NYSE:ALBChemicals
Albemarle Quarter Highlights Portfolio Shift With Divestitures And Debt Paydown
Albemarle (NYSE:ALB) reported strong first quarter results, with revenue and earnings ahead of analyst expectations.
The company completed the sale of its Eurecat joint venture and its controlling stake in Ketjen, receiving substantial net cash proceeds.
Albemarle used the proceeds to pay down US$1.3b of debt and reduce interest expenses.
The company raised its full year outlook for sales and profitability in its Specialties segment.
For investors tracking Albemarle, the latest quarter ties...