Second quarter 2018 highlights:
Second quarter net sales were $853.9 million, an increase of 16% over the prior year; earnings were $302.5 million, or $2.73 per diluted share, an increase of 197% over the prior year
Second quarter adjusted EBITDA was $258.6 million, an increase of 18% over the prior year; adjusted diluted earnings per share was $1.36, an increase of 20% over the prior year
Closed the sale of the polyolefin catalysts and components portion of the PCS business to W.R. Grace & Co. for net cash proceeds of approximately $417 million on April 3, 2018
Initiated $250 million accelerated share repurchase program, retiring approximately 2.4 million shares in the second quarter
"We saw strength in all three businesses in the second quarter, with each delivering double-digit adjusted EBITDA growth," said Luke Kissam, Albemarles Chairman, President and CEO. "The company grew adjusted diluted EPS by 28% over 2017, excluding divested businesses. Our lithium capital projects continue to progress on plan. We are confident in a strong 2018 and are raising our guidance for the full year to $5.30 to $5.50 per diluted share."
Albemarle reports strong growth and raises guidance - Lithium powers ahead | Albemarle Corporation
