Albemarle Corp Stock Price, News & Analysis

Albemarle Corporation (NYSE: ALB) reported impressive fourth-quarter and full-year 2022 results, highlighting net sales of $2.6 billion, up 193%, and net income of $1.1 billion, equating to $9.60 per diluted share. The adjusted diluted EPS surged 753% to $8.62. For full-year 2022, net sales exceeded $7 billion, doubling 2021 figures, while adjusted EBITDA reached approximately $3.5 billion, nearly quadrupling the previous year. Albemarle anticipates 2023 net sales between $11.3 - $12.9 billion and adjusted EBITDA of $4.2 - $5.1 billion. The company is poised for transformative growth with projections for 2027 net sales reaching $17.6 - $19.3 billion, driven by a disciplined capital allocation and increasing demand for lithium.

Albemarle Corporation (NYSE: ALB) has launched Ketjen, a wholly owned subsidiary focused on advanced catalyst solutions for the petrochemical, refining, and specialty chemicals industries. The brand, formally introduced in January 2023, aims to enhance customer support in energy transitions, offering tailored solutions in fluidized catalytic cracking, clean fuels, hydro-processing, and organometallics. Ketjen will provide a range of performance catalysts through three divisions while leveraging Albemarle's existing catalyst team. This initiative is expected to strengthen Albemarle's position as a partner-of-choice in the industry.

Albemarle Corporation (NYSE: ALB) will host its virtual 2023 Strategy Update on Jan. 24, 2023, from 9:00 a.m. to 10:45 a.m. ET. Key executives will present corporate strategy, preliminary 2022 results, and 2023 guidance. Highlights include an anticipated net sales range of $11.3 - $12.9 billion and an adjusted EBITDA of $4.2 - $5.1 billion for FY 2023. The company aims for long-term growth, especially in Energy Storage, with a 5-Year CAGR target of 25%-27%. Albemarle exceeded previous projections in 2022 and focuses on enhancing sustainability and operational performance. The event will be accessible via their website.

Albemarle Corporation (NYSE: ALB) will announce its fourth-quarter 2022 earnings on February 15, 2023, after the NYSE closes. A conference call to discuss the results is scheduled for February 16, 2023, at 9:00 a.m. ET. Investors can access the call via Albemarle's website or by phone. The replay will be available for 12 months online and 7 days via phone. Albemarle is a global specialty chemicals leader with significant positions in lithium, bromine, and catalysts, dedicated to sustainable practices across various critical industries.

Albemarle Corporation (NYSE: ALB) has announced an investment of at least $180 million to establish the Albemarle Technology Park (ATP) in Charlotte, North Carolina. This facility aims to enhance lithium recovery and production methods while accelerating the development of next-generation lithium products. The project is backed by a $13 million incentive from the state and will create at least 200 jobs with an average salary of $94,000 per year. Initial occupancy is expected by early 2025, with completion by late 2026.

Albemarle Corporation (NYSE: ALB) announced a corporate strategy webcast scheduled for January 24, 2023, at 9:00 a.m. ET. CEO Kent Masters and CFO Scott Tozier will present alongside the executive management team, discussing the company's 2023 guidance and a five-year outlook.

They will also detail a new segment structure. The event will conclude around 10:45 a.m. ET. A live audio webcast will be accessible on Albemarle's website. Further updates will be provided as the date approaches.

Albemarle Corporation (NYSE: ALB) has introduced a groundbreaking product called MercLok, aimed at capturing mercury from soil and mining waste. This cost-effective soil treatment effectively sequesters elemental and ionic mercury, thereby reducing methylmercury concentration by over 99%. Positioned as a leader in remediation, MercLok can be applied using existing techniques and is safe for both ecological environments and workers. The innovation underscores Albemarle's commitment to sustainability and minimizing environmental impacts, enhancing its reputation in the specialty chemicals market.

Albemarle Corporation (NYSE: ALB) has appointed Sean O'Hollaren as Chief External Affairs Officer, effective November 15, 2022. O'Hollaren brings extensive experience in corporate government and public affairs from roles at Nike, Honeywell, and Union Pacific Corp. His expertise will enhance Albemarle's engagement with government and community stakeholders, supporting the company's rapid growth and strategic objectives. CEO Kent Masters emphasized that O'Hollaren's background will help drive long-term value for all stakeholders. Albemarle is known for its leadership in specialty chemicals, particularly in lithium and bromine.

Albemarle Corporation (NYSE: ALB) reported strong Q3 2022 results with net sales of $2.1 billion, up 152% year-over-year, and net income of $897.2 million, or $7.61 per diluted share. The adjusted EBITDA reached $1.2 billion, a 447% increase. The company completed the $200 million acquisition of the Qinzhou lithium conversion plant in China and announced the mechanical completion of the Kemerton II project in Australia. Full-year guidance for net sales is tightened to $7.1 - $7.4 billion, reflecting substantial growth driven by lithium demand, while some softness in bromine markets is noted.