ALBEMARLE CORP

Listed Company

ALB-PACIK 0000915913NYSELarge AcceleratedPlastic Materials, Synth Resins & Nonvulcan ElastomersVirginiaFY ends Dec 31

Period

FY 2025

Revenue

$5.14B

Net Income

$-510.63M

Total Assets

—

Equity

—

Shares Out

117.93M

Op. Cash Flow

$1.28B

Business

Albemarle Corporation transforms essential resources into chemical ingredients and technologies for mobility, energy, connectivity and health, with a focus on enabling energy storage and specialty chemical solutions. It develops and manufactures lithium compounds (carbonate, hydroxide, chloride), bromine-based specialty chemicals, cesium and metal products, hydroprocessing, FCC and performance catalysts, organometallics and offers technical services, recycling, and R&D. The company reports results across three segments—Energy Storage, Specialties and Ketjen—with Ketjen operated as a separate wholly owned subsidiary. Albemarle serves global end markets through more than 25 production and R&D facilities, joint ventures, regional sales teams, strategic account programs and distributors across the Americas, Asia, Europe, the Middle East and other regions.

Summary from filing dated 2025-02-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	5,143	5,378	9,617	7,320	3,328
Cost of goods sold	4,474	5,315	8,431	4,246	2,330
Gross profit	669	63	1,186	3,075	998
Selling, general and administrative expenses	550	618	910	524	441
Goodwill impairment	181	0	0	—	—
Long-lived asset impairment charges	246	0	0	—	—
Restructuring charges and asset write-offs	8	1,134	9	—	—
Research and development expenses	51	87	86	72	54
Gain on change in interest in properties/sale of business, net	0	0	−71	8	−296
Operating (loss) profit	−367	−1,777	252	2,470	798
Interest and financing expenses	−208	−166	−116	−123	−61
Other income, net	23	178	111	86	−603
(Loss) income before income taxes and equity in net income of unconsolidated investments	−552	−1,764	247	2,433	134
Income tax expense	157	87	430	391	29
Loss before equity in net income of unconsolidated investments	−709	−1,851	−184	—	—
Equity in net income of unconsolidated investments (net of tax)	244	715	1,854	772	96
Net (loss) income	−465	−1,135	1,671	2,815	200
Net income attributable to noncontrolling interests	−45	−44	−97	−125	−76
Net (loss) income attributable to Albemarle Corporation	−511	−1,179	1,573	2,690	124
Mandatory convertible preferred stock dividends	−167	−137	0	0	—
Net (loss) income attributable to Albemarle Corporation common shareholders, basic	−677	−1,316	1,573	2,690	—
Net (loss) income attributable to Albemarle Corporation common shareholders, diluted	−677	−1,316	1,573	2,690	—
Basic earnings (loss) per share attributable to common shareholders (in dollars per share)	−5.76	−11.2	13.41	22.97	1.07
Diluted earnings (loss) per share attributable to common shareholders (in dollars per share)	−5.76	−11.2	13.36	22.84	1.06
Weighted-average common shares outstandingbasic (in shares)	118	118	117	117	116
Weighted-average common shares outstandingdiluted (in shares)	118	118	118	118	117

