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ALBEMARLEⓇ Albemarle Reports First Quarter Sales Growth of 12 % ● CHARLOTTE , N.C. - May 5 , 2021 - Albemarle Corporation ( NYSE : ALB ) today announced its results for the first quarter ended March 31 , 2021 . Contact : Meredith Bandy First Quarter 2021 Highlights ( Unless otherwise stated , all percent changes are based on year - over - year comparisons ) Net income of $ 95.7 million , or $ 0.84 per diluted share ; Adjusted diluted EPS of $ 1.10 , an increase of 10 % Net sales of $ 829.3 million , an increase of 12 % Adjusted EBITDA of $ 230.1 million an increase of 17 % Full year 2021 guidance unchanged Entered into a definitive agreement to sell the Fine Chemistry Services business to W. R. Grace & Co. for proceeds of approximately $ 570 million Exhibit 99.1 Completed $ 1.5 billion public equity offering to accelerate profitable growth ; reduced debt , providing financial flexibility to execute strategy Outlook 980.999.5168 Signed the U.N. Global Compact , aligning our sustainability efforts with those of the international business community " We were pleased with our performance this quarter , achieving a 17 % year - over - year increase in adjusted EBITDA , driven by strong sales from our Lithium and Bromine businesses , " said Albemarle CEO Kent Masters . " We successfully and safely managed through the impact of the U.S. Gulf Coast winter storm on our Bromine and Catalysts businesses . As we look to expand our earnings potential , we continue to focus on execution of our growth strategy and are in the final stages of two lithium projects which will double our conversion capacity to approximately 175,000 metric tons . Additionally , we expect to start approving Wave 3 expansion projects during the second quarter . " Net sales Adjusted EBITDA Adjusted EBITDA Margin Adjusted Diluted EPS Net Cash from Operations Capital Expenditures 1 Albemarle continues to expect its full year 2021 operating performance to improve modestly relative to full year 2020 , assuming continued recovery from the global economic downturn . While the total company guidance has not changed , from a GBU perspective , the outlook for our Lithium business has improved and for our Catalysts business our expectations are lower , while the outlook for our Bromine business is unchanged . FY 2021 Guidance $ 3.2 $ 3.3 billion $ 810 - $ 860 million 25 % -26 % $ 3.25 - $ 3.65 $ 475 - $ 575 million $ 850 - $ 950 million