Albemarle Corporation (NYSE:ALB) stock was last seen down 6.4% at $114.79, despite today announcing a multi-year agreement with the BMW Group for lithium for hydroxide supplies. The shares are down 55.2% over the last 12 months, and last week ran into resistance from a trendline that has historically generated headwinds.Albemarle stock is within one standard deviation of its 80-day moving average. Per Schaeffer's Senior Quantitative Analyst Rocky White's data, the equity saw five similar signals in the last ...

Battery stocks play a critical role in the burgeoning EV revolution. Moreover, McKinsey’s’ forecast shows the battery market is expected to grow to a whopping $400 billion by 2030. This represents a hefty 30% bump from 2022, outpacing estimates and electrifying investor prospects.Amid a robust U.S. economy, the Federal Reserve’s current hold on rate cuts hints at a fertile ground for future investment opportunities. This holds particularly true in growth sectors, including battery technology.Moreover, the a ...

CHARLOTTE, N.C., Feb. 19, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, announced today that Albemarle Corporation's Chairman and CEO Kent Masters is scheduled to present at the BMO Capital Markets 2024 Investor Conference on Monday, Feb. 26, 2024, at 1:30 pm ET.A webcast replay will be available following the conclusion of the event through the News and Events page on Albemarle's website at http://inve ...

Investment Rating - The report maintains a positive investment outlook for Albemarle Corporation, suggesting it has investment value despite recent losses, with the stock price significantly below historical averages [3]. Core Insights - Albemarle reported an adjusted net loss of $609.5 million for Q4 2023, primarily due to a $600 million inventory loss, which was much worse than the consensus estimate of $123.9 million [3]. - The company's Q4 2023 revenue was $2.356 billion, exceeding the consensus of $2.169 billion, attributed to a decline in lithium prices throughout the quarter [3]. - For FY 2024, Albemarle provided a wide guidance range for revenue of $5.5 billion to $7.6 billion, significantly below the consensus of $7 billion, and adjusted EBITDA guidance of $0.9 billion to $2.6 billion, compared to the consensus of $1.6 billion [3][4]. - The company anticipates a production growth rate of 10% to 20% in 2024, with expected progress on expansion projects in China and Australia [4]. Summary by Sections Financial Performance - Adjusted EBITDA for Q4 2023 was a loss of $315 million, compared to a consensus estimate of $222.3 million, while excluding inventory losses, adjusted EBITDA was $289 million [3]. - Capital expenditures for Q4 2023 were $684 million, aligning with the guidance of $1.9 billion to $2.1 billion for the year [3]. 2024 Guidance - The guidance for FY 2024 is highly dependent on lithium pricing, with revenue expectations ranging from $5.5 billion to $7.6 billion and adjusted EBITDA from $0.9 billion to $2.6 billion [3][4]. - The energy storage segment is projected to generate revenue of $3.2 billion to $4.9 billion, with adjusted EBITDA of $0.7 billion to $2.3 billion [7]. Production Outlook - The company expects production to grow by 10% to 20% in 2024, with a long-term forecast of a 16% annual growth rate by 2030 [4].

Albemarle (ALB 2.72%) stock gained 2.7% on Thursday, following the giant lithium producer's release on the prior afternoon of its fourth-quarter 2023 report. This modest rise was likely in part due to the quarter's revenue and adjusted earnings per share (EPS) exceeding Wall Street's expectations. Shares also probably got a mild tailwind from the overall market, as all the major indexes were up. On the negative side, however, the North Carolina-based specialty chemicals company's 2024 revenue guidance came ...

Albemarle Corporation (ALB) logged a loss of $617.7 million or $5.26 per share in the fourth quarter of 2023. The figure deteriorated from a profit of $1,132.4 million or $9.60 per share a year ago.Adjusted earnings in the reported quarter came in at $1.85 per share, topping the Zacks Consensus Estimate of 99 cents.Revenues fell roughly 10.1% year over year to $2,356.2 million in the quarter. However, the metric beat the Zacks Consensus Estimate of $2,289.8 million. The top line was hurt by lower lithium ma ...

