Acquisitions and Investments - Albemarle acquired the remaining 40% ownership of the Kemerton lithium hydroxide processing facility for approximately $380 million, with the transaction effective retroactively to April 1, 2022[60]. - The acquisition of Guangxi Tianyuan New Energy Materials Co., Ltd. was completed for approximately $200 million, with a lithium processing plant capable of producing up to 25,000 metric tons of lithium carbonate equivalent annually[61]. - The restructuring of the MARBL Lithium Joint Venture reduced Albemarle's ownership interest from 60% to 50% as of October 18, 2023, impacting future revenue recognition from this joint venture[548]. - The company completed the acquisition of Guangxi Tianyuan New Energy Materials Co., Ltd. for approximately $200 million in cash, which included a deferral of about $29 million[601]. - The fair value of the assets acquired in the Guangxi Tianyuan acquisition included property, plant, and equipment valued at $106.6 million and other intangibles valued at $16.3 million[602]. - The restructuring of the MARBL joint venture allowed the company to acquire 100% ownership of the Kemerton lithium hydroxide processing facility, with a cash payment of approximately $380 million[626]. Financial Performance - The company’s net sales for the year ended December 31, 2024, were $5,377.5 million, a decrease of 44.5% compared to $9,617.2 million in 2023[538]. - The gross profit for 2024 was $62.5 million, significantly down from $1,185.9 million in 2023, indicating a gross margin decline[538]. - The company reported a net loss of $1,135.5 million for 2024, compared to a net income of $1,670.5 million in 2023, reflecting a substantial downturn in profitability[538]. - Comprehensive loss income for 2024 was $1,348.9 million, contrasting with comprehensive income of $1,702.8 million in 2023[541]. - The company reported a net loss of $1,179,449,000 for the year ended December 31, 2023, compared to a net income of $1,573,476,000 in 2022[545]. - The company reported accumulated other comprehensive loss of $(742,062,000) as of December 31, 2024[545]. - For the year ended December 31, 2024, Albemarle Corporation reported a net loss of $1,135.5 million compared to a net income of $1,670.5 million in 2023, representing a significant decline in profitability[547]. Cash Flow and Liquidity - Cash flows from operating activities for 2024 were $702.1 million, down from $1,325.3 million in 2023, indicating a decrease of approximately 47%[547]. - The company’s cash and cash equivalents at the end of 2024 were $1,192.2 million, an increase of $302.3 million from $889.9 million at the end of 2023[547]. - The company issued 2,300 shares of mandatory convertible preferred stock in 2024, with a stated value of $1,000 each, totaling $2,235,105 thousand[543]. - The company received $2,236.8 million from the issuance of mandatory convertible preferred stock in 2024, which was a new financing activity not present in the previous year[547]. - The company repaid a net amount of $620.0 million of commercial paper notes during the year ended December 31, 2024, using proceeds from the issuance of mandatory convertible preferred stock[658]. Debt and Liabilities - As of December 31, 2024, Albemarle had variable interest rate borrowings of $27.5 million, representing 1% of total outstanding debt, with an average interest rate of 0.33%[514]. - Long-term debt decreased from $3,541,002 thousand in 2023 to $3,118,142 thousand in 2024, a decline of approximately 12.0%[543]. - The total long-term debt maturities for 2025 are projected at $398.5 million, with significant amounts due in subsequent years[647]. - The net pension liability decreased to $7.674 billion in 2024 from $8.771 billion in 2023, reflecting a reduction of approximately 12.5%[665]. - Total noncurrent liabilities increased from $769.100 million in 2023 to $819.204 million in 2024[688]. Environmental and Sustainability Goals - Albemarle aims to achieve net-zero carbon emissions by 2050, with a target to reduce scope 1 and 2 carbon intensity by 35% by 2030 from a 2019 baseline[55]. - The company plans to reduce freshwater usage intensity by 25% by 2030 in areas of high water risk, such as Chile and Jordan[56]. - The company is committed to responsible management of natural resources and aims to maximize the recovery of extracted minerals while preserving local environments[58]. Research and Development - Research and development expenses increased slightly to $86.7 million in 2024 from $85.7 million in 2023, showing continued investment in innovation[538]. - Research and development expenses are primarily personnel-related and are expensed as incurred, supporting contract research and custom manufacturing businesses[571]. Inventory and Assets - Total assets decreased from $18,270,652 thousand in 2023 to $16,609,649 thousand in 2024, a decline of approximately 9.1%[543]. - Current assets fell from $5,216,919 thousand in 2023 to $3,842,262 thousand in 2024, representing a decrease of about 26.4%[543]. - Inventories decreased from $2,161,287 thousand in 2023 to $1,502,531 thousand in 2024, a reduction of about 30.5%[543]. - Finished goods inventory decreased from $1,624.9 million in 2023 to $912.7 million in 2024, a reduction of approximately 44%[611]. - Total inventory value dropped from $2,161.3 million in 2023 to $1,502.5 million in 2024, reflecting a decline of about 30%[611]. Compliance and Legal Matters - The company finalized agreements to resolve matters with the DOJ and SEC in September 2023[696]. - A total of $218.5 million was paid in aggregate fines, disgorgement, and prejudgment interest to the DOJ and SEC[696]. - The resolution does not include a compliance monitorship, but the company has agreed to ongoing compliance reporting obligations[697]. - The conduct related to the resolution occurred prior to 2018[696]. - The company voluntarily self-reported potential violations of the U.S. Foreign Corrupt Practices Act[695].

