Albemarle reports Q2 adjusted EPS 4c, consensus 41c

Reports Q2 revenue $1.4B, consensus $1.34B. The company said, “Our operational mindset continued to serve us well in the second quarter as Albemarle progressed important organic growth initiatives while taking actions to maintain our long-term competitive position. We achieved the first commercial sales of product from our Meishan conversion plant and delivered more than $150 million in productivity benefits. We are also maintaining our full-year 2024 corporate outlook considerations. Building on the progress already underway, we are announcing a comprehensive review of our cost and operating structure, beginning with immediate footprint actions at our Kemerton site in Australia. The review and steps underway will maintain Albemarle’s competitive position and ensure we execute with agility today and in the future.”