Albemarle Corp

ALB: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$846.00	Zgvkdl	Gwmmkqp

Albemarle Earnings: Plummeting Prices Pause Expansion Plans

Seth Goldstein

Aug 1, 2024

Albemarle's second-quarter results reflected the lithium price decline as companywide adjusted EBITDA plummeted 70% versus the prior-year quarter. Management announced further capital expenditure reductions and cost-cutting initiatives in response to lower lithium prices. Most notably, the company signaled it would place phase two of the Kemerton lithium hydroxide processing facility into care and maintenance and stop work on phase three. Management also signaled it will reduce its unit production costs to boost profits in the wake of lower lithium prices and cut capital expenditure further in 2025 and beyond.

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