WASHINGTON (dpa-AFX) - Albemarle Corporation (ALB) on Wednesday reported a fourth-quarter net loss of $414.2 million or $3.87 per share, compared to net income of $75.3 million or $0.29 per share last year.
Adjusted loss per share for the quarter was $0.53, compared to $1.09 per share last year.
Net sales for the quarter were $1.428 billion, compared to $1.232 billion last year.
Separately, the company said it will idle the remaining operating train, Train 1, at its Kemerton lithium hydroxide processing plant in Western Australia and place it into care and maintenance effective immediately.
The announcement follows actions in 2024 to place Train 2 into care and maintenance and to cease expansion plans for Trains 3 and 4.
The Kemerton plant processes spodumene from the Greenbushes mine, one of the world's best spodumene resources. Albemarle holds ownership interest and half of the offtake rights from Greenbushes through an Australian joint venture. Kemerton, with its proven technology and commercial scale lithium hydroxide production, was built to enable the development of a Western lithium supply chain.
The decision is expected to be accretive to adjusted EBITDA beginning in the second quarter of 2026 with no impact to projected 2026 volumes. Albemarle will meet customer demand for lithium hydroxide through other production channels.
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