Albemarle expects up to 35% EBITDA growth in 2022 on strong lithium demand
(Kitco News) - Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, today reaffirmed its full-year 2021 guidance and introduced new full-year 2022 outlook.
The company said it continues to expect a modest improvement in full-year 2021 operating performance compared to full year 2020, assuming continued global economic recovery.
The company’s full-year 2022 adjusted EBITDA is expected to be up 25% to 35% versus 2021 primarily due to higher pricing and volumes for Lithium and anticipated stronger performance for Catalysts following previous pandemic-related weakness.
"We see exciting growth opportunities ahead for Albemarle, primarily driven by the importance of electrification in the transition to more sustainable sources of energy," said CEO Kent Masters. "We are actively implementing our structured operating model, the Albemarle Way of Excellence, to help ensure we successfully achieve our strategic goals. With our focus on sustainable practices, our access to world-class resources, and our position as an industry leader, we aim to maintain a leadership position in all our businesses to serve our customers' growing needs and create shareholder value well into the future."
Albemarle is a global specialty chemicals company with leading positions in lithium, bromine, and refining catalysts.