Albemarle reports Q3 adjusted EPS ($1.55), consensus (44c)

Reports Q3 revenue $1.4B consensus $1.37B. “Our steadfast focus on execution allowed us to deliver solid third-quarter results and maintain our full-year 2024 corporate outlook considerations as cost improvements, higher volumes, and the performance of our long-term contracts offset lower market pricing,” said Kent Masters, Albemarle’s (ALB) chairman and CEO. Masters continued, “Through our strategic review of Albemarle’s cost and operating structure, we have identified significant opportunities to reduce cost, improve productivity and decrease capital spending while ensuring we efficiently serve customers and our end-markets. These actions are designed to increase Albemarle’s financial flexibility, strengthen our core capabilities and position the company to maintain its leadership position long-term.”