Albemarle Q1 2020 Earnings Report
Key Takeaways
Albemarle's first quarter 2020 results showed net sales of $739 million and a net income of $107 million, or $1.01 per diluted share. Adjusted diluted EPS was $1.00. The company is implementing cost-saving measures and managing cash flow due to the uncertain economic impact of the global pandemic.
Net sales of $739 million; Net income of $107 million, or $1.01 per diluted share; Adjusted diluted EPS of $1.00
Adjusted EBITDA of $196 million decreased by ~13% year-over-year, but above previously communicated guidance
Taking action to bolster our balance sheet to enhance financial flexibility; drew $250 million on our revolver, repaid other short-term debt
Accelerating our $100 million cost savings initiative; we now expect to realize between $50 and $70 million of these savings in 2020
Albemarle
Albemarle
Albemarle Revenue by Segment
Forward Guidance
Albemarle anticipates that its Q2 2020 performance will be lower year-over-year based on reduced global economic activity due to the global pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income