Albemarle Q2 net sales +60% to $2.4B; adjusted EPS $7.33 vs $3.46 YoY

ALBEMARLE CORP

2023-Q2 EPS reported $16.03 revenue$4,950,442,000

Net sales $2.4B (+60% YoY); net income $650M ($5.52 diluted EPS).
Adjusted diluted EPS $7.33 (+112% YoY); adjusted EBITDA $1.0B (+69%).
Ford agreement to supply >100k metric tons lithium hydroxide from 2026-2030.
2023 guidance raised: net sales $10.4-$11.5B, adjusted EBITDA $3.8-$4.4B.
Capex raised to $1.9-$2.1B; net cash from ops lowered to $1.2-$1.8B due to DOJ/SEC settlements.

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 0.9

ALBEMARLE CORP reported the second quarter ended June 30, 2023 results: revenue $2.4 billion, net income $650.0 million, EPS $5.52 per diluted share.

Period: the second quarter ended June 30, 2023
Revenue: $2.4 billion
Net income: $650.0 million
EPS: $5.52 per diluted share
Result: reported results

Exact text from the filing

Net sales of $2.4 billion, an increase of 60% • Net income of $650.0 million, or $5.52 per diluted share, an increase of 60%

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ALBEMARLE CORP reported full-year 2023 results: revenue $10.4 - $11.5 billion, EPS $25.00 - $29.50. Guidance raised.

Period: full-year 2023
Revenue: $10.4 - $11.5 billion
EPS: $25.00 - $29.50
Guidance: raised
Result: guidance update

Exact text from the filing

FY 2023 Guidance as of August 2, 2023 Net sales $9.8 - $11.5 billion $10.4 - $11.5 billion Adjusted EBITDA (a) $3.3 - $4.0 billion $3.8 - $4.4 billion Adjusted EBITDA Margin (a) 34% - 35% 37% - 38% Adjusted Diluted EPS (a) $20.75 - $25.75 $25.00 - $29.50 Net Cash from Operations $1.7 - $2.3 billion $1.2 - $1.8 billion Capital Expenditures $1.7 - $1.9 billion $1.9 - $2.1 billion

View on SEC.gov

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Source: SEC EDGAR

accession 0000915913-23-000164

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