Albermarle result largely in line with market expectations, however it paints an ugly picture.
They are effectively making $0 in the current pricing environment and have suggested the have price floors in some of their contracts.
Given they are spending about $1.8bil p/a in Capx you can see why they needed to raise over $2.3bil in capital this year.
if things stay the way they are, Albermarle could be in real operational trouble by the end of the year. They have enough cash to last another 12 months.
Albermarle result largely in line with market expectations,...
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