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Albemarle Corporation - ALB STOCK NEWS

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.

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.

News

ALBEMARLE ANNOUNCES PROPOSED PUBLIC OFFERING OF DEPOSITARY SHARES

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Albemarle Corporation (ALB) has announced a $1.75 billion offering of depositary shares representing a 1/20th interest in a share of Series A Mandatory Convertible Preferred Stock. The company intends to use the proceeds for general corporate purposes, including funding growth capital expenditures and repaying outstanding commercial paper.
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Albemarle Announces Quarterly Dividend

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Albemarle Corporation (ALB) declares a quarterly dividend of $0.40 per share, with an annualized rate of $1.60, payable on April 1, 2024, to shareholders of record as of March 15, 2024.
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Albemarle Corporation to Present at the BMO 33rd Global Metals, Mining & Critical Minerals Conference

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Albemarle Corporation (ALB) Chairman and CEO to present at BMO Capital Markets 2024 Investor Conference on Feb. 26, 2024. Webcast replay available on Albemarle's website.
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Albemarle Reports Fourth Quarter and Full Year 2023 Results

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Albemarle Corporation (ALB) reports a 31% increase in full-year net sales, driven by 21% volume growth. The company achieved record net sales of $9.6 billion in 2023, with net income of $1.6 billion. Adjusted EBITDA stood at $2.8 billion, and adjusted diluted EPS was $15.22 per share. The fourth quarter saw net sales of $2.4 billion, with a net loss of $618 million. Albemarle announced measures to unlock over $750 million in cash flow and achieved mechanical completion at the Meishan lithium conversion plant.
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The Oregon Group Predicts Lithium Demand set for 20 years of Rapid Growth

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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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/C O R R E C T I O N from Source -- The Oregon Group/

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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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Albemarle Outlines Actions to Preserve Growth, Reduce Costs and Optimize Cash Flow

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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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Albemarle Corporation to Release Fourth-Quarter 2023 Earnings Results on Wednesday, February 14, 2024

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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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ALBEMARLE ANNOUNCES NEW SENIOR VICE PRESIDENT, CHIEF EXTERNAL AFFAIRS AND COMMUNICATIONS OFFICER

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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 Reports Net Sales Increase of 10% for Third Quarter 2023

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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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FAQ

What is the current stock price of Albemarle Corporation (ALB)?

The current stock price of Albemarle Corporation (ALB) is $103.53 as of November 15, 2024.

What is the market cap of Albemarle Corporation (ALB)?

The market cap of Albemarle Corporation (ALB) is approximately 11.8B.

What does Albemarle Corporation do?

Albemarle Corporation develops, manufactures, and markets specialty chemicals, including lithium compounds, bromine, catalysts, and surface treatment chemistries for various industries.

Where is Albemarle Corporation headquartered?

Albemarle Corporation is headquartered in Baton Rouge, Louisiana.

How large is Albemarle’s workforce?

Albemarle employs approximately 6,900 people worldwide.

What are Albemarle’s main products?

Albemarle's main products include lithium compounds, bromine and derivatives, catalysts, and surface treatment chemistries.

In which markets does Albemarle operate?

Albemarle operates in markets such as consumer electronics, transportation, refining, pharmaceuticals, agriculture, construction, and more.

What is Albemarle’s role in the lithium industry?

Albemarle is one of the world's largest lithium producers, vital for energy storage in electric vehicle batteries.

How has Albemarle performed financially in recent times?

In 2023, Albemarle achieved a record net sales of $9.6 billion, marking a 31% increase from the previous year.

What recent initiatives has Albemarle undertaken?

Albemarle announced a $1 million donation to Cleveland Community College for workforce training and is taking measures to enhance financial flexibility.

What are Albemarle’s future growth areas?

Albemarle focuses on expanding lithium conversion plants and advancing sustainable chemical technologies.

How does Albemarle contribute to community development?

Albemarle supports various community initiatives, including educational, health, and cultural programs, recently donating $1 million to Cleveland Community College.

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Albemarle Corporation

NYSE:ALB

ALB Rankings

#770 Ranked by Market Cap
#1546 Ranked by Dividends

ALB Stock Data

11.82B
117.54M
0.35%
95.29%
11.67%
Specialty Chemicals
Plastic Materials, Synth Resins & Nonvulcan Elastomers
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United States of America
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