Albemarle Q1 net sales up 129% to $2.6B; cuts FY23 guidance on lithium pricing

ALBEMARLE CORP

2023-Q1 EPS reported $10.51 revenue$2,580,252,000

Q1 net income $1.2B ($10.51 diluted EPS); adjusted diluted EPS $10.32, up 334% YoY.
Net sales $2.6B (+129%); adjusted EBITDA $1.6B (+269%).
FY23 guidance lowered: net sales now $9.8-$11.5B, adjusted EPS $20.75-$25.75.
Signed definitive agreements to restructure MARBL Lithium JV; MinRes to invest in China assets.
Final investment decision for Kemerton trains III & IV; selected Richburg, SC for U.S. lithium facility.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ALBEMARLE CORP reported the first quarter ended March 31, 2023 results: revenue $2.6 billion, net income $1.2 billion, or $10.51 per diluted share, EPS $10.32. Guidance lowered.

Period: the first quarter ended March 31, 2023
Revenue: $2.6 billion
Net income: $1.2 billion, or $10.51 per diluted share
EPS: $10.32
Guidance: lowered
Result: reported results

Exact text from the filing

quarter ended March 31, 2023. First-Quarter 2023 and Recent Highlights (Unless otherwise stated, all percentage changes represent year-over-year comparisons) • Net sales of $2.6 billion, an increase of 129% • Net income of $1.2 billion, or $10.51 per diluted share, an increase of 389% • Adjusted diluted EPS of $10.32, an increase of 334% • Adjusted EBITDA of

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Source: SEC EDGAR

accession 0000915913-23-000113

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