CHARLOTTE, N.C., Nov. 6, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced its results for the third quarter ended September 30, 2024.

Third-Quarter 2024 and Recent Highlights(Unless otherwise stated, all percentage changes represent year-over-year comparisons)

Net sales of $1.4 billion, with volumes in Energy Storage and Specialties up 16% and 4%, respectivelyNet loss of ($1.1) billion, or ($9.45) per diluted share attributable to common shareholders, which included pre-tax charges of $861 million primarily related to previously announced capital project asset write-offsAdjusted diluted loss per share attributable to common shareholders of ($1.55)Adjusted EBITDA of $211 million; Specialties adjusted EBITDA up 22% year-over-year and Ketjen adjusted EBITDA up 134% year-over-yearCash from operations of $241 million, representing >100% operating cash flow conversion(a), driven by favorable working capital managementMaintaining full-year 2024 outlook considerations due to productivity and cost improvements, higher volumes, and the performance of long-term contractsProgressed comprehensive review of cost and operating structure; additional details include:Implementing new operating structure to maintain long-term competitiveness, streamlining organization to an integrated functional modelDriving additional cost and productivity improvements of $300 million to $400 million expected per year encompassing broad-based actions that include workforce reductions and manufacturing improvementsReducing global workforce by an expected 6-7%, representing approximately 15% of non-manufacturing workforceDecreasing FY 2025 capital expenditures by approximately 50% versus FY 2024 to an anticipated range of $800 million to $900 million

CHARLOTTE, N.C., Oct. 28, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, announced today that its board of directors has declared a quarterly common stock dividend of $0.405 per share. The dividend, which has an annualized rate of $1.62, is payable Jan. 2, 2025, to shareholders of record at the close of business as of Dec. 13, 2024.

Decision marks next step in comprehensive review of cost and operating structure

CHARLOTTE, N.C., Oct. 7, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced the company's new operating structure to adapt to dynamic market conditions.

Albemarle's operating structure will transition from two core global business units – Energy Storage and Specialties – to a fully integrated functional model designed to increase agility, deliver significant cost savings and maintain long-term competitiveness. The move is the next step in the company's comprehensive review of its cost and operating structure.

CHARLOTTE, N.C., Sept. 30, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, announced today that it will release its third-quarter 2024 earnings after the NYSE closes on Wednesday, November 6, 2024.

The company will hold a conference call to discuss its third-quarter 2024 results on Thursday, November 7, at 8:00 a.m. ET. Access to the call is available via webcast or direct dial. A link to the webcast can be found through Albemarle Corporation's website at http://investors.albemarle.com. Direct dial numbers are provided below:

Award recognizes company's high employee satisfaction, revenue growth and sustainability

CHARLOTTE, N.C., Sept. 13, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, announced today that TIME magazine has named it one of the World's Best Companies in 2024.

Albemarle has also been honored for diversity and for how it performs on business issues that matter most to Americans.

CHARLOTTE, N.C., July 16, 2024 /PRNewswire/ -- The Board of Directors of Albemarle Corporation (NYSE: ALB) announces that it has declared a quarterly common stock dividend of $0.405 per share. The dividend, which has an annualized rate of $1.62, is payable Oct. 1, 2024, to shareholders of record at the close of business as of Sept. 13, 2024. For 30 consecutive years, Albemarle has raised its dividend.

CHARLOTTE, N.C., July 1, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, announced today that it will release its second-quarter 2024 earnings after the NYSE closes on Wednesday, July 31, 2024.

The company will hold a conference call to discuss its second-quarter 2024 results on Thursday, August 1, at 8:00 a.m. ET. Access to the call is available via webcast or direct dial. A link to the webcast can be found through Albemarle Corporation's website at http://investors.albemarle.com. Direct dial numbers are provided below:

CHARLOTTE, N.C., June 27, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, announces the release of its fourth annual Sustainability Day. The video features Albemarle executives discussing key highlights from the company's 2023 Sustainability Report, All the Elements for a Better World.

"Sustainability is embedded in our purpose, strategy and value proposition," said Albemarle Chairman and CEO Kent Masters. "This year's Sustainability Day showcases the progress we've made and our ongoing commitment to build a more resilient world in collaboration with our global stakeholders."

CHARLOTTE, N.C., June 12, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, today published its 2023 Sustainability Report, All the Elements for a Better World, detailing updates on sustainability strategy execution and the important progress made toward achieving the company's sustainability goals.

Plan includes responsible land and material use, environmental protection measures and ongoing community engagement

CHARLOTTE, N.C., June 11, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, has introduced its project plan for the Kings Mountain Mine, one of the few known hard-rock lithium deposits in the U.S. The plan includes the proposed site footprint, primary physical features and details of the mining processes. Pending permitting approval and a final investment decision, the mine is anticipated to produce approximately 420,000 tons of lithium-bearing spodumene concentrate yearly, providing a crucial building block for sustainable transportation and to support key defense applications.