Financial Performance - Net sales for Q2 2024 were $1,430,385, a decrease of 40% from $2,370,190 in Q2 2023, primarily due to lower lithium carbonate and hydroxide market pricing in Energy Storage[151]. - Total net sales decreased by 40% to $1,430,385 thousand in Q2 2024 from $2,370,190 thousand in Q2 2023[165]. - Year-to-date net sales for 2024 were $2,791,121 thousand, down 44% from $4,950,442 thousand in 2023, mainly due to lower lithium carbonate and hydroxide pricing[174]. - Net income attributable to Albemarle Corporation for YTD 2024 was $(185,750) thousand, a decrease of $(2,074,373) thousand or NM compared to YTD 2023[183]. - Energy Storage segment net sales dropped by 53% to $830,110 thousand, primarily due to unfavorable pricing impacts[169]. - Specialties segment net sales decreased by 10% to $334,600 thousand, reflecting a decline in demand[170]. - Ketjen segment net sales increased by 13% to $265,675 thousand, driven by higher sales volume across all divisions[171]. - Adjusted EBITDA fell by 69% to $386,360 thousand in Q2 2024 compared to $1,266,242 thousand in Q2 2023[165]. - Adjusted EBITDA for the Energy Storage segment fell by 82% to $480,975 thousand from $2,732,772 thousand in YTD 2023[188]. - Specialties segment net sales decreased by 18% to $650,665 thousand, with adjusted EBITDA down 55% to $99,356 thousand[188]. - Ketjen segment net sales increased by 12% to $509,448 thousand, with adjusted EBITDA rising by 4% to $59,815 thousand[190]. Cash Flow and Liquidity - The company recorded a cash flow from operations of $362.9 million during Q2 2024, an increase of 392% from the prior year quarter[142]. - Cash provided by operations in the first six months of 2024 was $460.8 million, down from $794.7 million in the same period of 2023[194]. - Cash and cash equivalents increased by $940.3 million to $1.8 billion at June 30, 2024, compared to $889.9 million at December 31, 2023[194]. - The company anticipates that cash on hand and cash from operations will be sufficient to meet operating expenses and fund capital expenditures for the foreseeable future[193]. - Cash and cash equivalents totaled $1.8 billion at June 30, 2024, with $1.1 billion held by foreign subsidiaries[229]. - The company repaid a net amount of $620.0 million of commercial paper notes during the six months ended June 30, 2024, using proceeds from the issuance of mandatory convertible preferred stock[209]. Expenses and Cost Management - Selling, general and administrative expenses decreased by $228,122 thousand or (57)% to $168,948 thousand in Q2 2024, with a percentage of net sales at 11.8% compared to 16.8% in Q2 2023[153]. - Selling, general and administrative expenses decreased by 37% to $346,660 thousand year-to-date 2024, partly due to a prior legal accrual in 2023[176]. - Research and development expenses were $20,770 thousand in Q2 2024, a decrease of $649 thousand or (3)% from Q2 2023[155]. - Research and development expenses increased by 6% to $44,302 thousand year-to-date 2024, representing 1.6% of net sales[178]. - The company is taking proactive actions to optimize its cost structure and strengthen financial flexibility, including suspending construction of certain projects[148]. - Capital project assets write-off amounted to $292,315 thousand in Q2 2024, reflecting the suspension of certain projects[154]. Investments and Capital Expenditures - Capital expenditures for the six-month period ended June 30, 2024, were $1.0 billion, with expectations to reach $1.7 billion to $1.8 billion in 2024, primarily for Energy Storage growth and capacity increases[195]. - The company plans to invest in a battery-grade lithium conversion plant in Meishan, targeting 50,000 metric tonnes of LCE per year, with first commercial sales achieved in Q2 2024[223]. - The company received a nearly $150 million grant from the U.S. Department of Energy to support the construction of a lithium concentrator facility in North Carolina, expected to produce approximately 420,000 tons of spodumene concentrate annually[224]. Debt and Financial Position - The non-current portion of long-term debt was $3.52 billion at June 30, 2024, compared to $3.54 billion at December 31, 2023[212]. - Long-term debt remained stable at approximately $2.25 billion as of June 30, 2024[238]. - Current liabilities decreased to $1.72 billion as of June 30, 2024, from $2.37 billion at the end of 2023[238]. - Current assets increased to $1.4 billion as of June 30, 2024, from $872.6 million as of December 31, 2023[250]. - The liability for uncertain tax positions increased to $226.3 million as of June 30, 2024, from $220.6 million at the end of 2023[216]. Other Financial Metrics - Gross loss profit for Q2 2024 was $(10,578) thousand, a decrease of $569,065 thousand or (102)% compared to Q2 2023[152]. - Other income, net decreased by $20,288 thousand or (38)% to $33,666 thousand in Q2 2024, impacted by losses related to equity securities[157]. - Other comprehensive loss, net of tax was $(40,134) thousand in Q2 2024, an increase of $35,525 thousand or 771% compared to Q2 2023, driven by unfavorable foreign currency translation[161]. - Other comprehensive loss for YTD 2024 was $(109,014) thousand, a change of $(151,722) thousand from a gain of $42,708 thousand in YTD 2023[184]. - Interest and financing expenses increased by $9,610 thousand or 38% to $(35,187) thousand in Q2 2024 due to lower capitalized interest and increased amortization of debt discounts[156]. - The company realized a loss of $33.7 million from the sale of equity securities of a public company for proceeds of approximately $81.5 million in the six months ended June 30, 2024[196].

