Albemarle Corp (ALB) Quote - XNYS | Morningstar

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Raising Albemarle FVE to $270 On Higher Lithium Price Outlook; Shares Undervalued

Senior Equity Analyst Seth Goldstein

Seth Goldstein, CFA Senior Equity Analyst

Analyst Note

| Seth Goldstein, CFA | May 5, 2022

Albemarle reported strong first-quarter results. Adjusted EBITDA was up 88% versus the same quarter a year prior driven by higher lithium and bromine prices. We have increased our near- and medium-term outlook for Albemarle amid higher lithium prices.

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Albemarle Corp's Company Profile

Business Description

Albemarle is the world's largest lithium producer. Our outlook for robust lithium demand is predicated upon increased demand for electric vehicle batteries. Albemarle produces lithium from its salt brine deposits in Chile and the U.S. and its hard rock joint venture mines in Australia. Albemarle is also a global leader in the production of bromine, used in flame retardants. The company is also a major producer of oil refining catalysts.

Contact

4250 Congress Street, Suite 900
Charlotte, NC, 28209

T +1 980 299-5700

Meredith.Bandy@albemarle.com

www.albemarle.com

Sector Basic Materials

Industry Specialty Chemicals

Most Recent Earnings Mar 31, 2022

Fiscal Year End Dec 31, 2022

Stock Type Cyclical

Employees 6,000

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