Lithium Continues to Drive Profits for Albemarle as Long-Term Growth Plan Remains on Track
Albemarle reported solid first-quarter results, as total EBITDA was up 18% year on year to nearly $250 million during the quarter, driven by double-digit lithium volume and pricing growth. Although management raised the low end of EPS guidance by $0.10 per share to $5.10 from $5.00, the company left the high end of guidance unchanged at $5.40. The market reacted negatively to this news, sending shares down over 4% to roughly $97.50 per share at the time of writing. We see no reason to change our...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.
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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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