Financial Performance - Fourth quarter net sales were $1.2 billion, a decline of 47.7% year-over-year, primarily due to lower pricing and volumes in Energy Storage[4] - Full year net sales totaled $5.4 billion, with Energy Storage sales volumes increasing by 26%; however, the company reported a net loss of $1.2 billion for the year[4] - Net sales for Q4 2024 were $1,231.7 million, a decrease from $2,356.2 million in Q4 2023, representing a decline of 47.8% year-over-year[30] - Total net sales for the year ended December 31, 2024, were $5,377,526, a decrease from $9,617,203 in 2023, representing a decline of approximately 44%[34] - Energy Storage segment net sales for the year ended December 31, 2024, were $7,078,998, compared to $3,015,121 in 2023, reflecting an increase of approximately 134%[34] - Specialties segment net sales decreased to $1,325,983 in 2024 from $1,482,425 in 2023, a decline of about 11%[34] - Ketjen segment net sales slightly decreased to $1,036,422 in 2024 from $1,055,780 in 2023, a decrease of approximately 2%[34] Profitability and Loss - Adjusted EBITDA for the fourth quarter was $251 million, reflecting year-over-year increases across all business segments, with Energy Storage up $290 million[4] - Adjusted EBITDA for the year ended December 31, 2024, was $1,139,778, down from $3,545,988 in 2023, indicating a decrease of about 68%[34] - Gross profit for Q4 2024 was $138.2 million, compared to a loss of $704.1 million in Q4 2023, indicating a significant recovery[30] - The company reported a net income attributable to Albemarle Corporation of $75.3 million for Q4 2024, a recovery from a loss of $617.7 million in Q4 2023[30] - Basic earnings per share attributable to common shareholders for Q4 2024 was $0.29, compared to a loss of $5.26 in Q4 2023[30] - Adjusted net loss attributable to common shareholders for the three months ended December 31, 2024, was $(127,899) thousand, compared to $(609,525) thousand in 2023[39] Cash Flow and Liquidity - As of December 31, 2024, Albemarle had estimated liquidity of approximately $2.8 billion, including $1.2 billion in cash and equivalents[24] - Cash and cash equivalents increased to $1.2 billion in 2024, up from $889.9 million in 2023, showing a growth of 34.2%[31] - Net cash provided by operating activities for the year was $702,068, down from $1,325,321 in 2023, a decline of about 47%[33] - Net cash used in investing activities was $1,574,438 for the year, compared to $2,781,160 in 2023, a decrease of approximately 43%[33] - Cash and cash equivalents at the end of the period were $889,900, compared to $1,192,230 in 2023, a decrease of about 25%[33] Expenses and Liabilities - Research and development expenses for the year ended December 31, 2024, were $86.7 million, slightly up from $85.7 million in 2023[30] - Total current liabilities decreased to $1.97 billion in 2024, down from $3.56 billion in 2023, a reduction of 44.5%[31] - The company’s long-term debt decreased to $3.12 billion in 2024 from $3.54 billion in 2023, a decline of 11.9%[31] - Selling, general and administrative expenses included $2.3 million for facility closure expenses in Germany and $1.9 million for environmental reserves[49] Taxation - The effective income tax rate for Q4 2024 was 13.8%, compared to (12.9)% in the same period of 2023, influenced by changes in geographic income mix[10] - For the year ended December 31, 2024, the company reported a net loss before income taxes of $1,763.8 million, with an effective income tax rate of (4.9)%[49] - Discrete net tax benefits for the year ended December 31, 2024 amounted to $117.5 million, or $1.00 per share[47] - The company experienced a significant increase in net tax benefits from $1.3 million in 2023 to $111.4 million in 2024[47] Future Outlook - The company expects 2025 capital expenditures to be reduced by over 50% to a range of $700 million to $800 million, down from $1.7 billion in 2024[21] - The company anticipates Energy Storage volumes to increase by 0% to 10% in 2025 compared to 2024, depending on market conditions[14] - The company anticipates continued fluctuations in lithium market prices and plans to adjust capital expenditures accordingly for future projects[29]

