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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 Q4 2020 net income of $84.6 million ($0.79 per diluted share), with adjusted diluted EPS at $1.17. Net sales reached $879 million, an 11% decline year-over-year, while adjusted EBITDA fell 25% to $221 million. Sustainable cost savings of approximately $80 million were achieved in 2020. The company maintained a quarterly dividend of $0.385, up 5% from 2019, and completed a $1.5 billion equity offering to support growth initiatives. For FY 2021, Albemarle projects net sales of $3.2 - $3.3 billion and adjusted EBITDA of $810 - $860 million.
Albemarle Corporation (NYSE: ALB) has priced a public offering of 8,496,733 shares of common stock at $153.00 per share, targeting gross proceeds of approximately $1.3 billion. The offering is set to close on February 8, 2021, pending standard conditions. Proceeds will primarily fund growth in lithium operations across Australia, Chile, and Nevada, while also addressing short-term debt and corporate needs. The underwriters have a 30-day option to purchase an additional 1,274,509 shares.
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.
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