Welcome to our dedicated page for Albemarle news (Ticker: ALB), a resource for investors and traders seeking the latest updates and insights on Albemarle stock.
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) reported third-quarter 2021 net sales of $830.6 million, a growth of 11% year-over-year. However, the company faced a net loss of $392.8 million or ($3.36) per diluted share, primarily due to a $657.4 million arbitration charge. Adjusted EBITDA rose to $217.6 million, a slight 1% increase. The company announced plans to acquire Guangxi Tianyuan New Energy Materials, enhancing lithium conversion capacity. Full-year guidance was raised, anticipating net sales of $3.3 - $3.4 billion.
On October 29, 2021, Albemarle Corporation (NYSE: ALB) addressed an arbitration decision related to a dispute between Huntsman Corporation and Rockwood Holdings. This dispute originates from a transaction that occurred in 2013 and closed in 2014, before Albemarle owned Rockwood. The company has expressed disbelief over the arbitration panel's ruling, asserting it lacks evidence and contradicts New York law. Albemarle is currently evaluating its legal options, including potentially vacating the award.
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Albemarle Corporation (NYSE: ALB) will participate in a virtual fireside chat hosted by Oppenheimer & Co. Inc. on Nov. 8, 2021, at 11:00 a.m. ET. The chat will feature Eric Norris, President of Lithium, and Glen Merfeld, Chief Technology Officer of Lithium. Presentation materials will be available during the event on Albemarle's website. The live event is exclusive to Oppenheimer clients, with a replay accessible approximately 30 minutes post-event.
Albemarle Corporation (NYSE: ALB) has declared a quarterly dividend of $0.39 per share, with an annualized rate of $1.56. This dividend is scheduled for payment on January 3, 2022, to shareholders on record as of December 17, 2021. Albemarle specializes in chemicals, focusing on lithium, bromine, and catalysts, aiming for sustainable growth across key industries like energy and transportation.
On October 22, 2021, Albemarle Corporation (NYSE: ALB) announced strategic investments in China to enhance its lithium conversion capacity. The company has signed agreements with the Yangtze River International Chemical Industrial Park and the Pengshan Economic Development Park, aiming to construct lithium hydroxide conversion plants with a targeted capacity of 50,000 metric tons annually at each site. Construction is expected to commence in 2022 and conclude by the end of 2024, supporting Albemarle's commitment to customer growth and sustainability.
Albemarle Corporation (NYSE: ALB) has released its inaugural Community Impact Report through the Albemarle Foundation, highlighting its philanthropic initiatives in 2020. The Foundation, established in 2007, aims to make a sustainable difference in local communities, distributing over $5.6 million in grants in 2020 and more than $46 million since its inception. The report showcases the commitment of employees and partners to the Foundation's mission, supporting education, health, and cultural initiatives.
Albemarle Corporation (NYSE: ALB) announced the acquisition of Guangxi Tianyuan New Energy Materials Co., Ltd. for approximately $200 million. This acquisition is part of Albemarle's strategy to enhance lithium production capabilities, responding to the growing demand in the clean energy sector. Tianyuan operates a newly constructed lithium processing plant in Guangxi, China, aimed to commence commercial production in early 2022 with a capacity of 25,000 metric tons LCE. The acquisition aligns with Albemarle's goal to improve conversion capacity in a capital-efficient manner.
Albemarle Corporation (NYSE: ALB) announced it will release its third-quarter 2021 earnings on November 3, 2021, after NYSE closure. A conference call to discuss the results will be held on November 4, 2021, at 9:00 a.m. ET. This call will provide insights into the company’s financial performance and future outlook. Interested parties can access the call via Albemarle's website or by phone. The company operates in the specialty chemicals sector, focusing on lithium, bromine, and refining catalysts, and aims for sustainable practices in its operations.
On September 10, 2021, Albemarle Corporation (NYSE: ALB) hosted its 2021 Investor Day, presenting its long-term strategy for growth. CEO Kent Masters highlighted the company's commitment to electrification and sustainability, emphasizing the new operating model, the Albemarle Way of Excellence. Key topics included plans to increase lithium conversion capacity, expand the Catalysts business in emerging markets, and enhance bromine production. The company reaffirmed its 2021 financial guidance and projected a 25%-35% increase in adjusted EBITDA for 2022, alongside ambitious long-term financial targets.