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,618	1,192	890	1,499	439
Trade accounts receivable, less allowance for credit losses (2025$4,578; 2024$5,201)	594	742	1,213	1,191	557
Other accounts receivable	105	238	509	186	66
Inventories	1,179	1,503	2,161	2,076	799
Other current assets	140	167	443	235	133
Current assets held for sale	372	0	—	—	—
Total current assets	4,008	3,842	5,217	5,187	1,994
Property, plant and equipment, at cost	11,769	12,523	12,234	9,354	8,075
Less accumulated depreciation and amortization	3,156	3,192	2,739	2,391	2,165
Net property, plant and equipment	8,612	9,331	9,495	6,963	5,910
Investments	901	1,118	1,370	1,151	912
Other assets	647	505	297	251	252
Goodwill	1,500	1,583	1,630	1,618	1,598
Other intangibles, net of amortization	214	231	262	288	309
Noncurrent assets held for sale	492	0	—	—	—
Total assets	16,374	16,610	18,271	15,457	10,974
Accrued expenses	522	468	545	506	763
Current portion of long-term debt	74	398	626	2	390
Dividends payable	61	61	47	46	45
Income taxes payable	35	95	255	135	28
Current liabilities held for sale	192	0	—	—	—
Total current liabilities	1,798	1,966	3,560	2,741	1,874
Long-term debt	3,119	3,118	3,541	3,215	2,004
Postretirement benefits	45	32	26	33	44
Pension benefits	117	116	150	160	229
Other noncurrent liabilities	1,085	819	769	637	664
Deferred income taxes	368	358	558	481	353
Noncurrent liabilities held for sale	60	0	—	—	—
Commitments and contingencies	—	—	—	—	—
Common stock, $.01 par value (authorized 275,000 shares), issued and outstanding 117,716 in 2025 and 117,560 in 2024	1	1	1	1	1
Mandatory convertible preferred stock, Series A, no par value, $1,000 stated value, authorized - 15,000, issued and outstanding - 2,300 in 2025 and 2024	2,235	2,235	0	—	—
Additional paid-in capital	3,018	2,986	2,953	2,941	2,920
Accumulated other comprehensive loss	−335	−742	−529	−561	−392
Retained earnings	4,614	5,482	6,987	5,601	3,097
Total Albemarle Corporation shareholders equity	9,533	9,962	9,412	7,983	5,625
Noncontrolling interests	248	238	253	208	180
Total equity	9,781	10,200	9,665	8,191	5,806
Total liabilities and equity	16,374	16,610	18,271	15,457	10,974

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	659	589	430	301	254
Non-cash restructuring and asset write-offs	0	1,013	0	0	—
Gain on change in interest in properties/sale of business, net	0	0	−71	8	−296
Stock-based compensation and other	40	32	37	30	20
Equity in net income of unconsolidated investments (net of tax)	−244	−715	−1,854	—	—
Dividends received from unconsolidated investments and nonmarketable securities	94	359	2,001	801	78
Pension and postretirement expense (benefit)	23	−5	−2	−52	−74
Pension and postretirement contributions	−20	−19	−18	−16	−30
Realized loss on investments in marketable securities	0	34	0	0	—
Unrealized (gain) loss on investments in marketable securities	−14	30	40	3	−4
Loss on early extinguishment of debt	7	0	0	19	29
Deferred income taxes	81	−230	101	93	−39
Decrease (increase) in accounts receivable	47	555	−351	−786	−49
Decrease (increase) in inventories	212	1,055	−354	−1,610	−127
Decrease (increase) in other current assets	4	245	−172	−105	17
(Decrease) increase in accrued expenses and income taxes payable	−37	−140	254	−201	127
Noncurrent liability changes and other, net	339	−116	−101	91	54
Net cash provided by operating activities	1,282	688	1,327	1,908	344
Acquisitions, net of cash acquired	0	0	−426	—	—
Capital expenditures	−590	−1,681	−2,155	−1,262	−954
Proceeds from sale of property and equipment	33	29	0	0	0
Proceeds from sale from investments	291	0	0	—	—
Proceeds (payments) from settlement of foreign currency forward contracts, net	114	−16	222	—	—
Sales (purchases) of marketable securities, net	6	83	−204	2	4
Investments in equity investments and nonmarketable securities	−239,000	−270,000	−1	−706,000	−6
Net cash used in investing activities	−146	−1,585	−2,565	−1,423	−667
Proceeds from issuance of mandatory convertible preferred stock, net of issuance costs	0	2,200	0	0	—
Proceeds from borrowings of long-term debt and credit agreements	57	112	356	1,964	0
Repayments of long-term debt and credit agreements	−506	−112	−29	−705	−1,174
Other (repayments) borrowings, net	−6	−632	617	−392	61
Dividends paid to common shareholders	−191	−189	−187	−184	−178
Dividends paid to mandatory convertible preferred shareholders	−167	−123	0	0	—
Dividends paid to noncontrolling interests	−18	−37	−106	−44	−96
Proceeds from exercise of stock options	3	374,000	190,000	3	18
Withholding taxes paid on stock-based compensation award distributions	−7	−12	−27	−13	−8
Other	−55,000	−3	−191,000	−7	−2
Net cash (used in) provided by financing activities	−834	1,242	624	612	50
Net effect of foreign exchange on cash and cash equivalents	124	−43	5	−37	−35
Increase (decrease) in cash and cash equivalents	426	302	−609	1,060	−307

Filings

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