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) has initiated a third-party assessment using the Initiative for Responsible Mining Assurance's (IRMA) Standard for Responsible Mining at its lithium brine extraction site in Northern Chile. This makes Albemarle the first global lithium producer to undergo such rigorous auditing. The assessment, conducted by ERM Certification and Verification Services, will evaluate 26 areas, including water management and human rights. Albemarle also commits to reducing freshwater use intensity by 25% by 2030 in high-risk areas, and it shares 3.5% of revenues with local indigenous communities.
Albemarle Corporation (NYSE: ALB) reported Q2 2021 net income of $424.6 million, or $3.62 per diluted share, including a gain from the sale of its Fine Chemistry Services business. Adjusted diluted EPS rose 4% to $0.89, with net sales increasing 1% to $773.9 million, or 5% when excluding Fine Chemistry Services. The company revised its full-year 2021 outlook, anticipating improved lithium performance but facing higher bromine raw material costs. Albemarle completed the sale of Fine Chemistry Services for approximately $570 million on June 1, 2021, and is progressing with lithium projects to meet rising demand.
On July 20, 2021, Albemarle Corporation (NYSE: ALB) declared a quarterly dividend of $0.39 per share, amounting to an annualized rate of $1.56. The dividend is payable on October 1, 2021, to shareholders of record as of September 17, 2021. This reflects the company's commitment to return value to shareholders while maintaining sustainable growth in the specialty chemicals sector, which includes lithium, bromine, and catalysts.
Albemarle Corporation (NYSE: ALB) announced a virtual Investor Day scheduled for September 10, 2021, from 8:30 a.m. to 12:30 p.m. EDT. CEO Kent Masters and CFO Scott Tozier will present alongside other executives, discussing strategies and goals for the company and its business units. Registration for the event is available here. A live audio webcast will be accessible on the Albemarle website.
Albemarle Corporation (NYSE: ALB) has inaugurated its Battery Materials Innovation Center (BMIC) in Kings Mountain, North Carolina, expected to be operational by July 2021. The BMIC aims to enhance the company's lithium hydroxide, lithium carbonate, and energy storage materials. This facility features advanced capabilities for material synthesis, characterization, and integration into battery cells to boost performance. Albemarle remains the sole U.S. producer of lithium metal anodes, enhancing lithium-ion battery energy density and cost-effectiveness in the electric vehicle market.
Summary not available.
Surge Battery Minerals has finalized plans to acquire 38 mineral claims in Northern Nevada for USD$12,000 cash and 250,000 shares. This Northern Nevada Lithium Project aims to explore lithium clay deposits and is strategically located near proven lithium resources. The company noted initial promising lithium readings from sediment samples, with results reaching up to 1,980 ppm lithium. Surge plans further geological mapping and soil surveys to identify drilling targets. The acquisition aligns with broader industry momentum, notably from Albemarle's efforts to enhance domestic lithium production.
Albemarle Corporation (NYSE: ALB) will announce its second-quarter 2021 earnings on Wednesday, Aug. 4, 2021, following the NYSE market close. A conference call to discuss these results is scheduled for Thursday, Aug. 5, 2021, at 9:00 a.m. ET. Investors can access the call via webcast on Albemarle's investor relations website. The company specializes in specialty chemicals, focusing on lithium, bromine, and refining catalysts, and aims to provide sustainable solutions across key industries.
Summary not available.
Albemarle Corporation (NYSE: ALB) has finalized the $570 million sale of its Fine Chemistry Services business to W. R. Grace & Co.. The transaction includes $300 million in cash and $270 million in preferred equity from a W. R. Grace subsidiary. This divestiture encompasses operations in Tyrone, Pennsylvania and South Haven, Michigan. CEO Kent Masters stated that the sale unlocks significant value, enhancing resources for long-term growth strategies.