Albemarle Stock News

Lithium stocks began rebounding in August. Output cuts and a giant buyout marked a cyclical bottom for lithium prices.

Albemarle is adjusting its business model due to slow EV demand, leading to reduced new mine construction and potential future price boosts. The lithium miner reported Q3'24 revenues dropped 39% to $1.4 billion, reflecting a potential trough of the lithium price cycle, with significant cost-cutting measures in place. The company cut capex plans, slashed spending from $2.1 billion in 2023 to $0....

Albemarle Corporation (NYSE:ALB ) Q3 2024 Earnings Conference Call November 7, 2024 8:00 AM ET Company Participants Kent Masters - Chairman, President, and CEO Neal Sheorey - EVP and CFO Netha Johnson - COO Eric Norris - CMO Meredith Bandy - VP, IR and Sustainability Conference Call Participants Aleksey Yefremov - KeyBanc Capital Markets John Roberts - Mizuho Securities David Deckelbaum - TD Co...

Albemarle , the world's largest lithium producer, said on Thursday it lost more than $1 billion in the third quarter and that it would slash its capital budget amid a 71% drop in prices for the electric vehicle battery metal.

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.

Albemarle Corporation's stock remains a “Sell” due to declining revenue, profitability issues, and significant overvaluation despite a 17% price drop since January. Lithium prices have halved over the past year, leading to an oversupply and negative sentiment for Albemarle's upcoming earnings release on November 6. Valuation models [DDM and DCF] indicate substantial downside potential, with DDM...

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