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Die Albemarle Corporation stellt Chemikalien her.
Mittwoch, 07.08.2019 22:17 von | Aufrufe: 320

Albemarle reports second quarter growth and raises full year EPS guidance

Die Albemarle Corporation stellt Chemikalien her. © Image Source / DigitalVision / Getty Images https://www.gettyimages.de/

PR Newswire

CHARLOTTE, N.C., Aug. 7, 2019

CHARLOTTE, N.C., Aug. 7, 2019 /PRNewswire/ --

Albemarle Corp. Logo. (PRNewsFoto/Albemarle Corporation)

Second quarter 2019 highlights:

  • Net sales were $885.1 million, an increase of 4% over the prior year; earnings were $1.45 per diluted share
  • Adjusted diluted EPS was $1.55, an increase of 14% over the prior year
  • Adjusted EBITDA increased 6%, excluding currency exchange impacts
  • Revised agreement with Mineral Resources Limited to acquire a 60% interest in the Wodgina hard rock lithium mine project
  • Raised full year outlook of adjusted diluted earnings per share to between $6.25 and $6.65

Albemarle Corporation (NYSE: ALB) reported second quarter 2019 results.

Three Months Ended June 30,

In thousands, except per share amounts

2019


ARIVA.DE Börsen-Geflüster

Kurse

Albemarle Corp
106,94 €
-0,21%
Albemarle Corp Realtime-Chart

2018

$ Change

% Change

Net sales

$

885,052

$

853,874

$

31,178

3.7

%
  • Favorable pricing in all reportable segments and increased volume in Lithium and Bromine Specialties
  • Lower volume in Catalysts
  • Growth of 6% excluding unfavorable currency exchange impacts

Net income attributable to Albemarle Corporation

$

154,198

$

302,461

$

(148,263)

(49.0)

%
  • 2018 included $176.7 million after tax gain on sale of the polyolefin catalysts and components portion
    of the Performance Catalyst Solutions ("PCS") business
  • Increased depreciation and amortization expense due to increased capital projects put into service
  • Lower interest and financing expenses from higher capitalized interest due to increased capital
    expenditures
  • Lower taxes resulting from the geographic mix of earnings

Adjusted EBITDA(a)

$

261,900

$

258,562

$

3,338

1.3

%
  • Increased earnings in Bromine Specialties and All Other
  • Decreased earnings in Catalysts from lower volume, as well as an increase in Corporate costs for
    professional services

Diluted earnings per share

$

1.45

$

2.73

$

(1.28)

(46.9)

%

   Non-operating pension and OPEB items(a)

(0.01)

(0.02)




   Non-recurring and other unusual items(a)

0.10

(1.36)




Adjusted diluted earnings per share(b)

$

1.55

$

1.36

$

0.19

14.0

%

(a)    See Non-GAAP Reconciliations for further details.

(b)    Totals may not add due to rounding.

 

"In the second quarter, Albemarle delivered adjusted diluted EPS of $1.55, an increase of 14% compared to the second quarter of 2018. All of our businesses met or exceeded our expectations this quarter with volume and pricing providing year-over-year growth in Lithium and Bromine," said Luke Kissam, Albemarle's CEO. "The recently announced amendments to our transaction with Mineral Resources Limited and our decision to delay indefinitely certain lithium expansion projects will allow us to reduce capital expenditures significantly while still meeting the commitments we have made to our customers."

Outlook

With first half 2019 performance as expected, we reconfirm our net sales and adjusted EBITDA guidance, while increasing our adjusted EPS guidance to the following:

2019 Outlook

vs Full Year 2018

Net sales

$3.65 - $3.85 billion

8% - 14%

Adjusted EBITDA

$1,070 - $1,140 million

6% - 13%

Adjusted EPS (per diluted share)

$6.25 - $6.65

13% - 21%

Quarterly Segment Results

Lithium

In millions

Q2 2019

Q2 2018

$ Change

% Change

Net Sales

$

324.8

$

317.6

$

7.2

2.3

%
  • Favorable price impacts and increased sales volume
  • $7.3 million of unfavorable currency exchange

Adjusted EBITDA

$

141.8

$

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