Albemarle Raises Guidance Based on Solid Lithium Performance in 1Q; Long-Term Outlook Remains Strong
Stronger-than-expected lithium results drove excellent growth for narrow-moat Albemarle in the first quarter. Adjusted EBITDA increased 11% year on year to $211 million, as strong growth in lithium and solid bromine more than offset declines in refining catalysts and increased corporate expenses. The market continues to underestimate the long-term potential for electric vehicle adoption, and Albemarle will benefit from the resulting higher lithium demand and pricing. We maintain our fair value e...Albemarle is a global developer, manufacturer and marketer of chemicals across a range of end markets including energy storage, petroleum refining, consumer electronics, construction, automotive, lubricants, pharmaceuticals, crop protection and custom chemistry services. The company's segments include: Lithium, which develops and manufactures a range of basic lithium compounds and lithium specialties and reagents; Bromine Specialties, which includes products used in fire safety solutions and other chemicals applications; and Catalysts, which includes Clean Fuels Technologies, fluidized catalytic cracking catalysts and additives, and performance catalyst solutions.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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