Welcome to our dedicated page for Albemarle Corporation news (Ticker: $ALB), a resource for investors and traders seeking the latest updates and insights on Albemarle Corporation stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Albemarle Corporation's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Albemarle Corporation's position in the market.
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A new report forecasts twenty years of rapid growth in the supply of lithium, driven by the dominant demand segment of electric batteries and vehicles. This growth is attributed to a significant price correction in 2023, geopolitical tensions, environmental concerns, and government permitting issues. Established lithium producers like Albemarle (NYSE:ALB) and Pilbara Minerals (ASX: PLS) stand to benefit, along with ETFs linked to the price of lithium. The report also highlights exciting investment entry points, particularly in Africa, and predicts that lithium will continue to be the dominant technology for electric batteries despite new research on next-generation technology.
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-4.17%
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The Oregon Group predicts 20 years of rapid growth in lithium demand, driven by electric vehicles. The report highlights significant price corrections in 2023, stalling new lithium projects and limiting supply expansion. Established lithium producers like Albemarle (NYSE: ALB) and Pilbara Minerals (ASX: PLS) will benefit from the higher priced market, along with ETFs linked to the price of lithium. Developing plays in Zimbabwe with Premier African Minerals (AIM: PREM) and Li3 Lithium Corp (TSX.V: LiLi) are also well positioned. Lithium has already become the new gasoline for 15.5% of new cars sold globally in H1 2023, according to BloombergNEF, and will continue to dominate the market despite new battery technology.
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-4.17%
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Albemarle Corporation (ALB) is re-phasing its growth investments and optimizing its cost structure to generate long-term financial flexibility, unlocking over $750 million of cash flow over the near term. The company expects its 2024 capital expenditures to be in the range of $1.6 billion to $1.8 billion, down from approximately $2.1 billion in 2023. These measures include commissioning the Meishan lithium conversion facility, completing commissioning activities for Trains 1 and 2 at the Kemerton lithium conversion facility, prioritizing permitting activities at the Kings Mountain spodumene resource, deferring investment for the Albemarle Technology Park, and limiting sustaining capital spending to critical projects. Additionally, the company is pursuing actions to optimize its cost structure, reducing costs by approximately $95 million annually, primarily related to sales, general, and administrative expenses.
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-4.17%
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Albemarle Corporation (NYSE: ALB) to release fourth-quarter 2023 earnings on February 14, 2024, with a conference call scheduled for February 15, 2024, to discuss the results.
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-2.02%
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Albemarle Corporation (NYSE: ALB) promotes Cynthia Lima to senior vice president, chief external affairs and communications officer. Cynthia brings extensive government affairs and communications experience, spanning both public and private sectors. She will report to Albemarle CEO Kent Masters and play a critical role in engaging with key stakeholders and communities as the company continues to grow.
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Albemarle Corporation reports Q3 2023 results with net sales of $2.3 billion, a 10% increase YoY. Net income was $302.5 million, or $2.57 per diluted share. The company signed agreements with Caterpillar Inc. and received a $90 million critical materials award from the U.S. Department of Defense. They expect 2023 net sales to increase approximately 30-35% YoY and adjusted EBITDA to be flat to slightly down YoY.
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1.35%
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Albemarle Corporation announces Neal Sheorey as its new executive vice president and CFO, effective Nov. 6, 2023. Scott Tozier will transition to a strategic advisor role. Sheorey brings over 20 years of experience from Dow, where he held various finance and leadership roles.
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-0.08%
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Albemarle Corporation's Board of Directors declares a quarterly dividend of $0.40 per share with an annualized rate of $1.60. The dividend will be payable on January 2, 2024, to shareholders of record as of December 15, 2023.
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2.17%
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Albemarle Corporation announces the closure of its MARBL joint venture with Mineral Resources Limited and the restructuring of ownership of key facilities.
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-0.2%
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Albemarle Corporation withdraws offer to purchase Liontown Resources Limited
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2.66%
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Albemarle Corporation
NYSE:ALB
ALB Rankings
ALB Stock Data
15.41B
116.86M
0.32%
95.89%
12.44%
Plastics Material and Resin Manufacturing
Manufacturing
United States of America
CHARLOTTE
About ALB
albemarle corporation, headquartered in baton rouge, louisiana, is a premier specialty chemicals company with leading positions in attractive end markets around the world. with a broad customer reach and diverse end markets, albemarle develops, manufactures and markets technologically advanced and high value added products, including lithium and lithium compounds, bromine and derivatives, catalysts and surface treatment chemistries used in a wide range of applications including consumer electronics, flame retardants, metal processing, plastics, contemporary and alternative transportation vehicles, refining, pharmaceuticals, agriculture, construction and custom chemistry services. albemarle is focused on delivering differentiated, performance-based technologies that deliver innovative and sustainable solutions to its customers. the company employs approximately 6,900 people and serves customers in approximately 100 countries. albemarle regularly posts information to www.albemarle.com,