Albemarle (ALB) Misses Q2 EPS by 39c; offers outlook

Albemarle (NYSE: ALB) reported Q2 EPS of $0.04, $0.39 worse than the analyst estimate of $0.43. Revenue for the quarter came in at $1.43 billion versus the consensus estimate of $1.34 billion.

2024 Other Corporate Outlook Considerations

The company is reducing its Specialties adjusted EBITDA outlook due to a slower than expected market rebound and higher logistics costs related to the ongoing conflict in the Middle East. Capital expenditures are now expected to be at the high-end of $1.7 to $1.8 billion related to timing of capital spending. Depreciation and amortization reflects a tighter range in light of year-to-date expense. Lower expected corporate costs reflect favorable interest income and on-going cost and productivity improvements. Lower interest and financing expenses reflect the repayment of short-term debt. Below are outlook considerations updated from our first quarter earnings release issued on May 1, 2024.

For earnings history and earnings-related data on Albemarle (ALB) click here.

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