HighGravityDataAlbemarle — Nov 6, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000915913-24-000156
Showing in the filing
Capital expenditures for the full-year 2024
“at the lower-end of the prior outlook range of $1.7 billion to $1.8 billion”
Period
FY2024
Measure
Company-defined measure
Source
Prose
All guidance in this release · 27
Annual run-rate cost and productivity improv…
“$300 million to $400 million”
Annual run-rate cost savings
“$300 million to $400 million”
Global workforce reduction
“6-7%”
Charge related to cost and operating structu… for Q4 FY2024
“a charge primarily related to severance and related benefit costs”
Capital expenditures for FY2025
“$800 million to $900 million”
Total company full-year 2024 net sales for FY2024
“at the lower-end of that range”
Average lithium market price ($/kg LCE) - Re… for FY2024
“$12-15”
Average lithium market price ($/kg LCE) (a) for FY2024
“$12-15”
Average lithium market price ($/kg LCE) - Q4… for FY2024
“~$20”
Average lithium market price ($/kg LCE) - H2… for FY2024
“~$25”
Net sales for FY2024
“$5.5 - $6.2 billion”
Net sales - Recent pricing scenario for FY2024
“$5.5 - $6.2 billion”
Net sales - Q4 2023 average scenario for FY2024
“$6.1 - $6.8 billion”
Net sales for Q4 FY2023
“$6.1 - $6.8 billion”
Net sales - H2 2023 average scenario for FY2024
“$6.9 - $7.6 billion”
Net sales for FY2023
“$6.9 - $7.6 billion”
Adjusted EBITDA - Recent pricing scenario for FY2024
“$0.9 - $1.2 billion”
Adjusted EBITDA (b)(c) for FY2024
“$0.9 - $1.2 billion”
Adjusted EBITDA - Q4 2023 average scenario for FY2024
“$1.6 - $1.8 billion”
Adjusted EBITDA (b)(c) for Q4 FY2023
“$1.6 - $1.8 billion”
Adjusted EBITDA - H2 2023 average scenario for FY2024
“$2.3 - $2.6 billion”
Adjusted EBITDA (b)(c) for FY2023
“$2.3 - $2.6 billion”
Weighted-average common shares outstanding (… for FY2024
“~118 million”
Weighted-average common shares outstanding (… for Q4 FY2023
“~118 million”
Weighted-average common shares outstanding (… for FY2024
“135 - 139 million”
Weighted-average common shares outstanding (… for FY2023
“135 - 139 million”
Capital expenditures for the full-year 2024 for FY2024
“at the lower-end of the prior outlook range of $1.7 billion to $1.8 billion”
Exhibit 99.1 · the passage around this item
… earlier in the release
Year-to-date capital expenditures of $1.3 billion decreased by $135 million versus the prior-year period reflecting the impacts of decisions that have stopped or slowed spending. Capital expenditures for the full-year 2024 are now expected to be at the lower-end of the prior outlook range of $1.7 billion to $1.8 billion. The company announced today that it expects capital expenditures for the full-year 2025 to be in the range of $800 million to $900 million, down approximately 50% year-over-year. Balance Sheet and Liquidity As of September 30, 2024, Albemarle had estimated liquidity of approximately $3.4 billion, including $1.7 billion of cash and cash equivalents, $1.5 billion available under its revolver and $223 million available under other credit lines. Total debt was $3.6 billion, representing a debt covenant net debt to adjusted EBITDA of approximately 3.5 times. On October 31, 2024, Albemarle proactively extended and re-shaped its existing debt covenant waiver through the second quarter of 2026 to bolster its financial flexibility while the company pursues its operating structure and cost-out actions and navigates current market conditions. Earnings Call Date: Thursday, November 7, 2024 Time: 8:00 AM Eastern time Dial-in (U.S.): 1-800-590-8290 Dial-in (International): 1-240-690-8800 Conference ID: ALBQ3 The company’s earnings presentation and supporting material are available on Albemarle’s website at https://investors.albemarle.com. About Albemarle Albemarle Corporation (NYSE: ALB) is a
later in the release …
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other guidance in this release
Text is the filed exhibit, verbatim.