Maintaining Strategy to Deliver Volumetric Growth
Raising FY 2023 Outlook to Reflect Recent Lithium Market Prices
Previous
FY 2023 Guidance
as of May 3, 2023
Revised
FY 2023
Guidance²
as of August 2, 2023
2023 Revised
Guidance
vs FY 20222
FY 2022
Net Sales
$7.3B
$9.8B $11.5B
$10.4B $11.5B
40% to 55%
Adj. EBITDA 1, 2
$3.5B
$3.3B $4.0B
$3.8B-$4.4B
10% to 25%
Adj. EBITDA Margin 1,2
47%
34% - 35%
37% -38%
Adj. Diluted EPS1, 2
$21.96
$20.75 $25.75
$25.00 $29.50
15% to 35%
•
Net Cash from Operations
$1.9B
$1.7B-$2.3B
$1.2B - $1.8B
(35%) to (5%)
Capital Expenditures
$1.3B
$1.7B $1.9B
-
$1.9B $2.1B
.
Increase in Adj. EBITDA primarily
due to higher Energy Storage
pricing
Decrease in Net Cash from
Operations primarily driven by
timing of Energy Storage shipments
and expected resolution of the DOJ
matter
Increase in Capital Expenditures
reflects retention of full ownership in
lithium processing assets under the
amended agreements with Mineral
Resources
Other Inputs for 2023:
Depreciation and Amortization
$430M - $450M
Adjusted effective tax rate 20%-
22%
Corporate costs $110M - $120M
•
Interest and financing expenses
$130M - $140M
1 See appendix for FY 2022 non-GAAP reconciliations.
2 The company does not provide the GAAP measures of net income, gross margin, or diluted earnings per share on a forward-looking basis, or a reconciliation of adjusted EBITDA or
adjusted diluted earnings per share to such measure, respectively, because it is unable to estimate significant non-recurring or unusual items without unreasonable effort. See "Non-GAAP
Measures" for more information.
Weighted-average common shares
outstanding - diluted 117.8M
AALBEMARLE
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