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Albemarle Corporation (NYSE: ALB), headquartered in Baton Rouge, Louisiana, is a leading specialty chemicals company with a global footprint. Albemarle excels in developing, manufacturing, and marketing high-value products such as lithium and lithium compounds, bromine and derivatives, catalysts, and surface treatment chemistries. These products find applications in a wide array of industries, including consumer electronics, flame retardants, metal processing, plastics, transportation, refining, pharmaceuticals, agriculture, and construction.
As a fully integrated lithium producer, Albemarle operates significant upstream resources, including salt brine deposits in Chile and the US, and hard rock mines in Australia through joint ventures. The company has refining operations in Chile, the US, Australia, and China, making it one of the world's largest lithium producers. With lithium playing a crucial role in electric vehicle batteries, Albemarle is well-positioned for growth in the energy storage market, boasting 35% volume growth in Energy Storage sales volumes in 2023.
In addition to its stronghold in the lithium market, Albemarle is a global leader in bromine production, essential for flame retardants, and a significant producer of oil refining catalysts. The company's ongoing projects include the expansion of lithium conversion plants and advancements in technology for sustainable solutions.
Financially, Albemarle achieved a record net sales of $9.6 billion in 2023, driven by a 31% increase from the previous year. The company's continuous growth and strategic investments have positioned it for future success. Albemarle employs approximately 6,900 people and serves clients in around 100 countries, further strengthening its global presence.
Albemarle is committed to community development and environmental stewardship. Recently, the company announced a $1 million donation to Cleveland Community College to enhance workforce training programs and foster regional economic growth. Moreover, Albemarle's proactive measures are expected to unlock over $750 million in cash flow, ensuring ongoing financial flexibility and sustainable growth.
For more information on Albemarle Corporation, visit their website at www.albemarle.com.
Albemarle Corporation (NYSE: ALB) reported first-quarter 2022 net sales of $1.13 billion, up 36% year-over-year. Net income rose to $253.4 million ($2.15 per diluted share), with adjusted EBITDA at $432 million, an 88% increase. The company revised its 2022 guidance upward, anticipating net sales growth of 60-70% and adjusted EBITDA growth of 100-140%. Significant contributions stemmed from the Lithium segment, which saw net sales of $550.3 million (+97%) and adjusted EBITDA of $308.6 million (+190%).
Albemarle Corporation (NYSE: ALB) has declared a quarterly dividend of $0.395 per share, amounting to an annualized rate of $1.58. The dividend is payable on July 1, 2022, to shareholders on record as of June 10, 2022. This decision reflects the company's commitment to returning value to shareholders while maintaining a sustainable approach to business operations.
Albemarle Corporation (NYSE: ALB) has appointed Maria Brennan as the new Chief Supply Chain Officer, effective April 29, 2022. Brennan, with extensive experience from Domtar and major companies like General Mills and PepsiCo, is expected to enhance Albemarle's supply chain efficiency. CEO Kent Masters emphasized her capability in driving improvements that will contribute to a more agile and sustainable supply chain, benefiting all stakeholders. Albemarle is known for its leadership in lithium, bromine, and catalysts, focusing on sustainable practices.
Albemarle Corporation (NYSE: ALB) has endorsed the UN Global Compact CEO Water Mandate, committing to advance water stewardship through six key areas: direct operations, supply chain management, collective action, public policy, community engagement, and transparency. The announcement includes a goal to reduce freshwater use intensity by 25% by 2030 in high-risk areas. Notable investments include $100 million in Chile for thermal evaporator technology aimed at reducing freshwater consumption by 30% per kilogram of lithium carbonate. Annual progress reports will be made via CDP disclosures.
Albemarle Corporation (NYSE: ALB) will release its first-quarter 2022 earnings after market close on May 4, 2022. A conference call to discuss the results is scheduled for May 5 at 9:00 a.m. ET, accessible via their website or by phone. Participants are encouraged to join via the webcast to avoid delays. The company is a leader in specialty chemicals, focusing on lithium, bromine, and catalysts, and aims to provide sustainable solutions across various sectors including energy and electronics.
Albemarle Corporation (NYSE: ALB) will present at the J.P. Morgan Industrials Conference on March 16, 2022, at 9:40 a.m. ET. CEO Kent Masters and CFO Scott Tozier are set to discuss the company's strategies in specialty chemicals, particularly in lithium, bromine, and catalysts. Investors can access presentation materials and a webcast via Albemarle's website after the event. The company is committed to sustainable practices, creating value-added solutions for critical industries worldwide.
Albemarle Corporation (NYSE: ALB) announced its participation in a virtual fireside chat hosted by RBC Capital Markets on March 8, 2022, at 9:20 a.m. ET. CEO Kent Masters and CFO Scott Tozier will represent the company. Presentation materials will be available on Albemarle's website during the event, with replays accessible approximately 48 hours post-event. Albemarle is a leader in specialty chemicals, specializing in lithium, bromine, and catalysts, committed to sustainable practices across various critical industries.
Albemarle Corporation (NYSE: ALB) has declared a quarterly dividend of $0.395 per share, marking the 28th consecutive year of increasing dividends. The annualized rate stands at $1.58, payable on April 1, 2022, to shareholders of record as of March 18, 2022. This consistent dividend growth underscores Albemarle's strong financial position and commitment to returning value to its shareholders.
Albemarle Corporation (NYSE: ALB) has appointed Ralf H. Cramer to its Board of Directors, effective February 21, 2022. Cramer brings over 25 years of experience in the automotive sector, having previously held significant roles at Continental AG and served as a senior consultant. His appointment is expected to enhance the Board's capabilities in finance and safety, providing valuable insights and leadership. The Board welcomes his expertise, which could positively impact Albemarle's operations and strategic direction.
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