trending Market Intelligence /marketintelligence/en/news-insights/trending/vvt6zl9tdm2l0_jouagbsq2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Albemarle Q1 profit soars 162% YOY on higher lithium segment income

COVID-19 Mining Impacts — Mining Projects With At-Risk Production

Mining Insights Newsletter June 2020

A Decade of Underperformance for Gold Discoveries

State of the Market: Mining Q1-2020

Albemarle Q1 profit soars 162% YOY on higher lithium segment income

Albemarle Corp. first-quarter net income surged 162% year over year to US$131.8 million, the company said May 9.

The company attributed the improvement mainly to growth in its lithium segment's earnings, and a loss on early extinguishment of debt of 34 cents per diluted share in the first quarter of 2017.

Albemarle also recorded a discrete tax benefit of US$2.8 million to adjust amounts previously recorded for a one-time transition tax and a discrete tax benefit of US$3.7 million for other adjustments.

Net sales rose 14% to US$821.6 million, driven by favorable impact of higher sales volumes primarily in its lithium segment and favorable price and currency exchange impacts across all three segments. Adjusted EBITDA, meanwhile, jumped 17.7% to US$248.7 million.

The company's lithium segment posted a 37.8% year-over-year increase in net sales to US$298.0 million, driven primarily by favorable pricing impacts, increased sales volumes and US$10.8 million of favorable currency exchange impacts.

Net sales for bromine grew 2.9% to US$225.6 million on the back of favorable pricing impacts and US$4.3 million of favorable currency exchange impacts, partially offset by lower sales volumes. Meanwhile, net sales for the catalysts segment rose 2.8% to US$260.7 million in the quarter.

Albemarle expects its net sales to range between US$3.2 billion and US$3.4 billion in 2018, up between 4% and 11% over the 2017 sales, while adjusted EBITDA is expected to reach between US$955 million and US$1.01 billion, an 8% to 14% increase on a yearly basis.

The company lifted its full-year EPS guidance to between US$5.10 and US$5.40, reflecting an 11% to 18% increase over the 2017 results.