Falling lithium prices have motivated investors to avoid Albemarle stock -- but are they right to do so?While the S&P 500 has ripped more than 18% higher year to date, shares of lithium production leader Albemarle (ALB 0.04%), however, have failed to benefit from the generally bullish sentiment pervading the market. Since the start of 2024, Albemarle stock has plummeted about 37%.But smart investors know that a stock's sharp decline doesn't automatically mean that it's best for investors to avoid it. In fac ...

andresr The market pullback appears to be ending. YCharts The market is now less than 1% away from a record high. Good economic news (jobless claims) and Powell's dovish speech at Jackson Hole on Friday could be enough to end this pullback. Charlie Bilello Value investors eagerly waiting for a more substantial correction, like the 14% average intra-year peak declines since 1980, have been disappointed. Some of the world's best companies went on sale, but now they're returning to record highs, and bargai ...

Long-term lithium demand is very high, but the market is a mess right now.In this video, Motley Fool contributors Jason Hall and Tyler Crowe break down the lithium market and take a closer look at Albemarle (ALB 0.29%).*Stock prices used were from the afternoon of Aug. 14, 2024. The video was published on Aug 16, 2024. ...

Key TakeawaysAlbemarle was the biggest loser on the S&P 500 in intraday trading Monday as tumbling lithium prices continue to weigh on the company's business.The world's biggest lithium producer reported an almost 40% year-over-year revenue decline and a $188 million loss in its most recent quarterly results.CEO Kent Masters has called on Western governments to act to weaken China's grip on the lithium market. Albemarle (ALB) was the worst-performing stock in the S&P 500 in intraday trading Monday as the wo ...

Just_Super 2024 is not shaping up to be a good year for Albemarle Corporation (NYSE:ALB). Year to date, shares of the company are down an astonishing 42.2%. That is woefully poor compared to the broader market. This drawdown is not random - it is very much based on the company's short-term performance. Recently, lithium prices have tanked. Even though the company has seen a nice rise in volume associated with its products, that drop in price has resulted in significant pain for the company and its inves ...

Betting on the best battery stocks could yield superb gains thanks to rapid cost reductions and market adaptation.Between 2018 and 2022, China shored up on lithium to enhance its battery production capacity, leading to massive stockpiling. This overproduction led to a major supply-demand imbalance and a major price spike over the past couple of years.However, rapid cost reductions drive market growth, particularly in new applications such as static energy storage, beyond the dominant EV sphere. With major c ...

Lithium prices are down 40% in a year -- and Albemarle stock is down more than 50%.Albemarle Corporation (ALB -9.18%) stock tumbled 10.2% through 10:20 a.m. ET Friday, and it's not hard to figure out why. Over the last two days, not one, not two, but four separate analysts have lowered price targets on the lithium miner.That's the bad news. The good news is that every single one of these analysts still thinks Albemarle stock is underpriced, and most think the stock remains a buy.What Wall Street says about ...

财务数据和关键指标变化 - 第二季度净销售额为14亿美元,同比下降40%,主要由于价格下降 [11] - 第二季度归属于Albemarle的亏损为1.88亿美元,每股摊薄亏损1.96美元,包括2.15亿美元的税后资产减值费用 [11] - 第二季度调整后EBITDA为3.86亿美元,同比大幅下降,但环比上升33%,主要由于销量增加和Talison合资企业销量增加 [12] 各条业务线数据和关键指标变化 - 能源存储业务销量同比增长37%,体现了项目产能的成功释放和硫酸锂销售 [6] - 专业化学品业务第二季度销量增长9%,但价格下降,主要由于电子行业需求疲软 [100] 各个市场数据和关键指标变化 - 全球电动车注册量同比增长超过20%,主要由中国市场带动 [16] - 但欧洲和美国市场增速大幅放缓 [16] - 电池化学组成发生变化,插电式混合动力车销量增加,导致每辆车用锂需求下降 [17] - 同时碳酸盐电池占比持续上升 [17] 公司战略和发展方向及行业竞争 - 公司正在进行全面的成本和运营结构审查,以保持竞争力 [9][22] - 主要包括优化全球转化网络、提高成本竞争力和效率、继续降低资本支出和资本密集度、增强财务灵活性 [22] - 公司已经采取了一系列措施,如关闭澳大利亚Kemerton 2号装置、暂停3号装置建设等 [23][24] - 这些措施将使公司能够在当前价格环境下保持盈利和竞争力 [80] - 公司拥有世界级的资源优势、领先的工艺化学知识、创新能力和客户关系等核心竞争优势 [29][30][31][32][33] 管理层对经营环境和未来前景的评论 - 行业面临的挑战包括需求增速放缓、供给过剩、地缘政治不确定性等 [16][17][18][19] - 但长期来看,能源转型趋势仍在持续,锂需求预计2024年至2030年将增长2.5倍 [20] - 公司有信心通过优化成本和运营结构来维持竞争力,并把握长期增长机遇 [34][35] 其他重要信息 - 公司第二季度经营活动现金流转换率达94%,全年预计约50%,处于历史高位 [15] - 公司流动性充足,二季度末可用流动性35亿美元 [14] - 公司维持投资级评级、净债务/EBITDA低于2.5倍的资本配置目标 [55] 问答环节重要的提问和回答 问题1 **分析师提问** 即使7月价格持续较低,公司为何能维持15美元/公斤的EBITDA预测 [37][38] **公司回答** 主要由于销量增长、成本改善、Talison合资企业销量增加以及合同执行情况良好 [38][39] 问题2 **分析师提问** Kemerton产能调整对未来产量增长的影响 [39][40] **公司回答** 产量增长预期不会发生大的变化,公司仍有资源支撑未来几年的增长 [40] 问题3 **分析师提问** Kemerton 2号装置的成本情况和在成本曲线上的位置 [42][43] **公司回答** 没有具体披露Kemerton各装置的成本情况,但Kemerton有助于提供地理多元化和产品多元化 [43][45]

