Thanks, And everyone. hello, Ken.
first higher Slide for first increase contracts billion was quarter on variable five. price XXX% our by This a $X.X quarter up review a market $X.X driven through to flowing Let's billion performance sales volumes. last pricing our as of the Energy Net both were higher compared result Storage is year. and and
EPS almost prior Albemarle. to compared was attributable XXX% up record another the income $X.X year. Albemarle which to also up almost for billion, Net quarter Diluted was XXX% is $XX.XX
six. Slide at Looking
in year-over-year. First adjusted almost billion, quarter Storage. sales $X.X was billion approximately by was Energy of higher This driven net $X.X an increase EBITDA almost XXX% entirely increase
pricing to Our lower freight unit Specialties increased lower was business which offset by due costs, and some volumes. up are partially
slightly inflation due to more Texas quarter. a earlier in the winter declined increases And the freeze Ketjen quarter. we than price with importantly, in saw year-over-year offsetting volumes associated in
lithium market of year. guidance we're pricing, methodology, current On and flat holding are XX% are taking we're seven, to we about our of our pricing. is down based price structure. reflect of year, start XX% XXXX running indices established them price, it lithium we same the the guidance predicting lithium provided our contract adjusting On average, market Slide guidance it taking be balance not holding we last for the clear, current flat to as on are This indices To way year. and the the the since through simply mid-April, market lithium
midpoint. over total XXXX the to is range to $XX.X at billion. in $X.X billion of result, now net XX% This the be we sales expect a up As company prior the year
as see to in for third QX Storage price sales declines. quarter fourth expect in both offset and sequential quarters more sequential be a the Energy second sales and increase line in then to ramping the see with volumes We than
between year-over-year midpoint. billion This $X.X growth the and the billion to EBITDA at Adjusted margin full the a range XX% X% reflecting to $X of expected reflects EBITDA company. year of total XX% is for be in a
full of of improvement midpoint. XXXX diluted $XX.XX, adjusted Our is range the to a now the year at year-over-year EPS in guidance X% $XX.XX reflecting
to $X.X cash $X.X billion. guidance at We the our to operations CapEx of $X.X from net expect in remains X.X billion. our range to be And billion
expect So to free we still positive maintain the year. for flow cash
for by to XX% our our second year-over-year XX% pricing Storage XXXX slide unchanged, next half. We year. year-over-year. outlook outlook Turning realized in for detail the to expected Energy now remains up more to be to volume The prices first to that the project realized segment. half, XX% on note up then are full the including and XX% up the in And down QX be in average
shifts joint we the leaves that -- price to on I that on see largely essentially And market the Adjusted pressure to potential EBITDA be downsides on for the margins, and timing have to This And I'll billion spodumene increasing of cover of billion, $X.X the priced storage related quarters. expected all impact $X.X as more in and expect compared Beginning to growth XXXX. EBITA second the venture. inventories. volume upsides more shortly. MARBL see higher during is energy between flat year. We the in quarter,
compared to For Specialties, the adjusted X% EBITDA year. we're XX% up for their to previous to maintain be range guidance
pressure see work through quarter We to customers expect their as the second inventories. current in
recovery stronger However, of second electronics. the we end demand, expect market year be half a the of to consumer particularly with
XXX% adjusted the better year increase and higher is Outlook over be year. EBITDA This in volumes to expected due is to to XXX% up prior pricing. full XXXX Ketjen’s
been structures we that any haven't sold there under expected we our QX. When sales the with lithium XXXX reflect market pricing. mix We've to need customers. long changes of strategic contract updated look market prices, volumes at our are term most remember recent to And contracts to our in
and well supply designed be include spot, our for cathode, reference customers. price as make across on customers to in index predictable. automotive as sales two more These variable Storage of are security and strategic to Energy battery, and our XX% XX% years are about contracts. contracts five major duration, partnerships our typically on expect We including ensure and to chain, the OEM customers value These to sales
We are been weighted than in market we past. the have more towards the
have volatility reference have lag the However, They we caps than true some three-month these less and of of a contracts. and them structure have will still business. spot Because index typically a have of floors.
conversion is term Ken As in market lithium reflected in capacity. ongoing our our said, long investments the in resources confidence and
continue growth in Slide at year-over-year you XX% XXXX. volume range to of see in we to As expect can XX, look the we XX%
volume. As on Qinzhou, we assets, plus additional some and Kemerton conversion new tolling bring specifically
XX% market by we XX% sales and nearly between sales XXXX. demand. anticipate XXXX, to told, volumes still keep now triple CAGR up allowing us to All to and with We Albemarle XXX,XXX position in expect maintain accelerated leadership a volumes our to tons than more
lags. Storage and XX% based Storage we high range, Long on Energy be in in revised market outlook term, Energy pricing the expect in gave in We to mid expect line to XX% the margins inventory January. XXXX, now to continue normalize primarily the of about margins spodumene that impact lithium with we
pricing through dramatic increases months spodumene spodumene margins for lithium customers. year to inventory is faster we spodumene from and average, sold. spodumene time decline saw we’ve goods that higher lithium for our than lag Most to minds to on of Last due lag conversion go that related about year-over-year higher spodumene of in it and to realized the on our in six pricing inventory cost takes
XXXX. As a result, in margins we strong had unusually
the as lower margins joint realizing is accounting lower prices we're The spodumene year of the the treatment lithium item affecting venture. costs. pricing faster reverse than decline, This MARBL next as
net the EBITDA XXX% resulting of report our a sales, to portion in only reported of that margin expect business. of rate but We lower on share
Talison are impacted net our venture. on tax Talison And in by included joint basis. our finally, tax margins reported an EBITDA expense is our after income at EBITDA
exclude higher adjusted be points would in six you tax about If results had to XXXX. margins Talison’s
flows allocating return support and XX, continue invest growth to Slide to highest discipline, the opportunities. will Turning with capital free we our cash to
primary Our projects in Kent growth more and about speak Americas. leverage remains resources will in projects low Australia organic use a moment. to these cost capital of the our And
continue evaluate expand a capacity broad meet range needs. of growth, customers' opportunities to inorganic our to we future to organic Beyond
battery Albemarle resource targets are in primary Our financial We intend flexibility In of development improves extraction to and Australia. returns maintain grade and investment recycling. as strategy, Resources, three to a an our with rating. disclosed submitted previously in proposal indicative track acquire record that technology, preserves processing a areas, approach lithium spodumene resources, that our our M&A stage with Liontown and line credit disciplined
will the To-date, when long our and in transaction information. transaction, meaningfully capital progressing be updates strategy more potential allocation. not Liontown have to would with this disciplined if believe provide Board and We the we term engaged approach growth is consistent we
is that flexibility both sheet balance a advantage grow support the opportunity organically through our as as acquisition Our dividend. well and to allows competitive us
with remarks. for closing back market and I'll And that, it to update turn a Kent
