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Albemarle (ALB)
NYSE:ALB
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.65Last Year’s EPS
$1.85Same Quarter Last Year
Moderate Buy
Based on 18 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -7.85%
|Next Earnings Date:Feb 12, 2025
Earnings Call Sentiment|Neutral
The call highlighted strong operational execution and financial flexibility, despite significant challenges from declining lithium prices, leading to revenue and EBITDA declines. Cost-saving initiatives and strong volume growth in energy storage were positive aspects, but the need for workforce reductions and large asset write-offs were significant challenges.Company Guidance
During Albemarle Corporation's Q3 2024 earnings call, the guidance provided emphasized several key metrics and strategic actions. The company reported a significant 41% decline in net sales year-over-year, primarily due to lower lithium pricing, resulting in a net loss of $1.1 billion. Despite these challenges, Albemarle maintained its full-year 2024 outlook, driven by robust cost and productivity improvements targeting savings of $300 million to $400 million. This includes a planned reduction in global workforce by 6% to 7% and a 50% decrease in capital expenditures for 2025, equating to at least $800 million. The firm also highlighted a year-over-year increase in volume growth above 20% for energy storage and an operating cash conversion rate exceeding 100% for Q3, although lower cash conversion is expected in Q4 due to various cash outflows. Albemarle's available liquidity stood at $3.4 billion at quarter-end, with net debt to adjusted EBITDA at 3.5x, well below covenant limits, ensuring financial flexibility amidst current market conditions.Strong Operating Cash Conversion
Achieved over 100% operating cash conversion in Q3 2024, primarily due to timing and management of working capital.
Cost and Productivity Improvements
Targeting $300 to $400 million in cost and productivity improvements, with a 40% to 50% run rate expected by the end of 2024.
Volume Growth in Energy Storage
Energy storage saw more than 20% year-over-year volume growth, driven by strong demand and facility ramp-ups.
Liquidity and Financial Flexibility
Ended Q3 with available liquidity of $3.4 billion and net debt to adjusted EBITDA of 3.5x, 2 turns below the covenant limit.
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ALB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ALB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $96.20 | $99.54 | +3.47% |
| Jul 31, 2024 | $92.88 | $92.38 | -0.54% |
| May 01, 2024 | $117.55 | $123.78 | +5.30% |
| Feb 14, 2024 | $112.64 | $115.70 | +2.72% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Albemarle (ALB) report earnings?
Albemarle (ALB) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is Albemarle (ALB) earnings time?
Albemarle (ALB) earnings time is at Feb 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ALB EPS forecast?
ALB EPS forecast for the fiscal quarter 2024 (Q4) is -$0.65.
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