文章核心观点 - 公司在2024年第二季度录得每股亏损1.96美元,而上年同期每股收益为5.52美元 [1] - 公司调整后每股收益为4美分,低于市场预期的53美分 [2] - 公司收入同比下降约40%至14.304亿美元,但仍高于市场预期的14.007亿美元 [3] - 公司在报告季度实现了超过1.5亿美元的生产效率提升,并有望超过初始目标约50% [3] 分部业务表现 能源存储业务 - 销售额同比下降约53%至8.301亿美元,但高于市场预期的8.226亿美元 [4] - 销售额下降主要由于价格下降,但销量增加得益于锂电项目的产能提升 [4] 特殊化学品业务 - 销售额同比下降约10%至3.346亿美元,但高于市场预期的3.099亿美元 [5] - 销售额下降主要由于价格下降,但部分被销量增加所抵消 [5] Ketjen业务 - 销售额同比增长约13%至2.657亿美元,高于市场预期的2.596亿美元 [6] - 销售额增长主要由于销量增加,但部分被价格下降所抵消 [6] 财务状况 - 公司季末现金及现金等价物约为18.302亿美元,环比下降约11% [7] - 长期债务约为35.195亿美元,环比持平 [7] 展望 - 公司下调了特殊化学品业务的调整后EBITDA预期,主要由于市场复苏速度低于预期以及中东地区冲突导致的物流成本上升 [8] - 2024年资本支出预计将位于17-18亿美元的范围上限 [9] - 折旧和摊销预计在5.8-6.3亿美元之间,企业成本预计在6-9亿美元,利息和融资费用预计在1.4-1.7亿美元之间 [9]

业绩总结 - 2024年第二季度净销售额为14亿美元，同比下降40%[6] - 调整后EBITDA为3.86亿美元，同比下降69%[6] - 调整后每股收益为0.04美元，同比下降100%[6] - Albemarle Corporation的净亏损为188,198千美元，调整后的净收入为45,918千美元[61] - 调整后的EBITDA为511,180千美元，净收入为918,280千美元[64] 现金流与债务 - 运营现金流为3.63亿美元，同比增长289%[5] - 净债务与调整后EBITDA比率为2.1倍，远低于银行契约最大限制5.0倍[5] - 2024年运营现金流转化率预计提高至约50%[32] - 公司的总债务为28,104千美元，现金余额为1,800,220千美元[65] 市场与产品展望 - 预计2024年整体公司前景保持不变，锂价情景为每公斤15美元[5] - 预计2024年锂需求年均增长率为15-20%[22] - 2024年能源存储市场预计销售额为32亿至34亿美元，调整后EBITDA为7亿至8亿美元[55] - 2024年能源存储合同预计销量同比增长10%至20%[56] - 2024年锂盐销售量的三分之二将基于指数参考的可变定价合同[57] 业务发展与技术进展 - 第二季度能源存储业务销量增长37%[5] - 公司在智利的碳酸锂生产项目已达到50%的运营率里程碑，正在逐步提升至额定产能[41] - 公司在Meishan的锂转换设施已实现首次商业销售，提前于计划[41] - 公司正在优化全球转换网络，以提高产品灵活性和运营效率[41] 资本支出与调整 - 预计2024年资本支出将减少3亿至4亿美元[30] - FY 2024资本支出预计在17亿至18亿美元之间，较之前范围有所收窄[54] - 特殊业务调整后EBITDA预期为2.1亿至2.6亿美元，因物流成本上升而下调[54] 其他信息 - 公司的有效税率调整后为25.9%[70] - 调整后的加权平均普通股稀释股数为11,011,929[67] - 非经常性和其他异常项目的净影响为21,194千美元[61] - 非经常性和其他异常项目的总影响为1.99美元[67] - 公司的权益收入为28,888千美元，非控股权益为(11,104)千美元[71] - 公司在能源存储领域的收入为2,054千美元[71]