Core Insights - Albemarle Corporation reported significant financial results for Q4 and full year 2024, with net sales declining by 48% year-over-year to $1.2 billion, primarily due to lower pricing and volumes in Energy Storage [4][6] - The company achieved a net income of $75 million for Q4 2024, a substantial increase from a loss of $618 million in Q4 2023, driven by lower costs and tax benefits [6][9] - Adjusted EBITDA for Q4 2024 was $251 million, reflecting a year-over-year increase of $386 million, attributed to favorable volume growth and productivity improvements [6][9] Financial Performance - Q4 2024 net sales were $1,231.7 million, down from $2,356.2 million in Q4 2023, marking a 47.7% decline [4] - Net income attributable to Albemarle Corporation for Q4 2024 was $75.3 million, compared to a loss of $617.7 million in Q4 2023, representing a 112.2% increase [4][6] - Adjusted EBITDA for Q4 2024 was $250.7 million, up from a loss of $134.9 million in Q4 2023, indicating a 285.8% improvement [4][6] Segment Performance - Energy Storage segment net sales for Q4 2024 were $616.8 million, a decrease of 63.2% from $1,675.1 million in Q4 2023, primarily due to lower pricing and volumes [8][11] - Specialties segment net sales decreased by 2% to $332.9 million, while adjusted EBITDA increased by 144.2% to $72.9 million, driven by productivity benefits [12] - Ketjen segment net sales fell by 17.4% to $281.9 million, but adjusted EBITDA rose by 14.4% to $35.8 million, supported by a favorable product mix [13] Cash Flow and Capital Expenditures - Full year cash from operations for 2024 was $702 million, representing over 60% operating cash flow conversion, primarily driven by working capital management [9] - Capital expenditures for 2024 were $1.7 billion, down by $463 million compared to the previous year, reflecting a strategic reduction in spending [9][23] - The company plans to further reduce capital expenditures in 2025 to a range of $700 million to $800 million, more than 50% lower than 2024 [9][22] 2025 Outlook - Albemarle anticipates a range of net sales for 2025 between $4.9 billion and $5.2 billion, with adjusted EBITDA expected to be between $0.8 billion and $1.0 billion [16][18] - The company projects Energy Storage volumes to increase by 0% to 10% in 2025 compared to 2024, depending on market conditions [14] - The average lithium market price is expected to range from $12 to $15 per kg LCE in H1 2024, down from approximately $20 in Q4 2023 [16][18] Balance Sheet and Liquidity - As of December 31, 2024, Albemarle had estimated liquidity of approximately $2.8 billion, including $1.2 billion in cash and equivalents [25] - Total debt stood at $3.5 billion, with a net debt to adjusted EBITDA ratio of approximately 2.6 times [25]

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The upcoming report from Albemarle (ALB) is expected to reveal quarterly loss of $0.41 per share, indicating a decline of 122.2% compared to the year-ago period. Analysts forecast revenues of $1.38 billion, representing a decrease of 41.6% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 18.2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Ahead of a company's ...

Albemarle Corporation (ALB) is slated to release fourth-quarter 2024 results after the closing bell on Feb. 12.See the Zacks Earnings Calendar to stay ahead of market-making news.The company missed the Zacks Consensus Estimate for earnings in three of the trailing four quarters while beating once. In this timeframe, it delivered a negative earnings surprise of 107.8%, on average. It posted a negative earnings surprise of 400% in the last reported quarter. ALB is likely to have benefited from healthy lithium ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Albemarle (ALB) reports results for the quarter ended December 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on February 12. On ...

In the latest market close, Albemarle (ALB) reached $86.28, with a +0.44% movement compared to the previous day. The stock outpaced the S&P 500's daily loss of 0.47%. On the other hand, the Dow registered a loss of 0.31%, and the technology-centric Nasdaq decreased by 0.51%.Prior to today's trading, shares of the specialty chemicals company had lost 0.21% over the past month. This has lagged the Basic Materials sector's gain of 1.28% and the S&P 500's gain of 1.67% in that time.Investors will be eagerly wat ...

Albemarle (ALB) ended the recent trading session at $94.32, demonstrating a -0.87% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq lost 0.89%.Prior to today's trading, shares of the specialty chemicals company had gained 5.09% over the past month. This has outpaced the Basic Materials sector's loss of 5.13% and the S&P 500's loss of 1.56% in that time.Market participants will be closely following t ...

Earnings Announcement - Albemarle Corporation will release its fourth-quarter 2024 earnings after the NYSE closes on Wednesday, February 12, 2025 [1] Company Overview - Albemarle Corporation is a global leader in providing essential elements for mobility, energy, connectivity, and health [2] - The company specializes in transforming essential resources into critical ingredients for these sectors [2] - Albemarle is known for its reliable and high-quality global supply of lithium and bromine, which enables advanced solutions for customers [2] Investor Information - Albemarle regularly posts information on its website, including notifications of events, news, financial performance, investor presentations, webcasts, non-GAAP reconciliations, and SEC filings [3] - The company provides contact information for investor relations and media inquiries [3] Earnings Call Details - Albemarle will hold a conference call to discuss its fourth-quarter 2024 results on Thursday, February 13, 2025, at 8 a.m. ET [4] - The call can be accessed via webcast or direct dial, with details provided for U.S., Canada, and international participants [4] - A webcast replay will be available on Albemarle's website following the conclusion of the event [5]