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Albemarle (ALB) Updates Sales and Earnings Outlook for FY22
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Albemarle Corporation (ALB - Free Report) has announced improved full-year 2022 guidance mainly due to the completion of additional lithium contract renegotiations. This was post its first-quarter 2022 earnings release on May 4, 2022.
The full-year corporate financial results represent additional index-referenced, variable-price contracts for battery-grade lithium sales. Higher net cash from operations guidance incorporates increased earnings partly offset by increased working capital. The company’s outlook for the Bromine and Catalysts businesses remains unchanged.
The company now expects net sales in the range of $5.8-$6.2 billion for 2022, up from the previous $5.2-$5.6 billion outlook. It expects adjusted earnings per share (EPS) in the range of $12.30-$15, higher than the prior guidance of $9.25-$12.25. Adjusted EBITDA for the year is now forecast to be $2.2-$2.5 billion, up from the prior view of $1.7-$2 billion.
The lithium adjusted EBITDA for full-year 2022 is now projected to rise roughly 300% year over year, up from the earlier outlook. Average realized pricing is now anticipated to be up around 140% year over year, resulting from the implementation of index-referenced, variable-price contracts and improved market pricing. Full-year 2022 volume is projected to be up 20-30% year over year (unchanged from the previous outlook) mainly due to new capacity coming online.
Shares of Albemarle have surged 53.8% in the past year against an 8.3% decline of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Albemarle currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the basic materials space are Allegheny Technologies Inc. (ATI - Free Report) , Nutrien Ltd. (NTR - Free Report) and Cabot Corporation (CBT - Free Report) .
Allegheny has a projected earnings growth rate of 869.2% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised 27.3% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has gained around 16.7% in a year and currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Nutrien has a projected earnings growth rate of 161.9% for the current year. The Zacks Consensus Estimate for NTR’s current-year earnings has been revised 26.9% upward in the past 60 days.
Nutrien’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 5.8%. NTR has gained 68% in a year. The company flaunts a Zacks Rank #1.
Cabot, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 21.5% for the current year. The Zacks Consensus Estimate for CBT's earnings for the current year has been revised 5.2% upward in the past 60 days.
Cabot’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 16.2%. CBT has gained around 12.9% over a year.
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Albemarle (ALB) Updates Sales and Earnings Outlook for FY22
Albemarle Corporation (ALB - Free Report) has announced improved full-year 2022 guidance mainly due to the completion of additional lithium contract renegotiations. This was post its first-quarter 2022 earnings release on May 4, 2022.
The full-year corporate financial results represent additional index-referenced, variable-price contracts for battery-grade lithium sales. Higher net cash from operations guidance incorporates increased earnings partly offset by increased working capital. The company’s outlook for the Bromine and Catalysts businesses remains unchanged.
The company now expects net sales in the range of $5.8-$6.2 billion for 2022, up from the previous $5.2-$5.6 billion outlook. It expects adjusted earnings per share (EPS) in the range of $12.30-$15, higher than the prior guidance of $9.25-$12.25. Adjusted EBITDA for the year is now forecast to be $2.2-$2.5 billion, up from the prior view of $1.7-$2 billion.
The lithium adjusted EBITDA for full-year 2022 is now projected to rise roughly 300% year over year, up from the earlier outlook. Average realized pricing is now anticipated to be up around 140% year over year, resulting from the implementation of index-referenced, variable-price contracts and improved market pricing. Full-year 2022 volume is projected to be up 20-30% year over year (unchanged from the previous outlook) mainly due to new capacity coming online.
Shares of Albemarle have surged 53.8% in the past year against an 8.3% decline of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Albemarle currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the basic materials space are Allegheny Technologies Inc. (ATI - Free Report) , Nutrien Ltd. (NTR - Free Report) and Cabot Corporation (CBT - Free Report) .
Allegheny has a projected earnings growth rate of 869.2% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised 27.3% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has gained around 16.7% in a year and currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Nutrien has a projected earnings growth rate of 161.9% for the current year. The Zacks Consensus Estimate for NTR’s current-year earnings has been revised 26.9% upward in the past 60 days.
Nutrien’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 5.8%. NTR has gained 68% in a year. The company flaunts a Zacks Rank #1.
Cabot, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 21.5% for the current year. The Zacks Consensus Estimate for CBT's earnings for the current year has been revised 5.2% upward in the past 60 days.
Cabot’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 16.2%. CBT has gained around 12.9% over a year.