Albemarle Corp header image

Albemarle Corp

ALB

Equity

ISIN US0126531013 / Valor 199805

New York Stock Exchange, Inc (2024-12-24)
USD 89.99+0.89%

Albemarle Corp
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About company

Albemarle Corporation, headquartered in Charlotte, North Carolina, is a global leader in the development, manufacture, and marketing of highly specialized chemicals. With a workforce of over 7,000 employees, the company operates across approximately 100 countries, emphasizing its broad international presence. Albemarle's business is structured into distinct global business units, focusing on specific areas of expertise and market needs. The Specialties unit is renowned for its advanced bromine and lithium solutions, leveraging deep competencies in organic chemistry, application knowledge, and process technology. This segment is led by Netha Johnson. On the other hand, the Energy Storage unit, under the leadership of Eric Norris, concentrates on enhancing lithium utilization for energy storage applications. It aims to support the evolution of lithium-ion batteries and the broader global energy transition through a focus on reliable supply, consistent quality, and advancing research in production and advanced metals. This strategic orientation allows Albemarle to play a pivotal role in critical industries, including energy storage and electronics, by providing specialized chemical solutions.

Summarized from source with an LLMView SourceSector: Industrials

Latest Results (18.12.2024):

Net Sales Decline

Albemarle Corp reported net sales of $1.4 billion for the third quarter of 2024, marking a 41% decrease from the $2.3 billion recorded in the same quarter of the previous year. This decline was primarily driven by lower pricing in the Energy Storage segment, although it was partially offset by increased volumes in both Energy Storage and Specialties.

Net Loss and Charges

The company experienced a net loss of $1.1 billion for the third quarter of 2024, a significant decrease from the previous year. This loss included pre-tax charges of $861 million, mainly related to restructuring charges and asset write-offs, impacting the overall financial performance.

Adjusted EBITDA

Albemarle Corp's adjusted EBITDA for the third quarter of 2024 was $211 million, a decline of $441 million compared to the same period in 2023. The decrease was attributed to margin compression and reduced equity earnings due to lower pricing in the lithium value chain, despite favorable volume growth and cost and productivity benefits.

Energy Storage Segment

In the Energy Storage segment, net sales for the third quarter of 2024 were $767 million, a 55% decrease from the previous year. The decline was due to a 71% drop in pricing, which overshadowed a 16% increase in volumes. Adjusted EBITDA for this segment fell by $462 million, primarily due to margin compression from lower lithium market pricing.

Specialties and Ketjen Segments

The Specialties segment reported net sales of $342 million for the third quarter of 2024, a 3% decrease from the previous year, with adjusted EBITDA increasing by 21.5% to $56 million. Meanwhile, the Ketjen segment saw a 6% decline in net sales to $245 million, but adjusted EBITDA rose by 134% to $35.5 million, driven by productivity benefits and improved end-market demand.

Summarized from source with an LLMView Source

Key figures

-40.0%1Y
-60.5%3Y
24.4%5Y

Performance

58.4%1Y
53.9%3Y
53.8%5Y

Volatility

Market cap

10479 M

Market cap (USD)

Daily traded volume (Shares)

187,372

Daily traded volume (Shares)

1 day high/low

90.14 / 88

1 day high/low (USD)

52 weeks high/low

0.00 / 0.00

52 weeks high/low (USD)

Dividend ex-date

01 January, 2022

Dividend ex-date

Dividend

0.00

Dividend (USD)

Dividend yield (p.a.)

0.00%

Dividend yield (p.a.)

0.002022
0.002023
0.002024

Est dividend (USD)

0.00%2022
0.00%2023
0.00%2024

Est dividend yield

P/E ratio

10.00

P/E ratio

00.002022
00.002023
00.002024

Est P/E ratio

EPS

0.00

EPS (USD)

0.002022
0.002023
0.002024

Est EPS (USD)

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