Albemarle Reaffirms 2021 Guidance; Introduces 2022 Outlook, Long-term Targets

(RTTNews) - Albemarle Corporation (ALB) reaffirmed the company's full-year 2021 guidance. The company continues to expect a modest improvement in full-year 2021 operating performance compared to 2020, assuming continued global economic recovery.

For full-year 2022, the company expects adjusted EBITDA to be up 25% to 35% from 2021 primarily due to higher pricing and volumes for Lithium and anticipated stronger performance for Catalysts following previous pandemic-related weakness.

For 2026 long-term financial targets, the company estimates net sales (5-Year CAGR) in a range of 13% - 17%.

"We see exciting growth opportunities ahead for Albemarle, primarily driven by the importance of electrification in the transition to more sustainable sources of energy," said CEO Kent Masters.