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Mar 31, 2024
Albemarle Q1 2024 Earnings Report
Albemarle reported first quarter results, demonstrating agility in dynamic market conditions by delivering solid volumetric growth, ramping new conversion facilities, and executing cost reduction and productivity improvements.
Key Takeaways
Albemarle's first quarter 2024 net sales reached $1.4 billion, driven by Energy Storage volume growth. Net income was $2 million, with adjusted diluted EPS at $0.26 and adjusted EBITDA at $291 million. The company is on track to deliver over $280 million in productivity benefits in 2024, with over $90 million achieved in Q1.
Net sales reached $1.4 billion, driven by Energy Storage volume growth.
Net income was $2 million, or ($0.08) per diluted share attributable to common shareholders.
Adjusted diluted EPS attributable to common shareholders was $0.26.
Adjusted EBITDA was $291 million.
Albemarle
Albemarle
Forward Guidance
The company maintains its prior full-year outlook, which is based on three lithium market price scenarios.