secwatch.observer — SEC 8-K summary
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Issuer:     ALBEMARLE CORP (ALB)
CIK:        0000915913
Form:       8-K
Filed at:   2024-02-14T23:59:59+00:00
Accession:  0000915913-24-000014
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Albemarle posts Q4 loss $618M on LCM charge; FY23 sales record $9.6B, 2024 outlook cautious
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- Q4 net loss $617.7M (($5.26)/share) vs. profit $1.13B ($9.60) YoY; includes $604M LCM charge and $223M China tax valuation allowance.
- Full-year net sales $9.6B (+31% YoY); net income $1.6B ($13.36 diluted EPS); adjusted EBITDA $2.8B (or $3.4B ex-LCM).
- Energy Storage Q4 net sales $1.7B (-15% YoY) on lower pricing (-50%) partially offset by +35% volume.
- 2024 guidance: capex $1.6-1.8B (down from ~$2.1B); Energy Storage adjusted EBITDA $0.7-2.3B depending on lithium price scenarios ($15-$25/kg LCE).
- Announced cost/capex/working capital actions expected to unlock >$750M cash flow.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/915913/000091591324000014/0000915913-24-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/915913/000091591324000014/alb-20240214.htm
  HTML page:      https://secwatch.observer/filing/0000915913-24-000014

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