Albemarle Sees FY2026 Sales $5.700B-$6.000B vs $5.640B Est (Assuming average lithium price of ~$20/kg)
Albemarle Corporation ALB | 178.09 | -0.21% |
2026 Outlook Considerations
Total Corporate Outlook Considerations
The table below reflects expected outcomes for the total company based on recently observed lithium market price scenarios. Outlook ranges for each scenario are based on variation in sales volume and product mix. Energy Storage production volumes are expected to increase year-over-year. Sales volumes are expected to be approximately flat following inventory drawdowns that occurred in 2025. All three scenarios assume flat market pricing flowing through Energy Storage's current contract book which includes approximately 40% of salts volume on long-term agreements. Scenarios also assume that spodumene pricing averages 10% of the lithium carbonate equivalent (LCE) price, while other costs are assumed to be constant.
Total Corporate FY 2026E Including Energy Storage Scenarios |
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| Observed market price case(a) | FY 2025 avg. | Jan. 2026 avg. | 2021-2025 avg. |
| Average lithium market price ($/kg LCE)(a) | ~$10 | ~$20 | ~$30 |
| Net sales | $4.1 - $4.3 billion | $5.7 - $6.0 billion | $7.5 - $7.8 billion |
| Adjusted EBITDA(b) | $0.9 - $1.0 billion | $2.4 - $2.6 billion | $4.2 - $4.4 billion |
| (a) | Price represents blend of relevant market pricing including spot and regional indices for the periods referenced. |
| (b) | The Company does not provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP, as the company is unable to estimate significant non-recurring or unusual items without unreasonable effort. See "Additional information regarding Non-GAAP Measures" for more information. |
Energy Storage Market Price Scenarios
| Energy Storage FY 2026E | |||
| Observed market price case(a) | FY 2025 avg. | Jan. 2026 avg. | 2021-2025 avg. |
| Average lithium market price ($/kg LCE)(a) | ~$10 | ~$20 | ~$30 |
| Net sales | $2.5 - $2.6 billion | $4.0 - $4.2 billion | $5.9 - $6.1 billion |
| Adjusted EBITDA | $0.7 - $0.8 billion | $2.1 - $2.3 billion | $3.9 - $4.1 billion |
| Equity in net income of unconsolidated investments (net of tax)(b) | $0.2 - $0.3 billion | $0.6 - $0.7 billion | $1.0 - $1.1 billion |
| (a) | Price represents blend of relevant market pricing including spot and regional indices for the periods referenced. |
| (b) | Included in adjusted EBITDA on a pre-tax basis. |
Specialties Outlook Considerations
Specialties outlook reflects modest volume growth in key end markets led by semiconductor and pharmaceutical partially offset by expected softness in automotive, building and construction and oil and gas.
Net sales are expected to be flat to down and adjusted EBITDA is expected to be lower in 2026 compared to 2025 due, in part, to lithium specialties pricing, which has adjusted lower from the previous peak, and reduced demand for clear brine fluids due to weakness in oil and gas markets. Production volume in 2026 is expected to be impacted by a major flooding event that occurred at our Jordan Bromine Company (JBC) joint venture in January 2026. JBC has since returned to full operating rates.
| Segment FY 2026E | |
| Specialties net sales | $1.2 - $1.4 billion |
| Specialties adjusted EBITDA | $170 - $230 million |
Other Corporate Outlook Considerations
Following the sale of a controlling stake in Ketjen, which is expected to close in the first quarter of 2026, the refining catalyst business earnings will be classified as equity income and included in Corporate, as will the results of the retained Performance Catalyst Solutions (PCS) business. The EBITDA and equity income contributions from these are expected to be immaterial post transaction.
Albemarle expects its 2026 capital expenditures to be roughly flat compared to 2025, in the range of $550 million to $600 million.
| Other Corporate FY 2026E | |
| Capital expenditures | $550 - $600 million |
| Depreciation and amortization | $660 - $680 million |
| Adjusted effective tax rate(a) | (50%) - 30% |
| Corporate adjusted EBITDA (incl. FX, Ketjen equity income & PCS) | ($20) - $20 million |
| Interest and financing expenses | $150 - $170 million |
| Weighted-average common shares outstanding (diluted) | ~118 million |