Albemarle Q3 net sales up 10% but slashes FY2023 guidance on lower lithium pricing

ALBEMARLE CORP

2023-Q3 EPS reported $18.60 revenue$7,261,038,000

Q3 net sales $2.3B (+10% YoY); net income $302.5M ($2.57 EPS); adjusted diluted EPS $2.74.
FY2023 net sales guidance cut to $9.5-$9.8B from $10.4-$11.5B; adjusted EPS cut to $21.50-$23.50.
Adjusted EBITDA guidance reduced to $3.2-$3.4B from $3.8-$4.4B; net cash from ops cut to $600-$800M.
On track for >$170M productivity benefits in 2023; capex unchanged $1.9-$2.1B.
Signed Caterpillar battery circularity partnership; received $90M DoD award for Kings Mountain mine restart.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ALBEMARLE CORP reported the third quarter ended September 30, 2023 results: revenue $2.3 billion, net income $302.5 million, or $2.57 per diluted share. Guidance reaffirmed.

Period: the third quarter ended September 30, 2023
Revenue: $2.3 billion
Net income: $302.5 million, or $2.57 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

quarter ended September 30, 2023. Third-Quarter 2023 and Recent Highlights (Unless otherwise stated, all percentage changes represent year-over-year comparisons) • Net sales of $2.3 billion, an increase of 10% • Net income of $302.5 million, or $2.57 per diluted share • Adjusted diluted EPS of $2.74 • Adjusted EBITDA of $453.3 million • Signed agreements with

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Source: SEC EDGAR

accession 0000915913-23-000178

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