Albemarle Corporation reports news on its role as a global producer of lithium and bromine used in mobility, energy, connectivity and health applications. Company updates commonly cover Energy Storage and Specialties performance, lithium market pricing and volumes, bromine-based solutions, operational productivity, and cash generation.
Recurring developments also include quarterly earnings releases, common stock dividends, debt tender offers and note redemptions, board and committee appointments, and portfolio actions. Recent corporate updates include the completed sale of a controlling stake in Ketjen's refining catalyst solutions business, Albemarle's retained minority interest in Ketjen, and the integration of Performance Catalyst Solutions into Albemarle's product portfolio.
Albemarle Corporation (NYSE: ALB) has endorsed the UN Global Compact CEO Water Mandate, committing to advance water stewardship through six key areas: direct operations, supply chain management, collective action, public policy, community engagement, and transparency. The announcement includes a goal to reduce freshwater use intensity by 25% by 2030 in high-risk areas. Notable investments include $100 million in Chile for thermal evaporator technology aimed at reducing freshwater consumption by 30% per kilogram of lithium carbonate. Annual progress reports will be made via CDP disclosures.
Albemarle Corporation (NYSE: ALB) will release its first-quarter 2022 earnings after market close on May 4, 2022. A conference call to discuss the results is scheduled for May 5 at 9:00 a.m. ET, accessible via their website or by phone. Participants are encouraged to join via the webcast to avoid delays. The company is a leader in specialty chemicals, focusing on lithium, bromine, and catalysts, and aims to provide sustainable solutions across various sectors including energy and electronics.
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Albemarle Corporation (NYSE: ALB) will present at the J.P. Morgan Industrials Conference on March 16, 2022, at 9:40 a.m. ET. CEO Kent Masters and CFO Scott Tozier are set to discuss the company's strategies in specialty chemicals, particularly in lithium, bromine, and catalysts. Investors can access presentation materials and a webcast via Albemarle's website after the event. The company is committed to sustainable practices, creating value-added solutions for critical industries worldwide.
Albemarle Corporation (NYSE: ALB) announced its participation in a virtual fireside chat hosted by RBC Capital Markets on March 8, 2022, at 9:20 a.m. ET. CEO Kent Masters and CFO Scott Tozier will represent the company. Presentation materials will be available on Albemarle's website during the event, with replays accessible approximately 48 hours post-event. Albemarle is a leader in specialty chemicals, specializing in lithium, bromine, and catalysts, committed to sustainable practices across various critical industries.
Albemarle Corporation (NYSE: ALB) has declared a quarterly dividend of $0.395 per share, marking the 28th consecutive year of increasing dividends. The annualized rate stands at $1.58, payable on April 1, 2022, to shareholders of record as of March 18, 2022. This consistent dividend growth underscores Albemarle's strong financial position and commitment to returning value to its shareholders.
Albemarle Corporation (NYSE: ALB) has appointed Ralf H. Cramer to its Board of Directors, effective February 21, 2022. Cramer brings over 25 years of experience in the automotive sector, having previously held significant roles at Continental AG and served as a senior consultant. His appointment is expected to enhance the Board's capabilities in finance and safety, providing valuable insights and leadership. The Board welcomes his expertise, which could positively impact Albemarle's operations and strategic direction.
Albemarle Corporation (NYSE: ALB) reported Q4 2021 results with net sales of $894 million, a 2% year-over-year increase, but faced a net loss of $3.8 million. Adjusted diluted EPS was $1.01, down 13.7% from the previous year. Adjusted EBITDA rose 3% to $229 million. The outlook for 2022 is optimistic, expecting adjusted EBITDA to grow 35%-55% year-over-year, driven by lithium and bromine markets. Capital expenditures are projected between $1.3 billion and $1.5 billion as the company focuses on conversion capacity expansion.
Albemarle Corporation (NYSE: ALB) announced a non-binding letter agreement with Mineral Resources Limited (ASX: MIN) to explore expanding the MARBL Lithium Joint Venture. The proposal includes changing the ownership of the Wodgina mine from 60/40 to 50/50, while maintaining the 60/40 split for Kemerton I/II. Albemarle aims to boost lithium conversion capacity and ensure reliable supply for global customers. The agreement is subject to further due diligence and binding contracts.
On January 13, 2022, Albemarle Corporation (NYSE: ALB) and 6K announced a joint development agreement to explore the use of 6K's UniMelt® platform for advanced lithium battery materials. This collaboration aims to innovate sustainable manufacturing processes, potentially reducing CO2 emissions by 70%, water consumption by 90%, and wastewater by 100%. Additionally, Albemarle has made an undisclosed investment in 6K through Volta Energy Technologies, reinforcing its commitment to leading lithium technology.