Key Takeaways
- ICL reported Q1 2026 consolidated sales of $2.0 billion, up 14% year-over-year, with growth recorded across all four segments: Industrial Products, Potash, Phosphate Solutions, and Growing Solutions.
- Adjusted EBITDA rose 15% to $412 million, with adjusted net income up 26% to $139 million and adjusted diluted EPS up 22% to $0.11, supported by higher bromine and potash prices.
- Potash was the standout segment, with sales up 24% to $503 million and EBITDA up 46% to $172 million, driven by a potash price of $362/ton CIF, up 21% year-over-year, and higher volumes to China and Brazil.
- ICL raised its full-year 2026 adjusted EBITDA guidance by $100 million to $1.5-$1.7 billion, citing continued elevated bromine and potash prices and confidence in its pricing environment outlook.
- The quarter included the acquisition of Bartek Ingredients and the opening of a specialty fertilizer facility in Maharashtra, India, with the Board declaring a Q1 2026 dividend of 5.35 cents per share, payable June 17, 2026.
ICL (NYSE: ICL; TASE: ICL), a leading global specialty minerals company, reported first-quarter 2026 financial results with consolidated sales of $2.0 billion, up 14% year-over-year, and adjusted EBITDA of $412 million, up 15%. All four business segments recorded sales growth, and the company raised its full-year 2026 adjusted EBITDA guidance by $100 million to a range of $1.5 billion to $1.7 billion.
ICL Q1 2026 Group Financial Performance
Sales grew to $2.023 billion from $1.767 billion in Q1 2025. Gross profit increased to $626 million at a 31% margin. Operating income rose to $235 million from $185 million, while adjusted operating income grew 21% to $252 million. Net income attributable to shareholders reached $126 million, up from $91 million, with adjusted net income up 26% to $139 million. Cash flows from operating activities were $195 million, up from $165 million. Available liquidity stood at $1.491 billion as of March 31, 2026, with net financial liabilities of $2.569 billion.
“ICL delivered solid growth across all key financial metrics in the first quarter, including a 14% increase in sales, a 15% increase in adjusted EBITDA and adjusted EPS improvement of 22%, with sales growth in all four business segments. This successful performance was achieved as the company demonstrated exceptional execution and operational resilience, while continuing to benefit from our distinctive global presence with regionally diversified operations,” said Elad Aharonson, President and CEO of ICL.
Potash: Standout Segment Performance
Potash sales grew 24% to $503 million, with EBITDA rising 46% to $172 million. The potash price reached $362 per ton (CIF), up 21% year-over-year and 4% sequentially. Sales volumes reached 1,190 thousand metric tons, up 87 thousand metric tons year-over-year, driven by higher shipments to China and Brazil. Production volumes increased 115 thousand metric tons year-over-year to 1,177 thousand metric tons. ICL Iberia improved production by approximately 10% through continued efficiency efforts. ICL maintains its full-year potash sales volume guidance of 4.5 to 4.7 million metric tons.
Other Segments and Strategic Developments
Industrial Products sales were broadly flat at $349 million (+1%), with EBITDA up 13% to $86 million on higher bromine pricing and improved electronics end-market demand. Phosphate Solutions sales grew 18% to $679 million, driven by commodity phosphate strength amid Middle East-related price momentum, though EBITDA declined slightly to $131 million as specialties performance reflected broader market dynamics. Growing Solutions sales increased 11% to $551 million, with EBITDA of $49 million, supported by specialty agriculture volume growth in China and Europe and a new water-soluble fertilizer production facility opened in Maharashtra, India during the quarter.
ICL Raises Full-Year Guidance and Declares Dividend
ICL raised its full-year 2026 adjusted EBITDA guidance to $1.5-$1.7 billion, up $100 million from the prior range of $1.4-$1.6 billion. The Board of Directors declared a Q1 2026 dividend of 5.35 cents per share (approximately $69 million), up from 4.26 cents per share in Q1 2025, payable June 17, 2026 to shareholders of record as of June 2, 2026.
“After this successful first quarter, where we benefitted from higher bromine and potash prices which are expected to remain elevated, we are raising our guidance by $100 million. Looking ahead, we expect to continue to benefit from the current pricing environment, and we will also work to manage raw material costs and other headwinds by swiftly navigating changes in market conditions,” Aharonson added.
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