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Dec 31, 2022
Albemarle Q4 2022 Earnings Report
Albemarle's net sales increased ~3x and full-year net sales exceeded $7 billion.
Key Takeaways
Albemarle Corporation reported a significant increase in net sales for Q4 2022, nearly tripling compared to the prior-year quarter, driven by higher lithium prices and increased volumes. Net income also saw a substantial rise, reaching $1.1 billion, while adjusted EBITDA increased by 444%.
Net sales increased by 193% to $2.6 billion.
Net income reached $1.1 billion, or $9.60 per diluted share.
Adjusted diluted EPS increased by 753% to $8.62.
Adjusted EBITDA increased by 444% to $1.2 billion.
Revenue by Segment
Forward Guidance
Full-year 2023 guidance remains unchanged from the January update, and reflects strong growth with an increase in net sales of about 55% to 75% from 2022 primarily driven by market demand and continued favorable pricing for lithium. Adjusted EBITDA is expected to increase 20% - 45%, with adjusted diluted EPS up to 50% year-over-year. The company expects to maintain positive cash flow even while increasing capital expenditures to between $1.7 billion and $1.9 billion for 2023.
Positive Outlook
- Net sales are estimated to range between $11.3 to $12.9 billion.
- Adjusted EBITDA is estimated between $4.2 and $5.1 billion.
- Energy Storage volumes are projected to be up 30-40% in 2023 compared to 2022.
- Full year realized pricing is expected to be up 55-65% vs. prior year, assuming flat pricing to fourth quarter 2022.
- The company expects to maintain positive cash flow even while increasing capital expenditures to between $1.7 billion and $1.9 billion for 2023.
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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