Albemarle Launches Granite Technology, Boosts FCC Portfolio

By Zacks Investment ResearchStock MarketsDec 19, 2017 08:40PM ET

www.investing.com/analysis/albemarle-launches-granite-technology-boosts-fcc-portfolio-200274750

Albemarle Launches Granite Technology, Boosts FCC Portfolio

By Zacks Investment Research | Dec 19, 2017 08:40PM ET

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Albemarle Corporation (NYSE:ALB) announced that it is introducing a new technology for the Fluid Catalytic Cracking ("FCC") catalyst market dubbed Granite.

The new technology platform is based on novel matrix/binder system, which expands the catalyst formulation window. This enables refiners maximize profitability through better bottoms upgrading, higher zeolite stability and improved coke selectivity while achieving targeted product yields. Albemarle stated that the first catalyst product lines under the Granite technology platform are Everest, Peak and Denali.

The new technology strengthens the company's long-standing leadership and expands FCC product portfolio. It also offers new options for customers to focus on petrochemical or fuel production. The technology also provides improved performance and operational flexibility to customers.

Shares of Albemarle have declined 2.1% in the past three months, against the industry’s 5.5% growth.

In November, Albemarle raised guidance for 2017 and it now expects full-year net sales of between $3 billion and $3.05 billion (compared with the prior view of $2.90-$3.05 billion), adjusted earnings per share between $4.40 and $4.50 (compared with the prior view of $4.20 and $4.40) and adjusted EBITDA of $860-$875 million (compared with $835-$875 million expected earlier).

Albemarle remains focused on strengthening its lithium business. The company is well placed to leverage strong expected growth in the battery-grade lithium market. Albemarle is executing a number of projects that are likely to boost its global lithium derivative capacity to 165,000 metric tons by 2021.

Additionally, the company’s strategy to sell non-core businesses and assets is likely to boost growth opportunities and focus on its key businesses.

Albemarle Corporation Price and Consensus

Albemarle Corporation Price and Consensus | Albemarle Corporation Quote

Zacks Rank & Key Picks

Albemarle currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are Westlake Chemical Corporation (NYSE:WLK) , Daqo New Energy Corp. (NYSE:DQ) and Kronos Worldwide Inc. (NYSE:KRO) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Westlake Chemical has an expected long-term earnings growth rate of 10.6%. Its shares have risen 83.8% year to date.

Daqo New Energy has an expected long-term earnings growth rate of 7%. Its shares have surged a whopping 151.3% year to date.

Kronos Worldwide has an expected long-term earnings growth rate of 5%. Its shares have rallied 115.1% year to date.

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Albemarle Corporation (ALB): Free Stock Analysis Report

Kronos Worldwide Inc (KRO): Free Stock Analysis Report

Westlake Chemical Corporation (WLK): Free Stock Analysis Report

DAQO New Energy Corp. (DQ): Free Stock Analysis Report

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Albemarle Launches Granite Technology, Boosts FCC Portfolio

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