Albemarle (ALB) Reports Prelim. Q4 Results

Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, today announced preliminary results for the fourth quarter ended December 31, 2020.

Fourth-Quarter 2020 Highlights(Unless otherwise stated, all percent changes are based on year-over-year comparisons)

• Net sales of between $870 million and $880 million, down 11% to 12%, but above prior outlook
• Net income in the range of $77 million to $87 million, down 3% to 15%; $0.73 to $0.81 per diluted share
• Adjusted diluted EPS of between $1.11 and $1.19, excluding an after-tax $40 million mark-to-market actuary loss due to lower discount rates
• Adjusted EBITDA of between $213 million and $223 million, down 24% to 28%, but above prior outlook

(Consensus is for Q4 EPS of $1.07 on revenue of $837.3 million)

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