Tuesday, May 10, 2016

Albemarle (ALB) reports earnings

Link:

  • First quarter earnings of $2.02 per diluted share ($0.40 in prior year); adjusted diluted earnings of $1.12 per share, an increase of 44% over the prior year, excluding the impact of currency and divestitures
  • First quarter adjusted EBITDA of $245 million, an increase of 16% over the prior year, excluding the impact of currency and divestitures
  • First quarter cash from operations of $173 million, an increase of $127 million over the prior year and on track with expectations
  • Completed the sales of the metal sulfides and minerals-based flame retardants and specialty chemicals businesses and used the proceeds to reduce debt
Pretty good report. I am not sure what will happen long term with renewable's and lithium battery storage. However right now the demand is there and the supply is constrained so these producers are in a sweet spot. I will continue to hold. 

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