Albemarle Should Benefit From Low-Cost Lithium Investment as EV Adoption Increases
Albemarle reported decent first-quarter results that were generally in line with our expectations. Adjusted EBITDA fell 9% year on year to $226 million, as weather-related issues at the company's carbonate production facility in Chile resulted in lower lithium production and higher costs. However, management reaffirmed full-year adjusted EPS guidance to a range of $6.10 to $6.50, as the company expects to make up the lower volumes later in the year and forecasts stable prices. We view the guidan...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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