Albemarle (ALB) Q2 2026 earnings summary

Executive summary

• Q2 2026 net sales reached $1.74 billion, up 31% year-over-year, driven by strong pricing and volume growth in Energy Storage and Specialties.

• Adjusted EBITDA rose 155% to $858 million, with a margin of 49%, reflecting robust performance and cost/productivity improvements.

• Net income attributable to shareholders was $480 million, with diluted EPS of $3.52.

• Cash from operations was $710 million, with free cash flow of $638 million and operating cash flow conversion above 80%.

• Major divestitures and debt reduction actions were completed, supporting a strong balance sheet.

Financial highlights

• Energy Storage Q2 net sales were $1.28 billion (+78% YoY), with adjusted EBITDA up 229% to $724 million and a 57% margin.

• Specialties Q2 net sales were $424 million (+20% YoY), with adjusted EBITDA up 61% to $118 million and a 28% margin.

• Adjusted diluted EPS was $3.75, up from $0.11 in Q2 2025.

• Gross margin improved to 33.9% from 14.8% year-over-year.

• Net debt to adjusted EBITDA ratio was 0.5 as of June 30, 2026.

Outlook and guidance

• Full-year 2026 Specialties net sales outlook raised to $1.4–$1.6 billion and adjusted EBITDA to $275–$325 million.

• Energy Storage FY 2026 sales volumes expected at 225,000–235,000 tons LCE, flat to slightly down due to the CGP3 fire, partially offset by Wodgina outperformance.

• Full-year capital expenditures forecast reduced to ~$500 million, down from 2025.

• Third quarter net sales and EBITDA expected to decrease sequentially due to lower volumes and pricing.

• Outlook includes $70–$90 million estimated full-year impact from Middle East supply chain disruptions.