Full-year 2023 guidance remains unchanged from the January update, and reflects strong growth with an increase in net sales of about 55% to 75% from 2022 primarily driven by market demand and continued favorable pricing for lithium. Adjusted EBITDA is expected to increase 20% – 45%, with adjusted diluted EPS up to 50% year-over-year. The company expects to maintain positive cash flow even while increasing capital expenditures to between $1.7 billion and $1.9 billion for 2023.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on ALB:
- Albemarle Corporation Reported Earnings. Did it Beat Estimates?
- Albemarle Reports Net Sales Increase ~3x for Fourth Quarter 2022; Full-Year Net Sales Over $7 Billion
- Albemarle options imply 4.2% move in share price post-earnings
- Unusually active option classes on open February 3rd
- Albemarle’s (NYSE:ALB) Catalysts Business Takes a New Direction as a Subsidiary
