Higher EV adoption should drive strong profit growth for Albemarle's low-cost lithium operations.
Albemarle reported strong second-quarter earnings as increased profits across each segment drove adjusted EBITDA 24% higher year on year to $259 million. In the company's earnings release, management raised full-year guidance and now forecasts an adjusted EBITDA range of $990 million-$1,020 million up from a range of $955 million-$1,005 million. Having updated our model, we raise our fair value estimate to $125 per share from $120 due to our increased near-term profit outlook and time value of m...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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