Albemarle (ALB) Stock

CHARLOTTE, N.C., Dec. 2, 2024 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a worldwide leader in supplying key elements for mobility, energy, connectivity, and health, has announced that Eric Norris, the chief commercial officer, will take part in a fireside chat at the Deutsche Bank Lithium & Battery Supply Chain Conference on Wednesday, Dec. 4.

Electric vehicles represent the future and offer investment chances in lithium, making Albemarle Corporation a strong option to consider, even with some short-term difficulties. Since August, Albemarle's stock has increased by 41.2%, surpassing the S&P 500, thanks to a better financial situation and a positive long-term outlook for the lithium market. Although the company has seen a notable decline in revenue and profits, management is implementing cost-cutting strategies and making smart choices to help stabilize the business.

Mandatory convertible preferred shares, such as ALB.PR.A, carry risks similar to common shares. Many investors focus on the fixed coupon and may not realize the possible losses involved. This was evident with Algonquin and Paramount's mandatory convertibles.

Users of Zacks.com have been paying a lot of attention to Albemarle (ALB) lately. Therefore, it's important to understand the key information that could influence the stock's future.

Users of Zacks.com have been paying a lot of attention to Albemarle (ALB) lately. Therefore, it's important to understand the key information that could influence the future of the stock.

Albemarle is changing its business strategy because of low demand for electric vehicles, which has resulted in fewer new mines being built and possible future price increases. In the third quarter of 2024, the lithium miner's revenues fell by 39% to $1.4 billion, indicating a possible low point in the lithium price cycle, and the company is implementing major cost-cutting measures. They have reduced their capital expenditure plans, cutting spending from $2.1 billion in 2023 to between $0.8 and $0.9 billion by 2025.

Albemarle Corporation (NYSE:ALB) will hold its Q3 2024 Earnings Conference Call on November 7, 2024, at 8:00 AM ET. The call will feature key company leaders, including Kent Masters, the Chairman, President, and CEO, along with other executives. Various analysts from different financial institutions will also participate in the call.

While the revenue and earnings per share (EPS) for Albemarle (ALB) provide insight into its performance for the quarter ending September 2024, it could be helpful to look at how these important figures stack up against Wall Street predictions and last year's results.

Albemarle (ALB) reported a quarterly loss of $1.55 per share, which is worse than the Zacks Consensus Estimate of a loss of $0.31. This is a significant drop compared to earnings of $2.74 per share from the same period last year.