Albemarle
Q2 2022 Earnings Call
Aug 04, 2022, 9:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Hello, everyone, and welcome to the Q2 2022 Albemarle Corporation earnings conference call. My name is Nadia, and I'll be coordinating the call today. [Operator instructions] I will now hand over to your host, Meredith Bandy, vice president of investor relations and sustainability, to begin. Meredith, please go ahead.
Meredith Bandy -- Vice President of Investor Relations and Sustainability
Thank you, Nadia, and welcome, everyone, to Albemarle's second quarter 2022 earnings conference call. Our earnings were released after the close of market yesterday, and you'll find our press release and earnings presentation posted to our website under the Investors section at albemarle.com. Joining me on the call today are Kent Masters, chief executive officer; and Scott Tozier, chief financial officer. Raphael Crawford, president catalyst; Netha Johnson, president bromine; and Eric Norris, president lithium, are also available for Q&A.
As a reminder, some of the statements made during this call, including our outlook, guidance, expected company performance and timing of expansion projects may constitute forward-looking statements within the meaning of federal securities laws. Please note the cautionary language about forward-looking statements contained in our press release and earnings presentation. That same language applies to this call. Please also note that some of our comments today refer to non-GAAP financial measures.
A reconciliation to GAAP financial measures can be found in our earnings release in the appendix of these slides. And now, I'll turn the call over to Kent.
Jerry Masters -- Chairman, President, and Chief Executive Officer
Thanks, Meredith, and thank you all for joining us today. On today's call, I will highlight our second quarter results and achievements. Scott will provide more details on our financial results, outlook, balance sheet and capital allocation. I will then close our prepared remarks with an update on our operating model and strategic growth projects aimed at further strengthening our long-term financial performance and sustainable competitive advantages.
Albemarle's leadership positions in lithium and bromine, coupled with our team's ability to execute through the current inflationary environment led to another quarter of strong results. In the second quarter, we generated net sales of $1.5 billion, nearly double the prior year. Second quarter adjusted EBITDA of $610 million was over three times the prior year, continuing the trend of EBITDA significantly outpacing sales growth. The supply demand balances remain tight in the markets we serve.