12 Best Battery Stocks to Buy According to Billionaires

7. Albemarle Corporation (NYSE:ALB)

Number of Billionaire Investors: 11

Albemarle Corporation (NYSE:ALB) is a major force in the global energy storage sector, making essential lithium compounds for EV batteries and renewable energy storage. The company operates through three segments: Energy Storage, Specialties, and Ketjen. Furthermore, Albemarle’s lithium carbonate and hydroxide products are significant for battery makers to meet the rapidly rising demand for electric vehicles and grid storage solutions.

For Q4 ended December 31, 2024, Albemarle Corporation (NYSE:ALB) posted a revenue of $1.2 billion, which was a year-over-year decrease. This decrease was driven by a decline in the lithium prices. Still, adjusted EBITDA reached $251 million, with improvements recorded in all of the company’s segments.

Moreover, net sales totaled $5.4 billion for the full year, bolstered by a 26% YoY increase in lithium sales volumes. As a result of it, the company generated $702 million in operating cash flow, beating its target while cutting corporate costs and boosting cost efficiencies.

Albemarle Corporation (NYSE:ALB) is maintaining its financial stability through optimization of its lithium conversion network. The company plans to place its Chengdu lithium facility on care and maintenance by mid-2025, while making adjustments to its Qinzhou site’s production.

Despite the ongoing challenges across the market, Albemarle expects a slight volume increase in 2025, due to the progress of new projects and stable contract commitments. This is evident through the fact that the company was able to secure a $350 million customer prepayment for lithium sales over the next five years.

As lithium remains a crucial part of the EV supply chain, Albemarle Corporation (NYSE:ALB) is adamant about gaining long-term demand for battery materials as it puts confidence in its cost-cutting strategies and improved efficiency. Thus, Albemarle ranks among the best battery stocks.