Exhibit 99.1 Contact: Meredith Bandy 1.980.999.5168 Albemarle Reports Second Quarter 2024 Results CHARLOTTE, N.C. – July 31, 2024 - Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced its results for the second quarter ended June 30, 2024. Second-Quarter 2024 and Recent Highlights (Unless otherwise stated, all percentage changes represent year-over-year comparisons) "Our operational mindset continued to serve us we ...

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 ...

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].

Summary of Albemarle Corporation Conference Call Company Overview - **Company**: Albemarle Corporation (NYSE: ALB) - **Industry**: Lithium production, bromine, and catalyst businesses Key Points and Arguments Lithium Market Dynamics - **Price Rebound**: The CEO indicated that lithium prices are expected to rebound based on supply-demand balance and anticipated growth in demand. Current pricing is affecting supply volumes, which are coming out slower than expected [3][4][5] - **Supply Cuts**: There is a consensus that more production needs to come out of the market to stabilize prices. The CEO mentioned that higher-cost supply in China is a significant factor [5][6] - **Cost Curve**: The cost curve for lithium production is complex, with many mines operating between $10 and $20. As prices drop, higher-cost producers are expected to exit the market [7][8] Operational Challenges - **Data Reliability**: The CEO expressed concerns about the reliability of industry data, emphasizing the need for better information to make operational decisions [10][11] - **Inventory Levels**: There is a significant amount of inventory in the battery supply chain, which is impacting restocking of lithium products. The company anticipates EV growth in the mid-30s and lithium growth in the mid-20s, with inventory accounting for the difference [14][13] Strategic Decisions - **CapEx Management**: The company is focusing on efficient capital spending, particularly on projects nearing completion. The CEO highlighted the importance of maintaining a balance sheet while pursuing growth opportunities [27][28][29] - **Operational Efficiency**: Albemarle aims to improve operational efficiency, targeting a reduction of $300 million in costs, primarily in conversion operations [32] Market Sentiment and Policy - **U.S. EV Market**: The CEO noted that the U.S. EV market is lagging behind China, and current policies like the IRA are not sufficient to incentivize necessary investments [22][24][26] - **Future of Lithium Supply**: The CEO discussed the potential for changes in feedstock strategies, including the upgrading of lithium carbonate and the shipping of lithium sulfate, but noted that these strategies are still in early discussions [43][44] Non-Core Asset Management - **Asset Sales**: The company is considering the sale of non-core assets, particularly in the catalyst business, to strengthen its balance sheet. The CEO mentioned that they are managing these assets as if they were a private equity firm [45][46] Investor Relations - **Valuation Concerns**: The CEO acknowledged that investors are currently valuing lithium producers as mining companies rather than specialty chemicals producers, which is not reflective of the company's capabilities [55][56] - **Underappreciated Aspects**: The CEO believes that investors may not fully appreciate the company's resource breadth, cost position, and technical capabilities in building conversion assets [58] Additional Important Insights - **Joint Ventures**: The complexities of managing joint ventures, particularly with partners in Greenbushes and Talison, were highlighted as a challenge in aligning production and capital expenditures [34][36] - **Future Projects**: The CEO indicated that future projects would depend heavily on market conditions and pricing recovery, with a cautious approach to new investments [50][52] This summary encapsulates the key discussions and insights from the Albemarle Corporation conference call, focusing on the lithium market, operational strategies, and investor relations.

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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________ FORM 10-K ________________________________________ ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 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 001-12658 ALBEMARLE CORPORATION (Exact name of registrant as speci ...

Albemarle Corporation (NYSE:ALB) Q3 2023 Earnings Conference Call November 2, 2023 9:00 AM ET Company Participants Meredith Bandy - Vice President, Investor Relations Kent Masters - Chief Executive Officer Scott Tozier - Chief Financial Officer Netha Johnson - President, Specialties Eric Norris - President, Energy Storage Conference Call Participants Patrick Cunningham - Citi Josh Spector - UBS Joel Jackson - BMO Capital Markets Michael Sison - Wells Fargo Securities Jeffrey Zekauskas - JPMorgan Aleksey Yef ...