Albemarle Corporation
Albemarle Corporation Reports First Quarter 2024 Financial Results
Summary
Albemarle Corporation announced its financial results for the first quarter of 2024, reporting a significant decline in net sales and net income compared to the prior year, primarily due to lower lithium market pricing and reduced volumes. The company's net sales were $1.4 billion, down 47%, while net income attributable to Albemarle Corporation was $2 million, down 99.8%. Adjusted EBITDA also decreased to $291 million from $1.8 billion the previous year. The company reaffirmed its full-year outlook and announced plans to hold a teleconference on May 2, 2024, to discuss these results.
Profitelligence Alerts
Get alerts for ALB
Be first to know when Albemarle Corporation files with the SEC.
Filing Categories
Exhibits (1)
Advertisement
About Albemarle Corporation
Albemarle Corporation is a global leader in the chemical manufacturing industry, specializing in the production of lithium, bromine, and catalysts. As a significant player in the lithium market, Albemarle is integral to the rapidly growing electric vehicle (EV) sector, owing to lithium's essential role in battery production. The company's operations extend across diverse applications, from energy storage solutions to petroleum refining and the pharmaceuticals industry. By providing advanced materials and solutions, Albemarle plays a crucial role in enabling cleaner energy technologies and sustainable industrial practices. Headquartered in Charlotte, North Carolina, Albemarle operates on a global scale, with production facilities and research centers strategically located around the world. The company's commitment to innovation and sustainability ensures its continuous impact on emerging technologies, making it a crucial stakeholder in the transition towards more sustainable energy and advanced industrial processes. Albemarle's market significance is underscored by its strategic partnerships and global supply chains that support some of the most dynamic and essential sectors in today's economy.
Official SEC Documents
Advertisement