Albemarle (ALB) Revenue — Quarter Ended Mar 31, 2024
Revenue for the quarter decreased substantially compared with both the prior quarter and the same quarter a year ago. The decline was driven by lower sales across all segments.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the quarter decreased substantially compared with both the prior quarter and the same quarter a year ago. The decline was driven by lower sales across all segments.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.4B
Revenue reported for this quarter.
Quarter-over-quarter
-42.2%
Change from the immediately preceding quarter.
Year-over-year
-47.3%
Change from the comparable year-ago quarter.
Trailing four quarters
$8.4B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $2.4B | +60.2% |
| Sep 30, 2023 | $2.3B | +10.5% |
| Dec 31, 2023 | $2.4B | -10.1% |
| Mar 31, 2024 | $1.4B | -47.3% |
Revenue performance
The reported revenue was significantly lower than the preceding quarter, reflecting a continuation of the downward trend seen in the last few periods.
Quarterly comparison
Compared with the immediately preceding quarter, revenue contracted markedly. Versus the same quarter one year earlier, the drop was even steeper, with net sales falling by a large margin.
What to watch
The sharp decline in gross profit from the year-ago period warrants close attention in future quarters.