With the fallout in the electric vehicle sector, talking about the best lithium stocks to buy might seem premature. Nevertheless, lithium is more than just EVs.To be sure, the EV sector represents a major consumer of the critical metal. However, myriad other industries also utilize the commodity. They include consumer electronics, medical devices, aerospace and industrial applications, to name but a few. So, over the long run, lithium should make a recovery.Factor in the possible recovery of the EV ecosyste ...

Albemarle Corporation (NYSE:ALB) Q1 2024 Results Conference Call May 2, 2024 9:00 AM ET Company Participants Meredith Bandy - Vice President, Investor Relations and Sustainability Kent Masters - Chief Executive Officer Neal Sheorey - Chief Financial Officer Netha Johnson - President, Specialties Eric Norris - President, Energy Storage Conference Call Participants Aleksey Yefremov - KeyBanc Capital Arun Viswanathan - RBC Capital David Deckelbaum - TD Cowen Rob Hoffman - Bank of America Andres Castanos - Bere ...

Albemarle Corporation (ALB) logged a loss of 8 cents per share in the first quarter of 2024. In the year-ago quarter, the company had reported earnings of $10.51 per share.Adjusted earnings in the reported quarter came in at 26 cents per share, missing the Zacks Consensus Estimate of 35 cents.Revenues fell roughly 47% year over year to $1,360.7 million in the quarter. However, the metric beat the Zacks Consensus Estimate of $1,309.6 million. The top line was hurt by lower prices in the Energy Storage unit. ...

Albemarle (ALB) reported $1.36 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 47.3%. EPS of $0.26 for the same period compares to $10.32 a year ago.The reported revenue represents a surprise of +3.91% over the Zacks Consensus Estimate of $1.31 billion. With the consensus EPS estimate being $0.35, the EPS surprise was -25.71%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine the ...

Albemarle (ALB) came out with quarterly earnings of $0.26 per share, missing the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $10.32 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -25.71%. A quarter ago, it was expected that this specialty chemicals company would post earnings of $0.99 per share when it actually produced earnings of $1.85, delivering a surprise of 86.87%.Over the last four quarter ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q _________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For Quarterly Period Ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-12658 _________________________________________________ ALBEMARLE CORPORATION ...

Financial Performance - Net sales for Q1 2024 were $1.4 billion, a decrease of 47% year-over-year from $2.6 billion in Q1 2023, primarily due to lower pricing in Energy Storage[12]. - Net income attributable to Albemarle was $2 million, down $1.2 billion from the prior year, with adjusted EBITDA of $291 million, a decline of $1.5 billion or 83.5% year-over-year[10][12]. - Energy Storage net sales decreased by 59% to $801 million, driven by a 89% drop in pricing, despite a 31% increase in volumes[14]. - Adjusted diluted EPS for Q1 2024 was $0.26, down from $10.32 in Q1 2023, reflecting the impact of lower lithium market pricing[10][12]. - Gross profit for Q1 2024 was $38,938, down from $1,276,540 in Q1 2023, reflecting a significant decline[24]. - Operating loss for Q1 2024 was $(179,506), compared to an operating profit of $1,101,763 in Q1 2023[24]. - Net income attributable to Albemarle Corporation was $2,448 in Q1 2024, a sharp decline from $1,238,580 in Q1 2023[24]. - Total adjusted EBITDA for Q1 2024 was $291,236, a decrease of 83.5% from $1,761,704 in Q1 2023[28]. - Adjusted net income attributable to common shareholders was $30,557 thousand in Q1 2024, compared to $1,216,180 thousand in Q1 2023, reflecting a significant decline[34]. - EBITDA for Q1 2024 was $160,447 thousand, representing 11.8% of net sales, compared to $1,629,591 thousand or 63.2% of net sales in Q1 2023[34]. Liquidity and Capital Expenditures - As of March 31, 2024, Albemarle had estimated liquidity of approximately $3.7 billion, including $2.1 billion in cash and equivalents[19]. - Capital expenditures for 2024 are estimated to be between $1.6 billion and $1.8 billion, with depreciation and amortization expected to be $580 to $660 million[9]. - The company completed a $2.3 billion public offering of mandatory convertible preferred stock to enhance financial flexibility and fund growth investments[18]. - Cash and cash equivalents increased to $2,055,813 as of March 31, 2024, up from $889,900 at the beginning of the year[27]. - Total assets rose to $19,032,333 as of March 31, 2024, compared to $18,270,652 at the end of 2023[26]. Tax and Restructuring - The effective income tax rate for Q1 2024 was 2.2%, a significant decrease from 23.9% in Q1 2023, primarily due to changes in geographic income mix[13]. - The company recorded $33.5 million in severance costs and other restructuring charges in Q1 2024, impacting financial flexibility[35]. - Non-recurring and other unusual items totaled $40,044 thousand in Q1 2024, compared to a negative $22,774 thousand in Q1 2023[34]. Future Outlook - Albemarle's full-year outlook for 2024 includes net sales projections of $5.5 to $6.2 billion, depending on lithium market price scenarios[5]. - The company is on track to achieve over $280 million in productivity benefits for 2024, having delivered over $90 million in Q1[3]. - The company plans to optimize its cost structure and re-phase organic growth investments to enhance cash flow and financial flexibility[35].

With the fallout in the electric vehicle space, contrarian investors may want to consider certain battery stocks to buy. This approach has a few advantages over targeting specific EV brands.First, all EVs require an underlying power supply. Second, it’s difficult to tell which automaker will ultimately stand victorious following the bloodbath. It could be one of the legacy manufacturers or a pure-play enterprise. It’s a tossup.Third, the political and ideological framework is pushing industries of all strip ...

USA News Group Commentary VANCOUVER, BC, April 26, 2024 /PRNewswire/ -- USA News Group – Already in 2023 there have been two multibillion-dollar takeover bids rejected that would've involved critical battery metals assets. The first to go down was Liontown Resources turning down a US$3.6 billion offer from Albemarle Corporation (NYSE:ALB), followed by Teck Resources Limited (NYSE:TECK) (TSX:TECK-A) (TSX:TECK-B) rejecting a US$23.2 billion merger proposal from Glencore plc (OTC:GLNCY). Meanwhile, mining gian ...

The lithium specialist's stock is looking increasingly attractive.Lithium miner Albemarle (ALB -1.80%) has struggled since hitting an all-time high in 2022, with shares down about 64% since. A primary cause of the decline is likely profit-taking after an intense run-up during the pandemic, but slowing adoption of electric vehicles (EVs) and reduced expectations for future EV demand are also significant factors.Multiple automakers -- including Ford Motor Company (NYSE: F), General Motors (NYSE: GM), Volkswag ...