandates in the U.S., China and Europe are already helping. All of which could fuel further upside for undervalued EV stocks.China, for example, already hit its 2025 targets earlier than expected. Around 37% of all new cars sold in that country were electric, according to analysts at Raymond James. This year, that number ...

Part of proceeds from agreement to support investment in local communities  CHARLOTTE, N.C., May 8, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, announced an innovative agreement with Martin Marietta Materials, Inc. (NYSE: MLM) a leading supplier of building materials — including aggregate, cement, ready mixed concrete and asphalt — to make beneficial use of extracted limestone material from Albemarle ...

With the fallout in the electric vehicle sector, talking about the best lithium stocks to buy might seem premature. Nevertheless, lithium is more than just EVs.To be sure, the EV sector represents a major consumer of the critical metal. However, myriad other industries also utilize the commodity. They include consumer electronics, medical devices, aerospace and industrial applications, to name but a few. So, over the long run, lithium should make a recovery.Factor in the possible recovery of the EV ecosyste ...

Albemarle Corporation (NYSE:ALB) Q1 2024 Results Conference Call May 2, 2024 9:00 AM ET Company Participants Meredith Bandy - Vice President, Investor Relations and Sustainability Kent Masters - Chief Executive Officer Neal Sheorey - Chief Financial Officer Netha Johnson - President, Specialties Eric Norris - President, Energy Storage Conference Call Participants Aleksey Yefremov - KeyBanc Capital Arun Viswanathan - RBC Capital David Deckelbaum - TD Cowen Rob Hoffman - Bank of America Andres Castanos - Bere ...

Albemarle Corporation (ALB) logged a loss of 8 cents per share in the first quarter of 2024. In the year-ago quarter, the company had reported earnings of $10.51 per share.Adjusted earnings in the reported quarter came in at 26 cents per share, missing the Zacks Consensus Estimate of 35 cents.Revenues fell roughly 47% year over year to $1,360.7 million in the quarter. However, the metric beat the Zacks Consensus Estimate of $1,309.6 million. The top line was hurt by lower prices in the Energy Storage unit. ...

Albemarle (ALB) reported $1.36 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 47.3%. EPS of $0.26 for the same period compares to $10.32 a year ago.The reported revenue represents a surprise of +3.91% over the Zacks Consensus Estimate of $1.31 billion. With the consensus EPS estimate being $0.35, the EPS surprise was -25.71%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine the ...

Albemarle (ALB) came out with quarterly earnings of $0.26 per share, missing the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $10.32 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -25.71%. A quarter ago, it was expected that this specialty chemicals company would post earnings of $0.99 per share when it actually produced earnings of $1.85, delivering a surprise of 86.87%.Over the last four quarter ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q _________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For Quarterly Period Ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-12658 _________________________________________________ ALBEMARLE CORPORATION ...

Financial Performance - Net sales for Q1 2024 were $1.4 billion, a decrease of 47% year-over-year from $2.6 billion in Q1 2023, primarily due to lower pricing in Energy Storage[12]. - Net income attributable to Albemarle was $2 million, down $1.2 billion from the prior year, with adjusted EBITDA of $291 million, a decline of $1.5 billion or 83.5% year-over-year[10][12]. - Energy Storage net sales decreased by 59% to $801 million, driven by a 89% drop in pricing, despite a 31% increase in volumes[14]. - Adjusted diluted EPS for Q1 2024 was $0.26, down from $10.32 in Q1 2023, reflecting the impact of lower lithium market pricing[10][12]. - Gross profit for Q1 2024 was $38,938, down from $1,276,540 in Q1 2023, reflecting a significant decline[24]. - Operating loss for Q1 2024 was $(179,506), compared to an operating profit of $1,101,763 in Q1 2023[24]. - Net income attributable to Albemarle Corporation was $2,448 in Q1 2024, a sharp decline from $1,238,580 in Q1 2023[24]. - Total adjusted EBITDA for Q1 2024 was $291,236, a decrease of 83.5% from $1,761,704 in Q1 2023[28]. - Adjusted net income attributable to common shareholders was $30,557 thousand in Q1 2024, compared to $1,216,180 thousand in Q1 2023, reflecting a significant decline[34]. - EBITDA for Q1 2024 was $160,447 thousand, representing 11.8% of net sales, compared to $1,629,591 thousand or 63.2% of net sales in Q1 2023[34]. Liquidity and Capital Expenditures - As of March 31, 2024, Albemarle had estimated liquidity of approximately $3.7 billion, including $2.1 billion in cash and equivalents[19]. - Capital expenditures for 2024 are estimated to be between $1.6 billion and $1.8 billion, with depreciation and amortization expected to be $580 to $660 million[9]. - The company completed a $2.3 billion public offering of mandatory convertible preferred stock to enhance financial flexibility and fund growth investments[18]. - Cash and cash equivalents increased to $2,055,813 as of March 31, 2024, up from $889,900 at the beginning of the year[27]. - Total assets rose to $19,032,333 as of March 31, 2024, compared to $18,270,652 at the end of 2023[26]. Tax and Restructuring - The effective income tax rate for Q1 2024 was 2.2%, a significant decrease from 23.9% in Q1 2023, primarily due to changes in geographic income mix[13]. - The company recorded $33.5 million in severance costs and other restructuring charges in Q1 2024, impacting financial flexibility[35]. - Non-recurring and other unusual items totaled $40,044 thousand in Q1 2024, compared to a negative $22,774 thousand in Q1 2023[34]. Future Outlook - Albemarle's full-year outlook for 2024 includes net sales projections of $5.5 to $6.2 billion, depending on lithium market price scenarios[5]. - The company is on track to achieve over $280 million in productivity benefits for 2024, having delivered over $90 million in Q1[3]. - The company plans to optimize its cost structure and re-phase organic growth investments to enhance cash flow and financial flexibility[35].