Albemarle Q3 2020 Earnings Report
Key Takeaways
Albemarle's Q3 2020 net sales were $747 million, a 15% decrease year-over-year. Net income was $98 million, or $0.92 per diluted share, with adjusted diluted EPS of $1.09. Adjusted EBITDA was $216 million, a 15% decrease year-over-year but exceeding the high-end of the Q3 2020 outlook by 14%. The company expects approximately $80 million of sustainable cost savings to be achieved in 2020.
Net income of $98 million, or $0.92 per diluted share; Adjusted diluted EPS of $1.09.
Net sales of $747 million decreased by 15%, in-line with Q3 2020 outlook.
Adjusted EBITDA of $216 million decreased by 15%, exceeding the high-end of Q3 2020 outlook by 14%.
Approximately $80 million of sustainable cost savings to be achieved in 2020.
Albemarle
Albemarle
Albemarle Revenue by Segment
Forward Guidance
Albemarle anticipates that its full year 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