Albemarle Corp Stock Price, News & Analysis

Albemarle Corporation (NYSE: ALB) announced preliminary fourth-quarter results for 2020, reporting net sales between $870 million and $880 million, a decline of 11% to 12% year-over-year. Net income is projected to range from $77 million to $87 million, down 3% to 15%. Adjusted EBITDA is estimated at $213 million to $223 million, down 24% to 28%. Despite these declines, the company expects improved performance in 2021, particularly in Lithium and Bromine sectors, driven by volume increases and ongoing cost-saving measures.

Albemarle Corporation (NYSE: ALB) has initiated an underwritten public offering of $1.3 billion in common stock, with an option for underwriters to purchase an additional $195 million. The net proceeds will primarily fund growth capital expenditures for lithium operations in Australia, Chile, and Nevada, as well as short-term debt repayment. The offering is subject to market conditions and is based on a previously filed registration statement with the SEC.

Albemarle Corporation (NYSE: ALB) will release its fourth-quarter 2020 earnings on Feb. 17, 2021, after market close. A conference call to discuss the results will be held on Feb. 18 at 9:00 a.m. ET. Participants can access the call via the webcast on the company's website or by phone. The company highlights its commitment to the global specialty chemicals industry, focusing on sustainable practices and innovation.

Albemarle Corporation (NYSE: ALB) announced the appointment of Melissa Anderson as the new Senior Vice President and Chief Human Resources Officer, effective January 11, 2021. Anderson joins from Duke Energy, bringing extensive HR experience from her roles at Domtar Corporation and IBM. CEO Kent Masters highlighted her ability to implement global human capital strategies that will enhance Albemarle's workforce capabilities. With a strong educational background in industrial relations, Anderson also serves on various boards, including Vulcan Materials.

Albemarle Corporation (NYSE: ALB) announced plans to expand lithium production at its Silver Peak facility in Nevada, investing $30 million to $50 million to double capacity by 2025. This initiative responds to the growing demand for electric vehicle (EV) batteries and aims to optimize domestic lithium resources. Albemarle will also explore lithium extraction from clay sources and enhance brine extraction processes in collaboration with Argonne National Laboratory. This expansion underscores the company's commitment to supporting the EV market and ensuring a sustainable supply chain.

Bernhard Capital Partners has appointed Luther C. Kissam, IV as Partner. Kissam, former CEO of Albemarle Corporation (NYSE: ALB), brings extensive experience in the transitional energy sector. He played a crucial role in Albemarle's $6.2 billion acquisition of Rockwood Holdings and is recognized for his contributions to the lithium market, vital for clean energy. Additionally, Jeffrey Koonce and Jonathan de Lauréal have been promoted to Partner and Managing Director, respectively, acknowledging their impactful contributions since joining the firm.

On December 15, 2020, Albemarle Corporation (NYSE: ALB) announced it received the Carolinas Community Design Award from the U.S. Green Building Council for its sustainable headquarters expansion in Charlotte, N.C. This project, completed in January 2019, covers about 141,000 square feet and emphasizes wellness and collaboration. Earlier in the year, Albemarle also achieved LEED Gold certification for this expansion. The award reflects the company's commitment to sustainability and enhancing employee work environments, as stated by John Gifford, Director of Global Real Estate.

Albemarle Corporation (NYSE: ALB), a leader in specialty chemicals, announced that Eric Norris, President of Lithium, will keynote at Benchmark Minerals' Lithium Conference on December 10, 2020, at 4 p.m. ET. This event, part of Benchmark Week 2020, connects lithium-ion battery and electric vehicle supply chain experts. Attendees can register for the session online. Albemarle is committed to sustainable solutions in lithium, bromine, and refining catalysts, impacting critical industries like energy and transportation.