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Mar 31, 2023
Albemarle Q1 2023 Earnings Report
Albemarle reported a net sales increase of 129% for the first quarter of 2023.
Key Takeaways
Albemarle Corporation reported a strong first quarter in 2023, with net sales increasing by 129% to $2.6 billion and net income increasing by 389% to $1.2 billion. Adjusted diluted EPS increased by 334% to $10.32, and adjusted EBITDA increased by 269% to $1.6 billion. The company has adjusted its 2023 guidance to reflect current lithium market pricing.
Net sales increased by 129% to $2.6 billion.
Net income increased by 389% to $1.2 billion, or $10.51 per diluted share.
Adjusted diluted EPS increased by 334% to $10.32.
Adjusted EBITDA increased by 269% to $1.6 billion.
Albemarle
Albemarle
Albemarle Revenue by Segment
Revenue by Segment
Energy Storage Revenue
CapyFin.comSpecialties Revenue
CapyFin.comKetjen Revenue
CapyFin.com Forward Guidance
The company is revising full-year 2023 outlook to reflect current lithium market pricing. Net sales are expected to increase 35% to 55% over prior year, primarily driven by a continued global shift to electric vehicles. The year-over-year change in Adjusted EBITDA is expected to be in the range of (5%) to 15% as higher net sales are partially offset by timing impacts of higher priced inventories. The company expects to maintain positive free cash flow.
Revenue & Expenses
Visualization of income flow from segment revenue to net income