Albemarle reports strong earnings

Charlotte, NC — Albemarle Corp., reported sharply higher first-quarter earnings driven by stronger pricing and demand in its energy storage and specialty materials businesses.

The company posted net income of $319.1 million, or $2.34 per diluted share, for the quarter ended March 31, 2026, compared with $41.3 million, or breakeven on a per-share basis, a year earlier.

On an adjusted basis, earnings were $2.95 per share, the company said.

Revenue rose 33% to $1.43 billion, fueled by higher volumes and prices in its energy storage and specialty segments. Energy storage sales increased 70% to $891.2 million, with pricing up 51% and volumes up 14%. Specialty sales also increased during the quarter.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 148% to $663.8 million, the company said.

Chairman and CEO Kent Masters said the company saw “a strong start to 2026,” supported by higher pricing, increased volumes and cost-cutting initiatives.

“We also took advantage of our successful cash and portfolio management actions to pay down debt in the quarter,” Masters said, adding that Albemarle remains focused on operational efficiency and cash generation.

The company reported cash from operations of $346.2 million and free cash flow of $247.6 million. It also said it reduced debt by $1.3 billion during the quarter.

Albemarle said its results were supported by cost and productivity improvements totaling $40 million, with a full-year target of $100 million to $150 million.

The company also noted changes in its portfolio, including divestitures and restructuring actions, as it continues to streamline operations and focus on its core lithium and specialty materials businesses.

Albemarle maintained its full-year capital spending forecast of $550 million to $600 million.