Albemarle Q2 sales $1.48B (+91% YoY); raises FY2022 guidance sharply

ALBEMARLE CORP

2022-Q2 EPS reported $5.61 revenue$2,607,321,000

Net income $406.8M ($3.46 GAAP EPS); adjusted diluted EPS $3.45, up 288% YoY.
Lithium segment sales $891.5M (+178%), adjusted EBITDA $495.2M (+353%) on higher pricing and volumes.
FY2022 guidance raised: net sales $7.1-7.5B, adjusted EBITDA $3.2-3.5B, adjusted EPS $19.25-22.25.
Kemerton I lithium plant in Australia achieved first product in July 2022.
Catalysts segment adjusted EBITDA down 53.7% due to cost pressures; strategic review ongoing.

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