Albemarle Corp of Charlotte, NC has reported a fourth quarter 2020 net income of US$84.6 million on net sales of US$879.0 million compared with a net income of US$90.4 million on net sales of US$992.6 million in the corresponding period of 2019. For the full year, the company generated a net income of US$102.2 million on sales of US$3.13 billion versus US$604.4 million on sales of US$3.59 billion in 2019.
Kent Masters, Albemarle’s CEO, said, “Albemarle reported another solid quarter with Q4 2020 adjusted EBITDA exceeding outlook. This performance is due to the hard work and diligence of our operating teams who ran our businesses safely and efficiently throughout this challenging year. As we continue to rebound from last year’s pandemic-related lows, we are accelerating high-return growth in our Lithium and Bromine businesses and maintaining our focus on operational discipline to drive cost and efficiency improvements.”
Albemarle’s fourth quarter 2020 Lithium sales were US$358.6 million versus US$411.1 million in the same period of 2019. The decrease is attributed primarily to lower contract and market pricing, including lower pricing for battery grade that were agreed to in late 2019.
Volume 35, Issue 04