Financial Data and Key Metrics Changes - For the full year 2023, the company reported net sales of $9.6 billion, a 31% increase compared to 2022, with 21% attributed to volume growth [5][11] - Adjusted EBITDA for 2023 was $2.8 billion, or $3.4 billion excluding a lower of cost or market charge recorded in Q4 [5][11] - Q4 2023 net sales were $2.4 billion, down 10% year-over-year, primarily due to lower lithium market pricing [8][11] Business Line Data and Key Metrics Changes - Energy Storage achieved 35% volumetric growth in 2023, but Q4 adjusted EBITDA decreased due to lower lithium market pricing [5][11][12] - Specialties experienced a decline in adjusted EBITDA by $64 million, driven by lower sales volumes and pricing [11] - Ketjen's adjusted EBITDA increased by $34 million, attributed to higher sales and pricing [11] Market Data and Key Metrics Changes - The company provided three lithium market price scenarios for 2024: $15, $20, and $25 per kilogram of lithium carbonate equivalent [13][14] - Approximately two-thirds of 2024 estimated volumes in Energy Storage are expected to be sold on index-referenced, variable-priced contracts [16] Company Strategy and Development Direction - The company announced a reduction in capital expenditures by $300 million to $500 million in 2024, focusing on high-return projects [22][24] - The company is committed to maintaining financial flexibility and adapting to changing market conditions [20][24] - Long-term growth in lithium demand is anticipated, with a projected 28% growth in 2024 alone [28][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the future of the company and ongoing demand for essential elements supporting modern infrastructure [6][7] - The current pricing environment is viewed as unsustainable, with a need for long-term pricing above investment economics to incentivize producers [28][29] - The company is actively monitoring geopolitical situations affecting operations, particularly in the Middle East [17] Other Important Information - The company plans to update its definition of adjusted EBITDA to include its share of pre-tax earnings from the Talison joint venture starting Q1 2024 [12] - The company is pursuing cash management actions to optimize working capital and reduce costs by nearly $100 million [23][24] Q&A Session Summary Question: Clarification on fourth quarter sales volumes and Q1 expectations - Management indicated that specific volume growth numbers for Q1 2024 have not been provided, but a 10% to 20% growth is expected for the year [33] Question: Update on Salar expansion in Chile - Management confirmed that the Salar is operating at capacity and that the Salar Yield Project is in commissioning to provide additional brine [35] Question: Triggers for re-accelerating CapEx investments - Management stated that pricing levels and trends will dictate the re-acceleration of investments, emphasizing the need for sustainable pricing [39] Question: Normalized inventory levels in the channel - Management noted that inventory levels at the upstream supply chain are normalized, but there is uncertainty regarding inventory at the battery and EV levels [41] Question: Where is the glut of inventory driving spot prices down? - Management clarified that the inventory issue is downstream, particularly at the battery and EV level, rather than at the upstream or conversion levels [45] Question: Impact of current prices on Energy Storage EBITDA guidance - Management advised that the provided scenarios should be used for interpolation, cautioning against a one-for-one correlation with lower price scenarios [71] Question: Return on invested capital expectations for CapEx in Energy Storage - Management aims for a return on invested capital that doubles the cost of capital at mid-cycle pricing [68] Question: Lepidolite production shut-ins in China - Management estimated that about 200,000 tons of capacity has come offline, with a portion attributed to lepidolite production [73]

Albemarle Q4 and FY 2023 Earnings Feb 15, 2024 9:00am ET Forward-Looking Statements This presentation, conference call and discussions that follow contain statements concerning our expectations, anticipations andbeliefs regarding the future, which constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on assumptions that we have made as of the date hereof and are subj ...

Albemarle (ALB) reported $2.36 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 10.1%. EPS of $1.85 for the same period compares to $8.62 a year ago.The reported revenue represents a surprise of +2.90% over the Zacks Consensus Estimate of $2.29 billion. With the consensus EPS estimate being $0.99, the EPS surprise was +86.87%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine t ...

Wednesday, February 14th, 2024As we saw during today’s pre-market activity, investors were in a mood to kiss and make up from their stormy session yesterday — the worst of the year among all major indices. It is Valentine’s Day, after all. The Dow bid up a chunk of the 500+ points it lost yesterday, +150 points or +0.39%, and it was the low performer of the day. The S&P 500 gained +0.96%, while the Nasdaq climbed +203 points, +1.30%. The Russell 2000, again marching to the beat of its own drummer, grew +2.3 ...