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Sep 30, 2021
Albemarle Q3 2021 Earnings Report
Albemarle reported an 11% sales growth and increased guidance.
Key Takeaways
Albemarle Corporation announced its Q3 2021 results, featuring a net sales increase of 11% to $830.6 million. Despite supply chain challenges and increased raw material costs, the company delivered solid revenue and adjusted EBITDA growth. The company also increased its full-year 2021 guidance based on strong third-quarter performance.
Net sales increased by 11% to $830.6 million.
Net loss of ($392.8) million, or ($3.36) per diluted share, which includes a $4.29 per share charge for a recent arbitration decision.
Adjusted diluted EPS of $1.05, a decrease of 4%.
Adjusted EBITDA of $217.6 million, an increase of 1%.
Revenue by Segment
Forward Guidance
Albemarle’s improved outlook for the full-year 2021 reflects a strong third quarter performance and assumes continued global economic recovery as well as a modest improvement in operating performance compared to the full-year 2020.
Positive Outlook
- Full-year 2021 net sales guidance was revised higher which reflects higher volumes in its Lithium business and stronger pricing in its Bromine businesses.
- Adjusted EBITDA guidance improved due to higher net sales
- Adjusted EBITDA guidance improved due to lower corporate costs
- Adjusted EBITDA guidance improved due to higher-than-expected Catalysts joint venture income.
Challenges Ahead
- Capital expenditures were revised higher due to accelerated investments in growth
- Capital expenditures were revised higher due to tight labor markets
- Capital expenditures were revised higher due to COVID-related travel restrictions in Western Australia.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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