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Sep 30, 2022
Albemarle Q3 2022 Earnings Report
Albemarle's financial performance was marked by a significant increase in net sales and adjusted EBITDA, driven by strong demand for lithium-ion batteries.
Key Takeaways
Albemarle Corporation reported a net sales increase of 152% for the third quarter of 2022, reaching $2.1 billion. The company's adjusted EBITDA increased by 447% to $1.2 billion, and net income attributable to Albemarle Corporation was $897.2 million, or $7.61 per diluted share.
Net sales increased by 152% to $2.1 billion.
Net income was $897.2 million, or $7.61 per diluted share.
Adjusted EBITDA increased by 447% to $1.2 billion.
The company completed the acquisition of the Qinzhou lithium conversion plant in Guangxi China.
Albemarle
Albemarle
Albemarle Revenue by Segment
Revenue by Segment
Energy Storage Revenue
CapyFin.comSpecialties Revenue
CapyFin.comKetjen Revenue
CapyFin.com Forward Guidance
Full-year 2022 outlook remains strong, with net sales expected to be more than double and adjusted EBITDA expected to be nearly four times 2021 results.
Positive Outlook
- Net sales expected to be $7.1 - $7.4 billion
- Adjusted EBITDA expected to be $3.3 - $3.5 billion
- Adjusted EBITDA Margin 46% - 47%
- Adjusted Diluted EPS $19.75 - $21.75
- Net Cash from Operations $1.45 - $1.65 billion
Challenges Ahead
- Bromine-related weakness in key end markets, including consumer and industrial electronics and building and construction.
- Catalysts segment continues to experience natural gas pricing pressure related to the war in Ukraine and rising raw material costs.
- Potential downside of volume shortfalls (e.g., delays in commissioning and production ramp up at expansion sites and qualifications for tolling) for the remainder of the year
- Emerging softness in some end markets such as consumer and industrial electronics and building and construction for Bromine
- Catalysts segment outlook for the full-year 2022 adjusted EBITDA expected to be down 45-65% year over year
Revenue & Expenses
Visualization of income flow from segment revenue to net income