Albemarle Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014
Net income attributable to company for the full year 2014 were $133.3 million, or $1.69 per share, compared to $413.2 million, or $4.90 per share, for the full year 2013. Adjusted earnings for the full year 2014 were $332.1 million, or $4.20 per share, compared to $338.2 million, or $4.01 per share, for the full year 2013. Net sales for the full year 2014 were $2.45 billion, up from $2.39 billion for the full year 2013, driven mainly by favorable Catalyst Solutions pricing and volumes on strong demand, partly offset by lower volumes and pricing in Performance Chemicals and the unfavorable effects of currency exchange. Operating profit was $271.298 million against operating profit of $576.675 million a year ago. Net income from continuing operations was $230.437 million or $2.57 per diluted share against net income from continuing operations of $435.726 million or $4.85 per diluted share a year ago. Capital expenditures were $110.576 million against $155.346 million a year ago. EBITDA was $275.822 million against EBITDA of $688.422 million a year ago. Adjusted EBITDA was $562.155 million against $557.551 million a year ago. Cash flow from operations was approximately $459.2 million for the year ended December 31, 2014, up 6% against the same period in 2013 on lower working capital.