ICL Reports 3% Growth in Q3 2026 Sales, Adjusted EBITDA Rises to $402 Million
11 November 2026, Israel: Global specialty minerals company ICL reported a 3% increase in consolidated sales for the third quarter ended September 30, 2026, supported by growth across its diversified food, industrial and agricultural businesses.
The company reported consolidated sales of $1.91 billion, compared with $1.85 billion in the corresponding quarter of 2025. Net income attributable to shareholders increased to $120 million from $115 million, while adjusted net income rose 2% to $126 million.
Adjusted EBITDA stood at $402 million, up 1% from $398 million in the third quarter of 2025. Gross profit increased to $628 million from $604 million, with gross margin improving to 32.9%, compared with 32.6% a year earlier. Operating income, however, declined to $225 million from $230 million.
Operating cash flow during the quarter was $256 million, while free cash flow amounted to $66 million. Diluted earnings per share remained at $0.09, while adjusted diluted earnings per share stood at $0.10.
Commenting on the results, Elad Aharonson, President and CEO of ICL, said the company delivered growth in sales, net income and adjusted EBITDA despite record-high raw material prices, elevated freight and logistics costs, and foreign exchange fluctuations.
He added that targeted price increases across key end markets, along with effective cost management and optimisation of production capacity, supported the company’s performance. ICL reported a gross margin of 32.9%, its highest level since the fourth quarter of 2024.
Performance Across Business Segments
ICL’s Industrial Products segment reported sales of $347 million, an increase of 18% compared with $295 million in the corresponding quarter last year. EBITDA increased 49% to $100 million from $67 million, supported by higher bromine prices and increased sales volumes.
The Potash segment recorded sales of $469 million, up 4% year-on-year from $453 million. EBITDA, however, declined to $157 million from $169 million. Potash sales volumes reached 1.09 million metric tonnes, an increase of 44,000 metric tonnes compared with the previous year. The average potash price was $370 per tonne (CIF), up 4.8% year-on-year.
In the Phosphate Solutions segment, sales declined to $589 million from $605 million, while EBITDA decreased to $118 million from $134 million. The performance was affected by significantly higher raw material costs, partly offset by pricing actions across major markets. Food phosphates recorded higher sales, supported by improved pricing, new business growth and expansion in China. Industrial phosphates also benefited from pricing actions and sustained battery demand for electric vehicles in China.
The Growing Solutions segment reported sales of $538 million, compared with $561 million in the third quarter of 2025. EBITDA stood at $44 million, against $50 million a year earlier. Performance varied across regions, with higher raw material costs and weaker demand affecting Brazil, while North America experienced pressure on gross profit amid challenging agricultural market conditions. Asia recorded growth in sales and gross profit, although demand remained mixed across markets.
Specialty agriculture sales remained broadly flat, as higher prices were offset by lower volumes. The turf and ornamental business recorded growth, supported by improved pricing and new product introductions.
ICL Maintains 2026 Financial Guidance
ICL reiterated its full-year 2026 adjusted EBITDA guidance of $1.5 billion to $1.7 billion. The company also maintained its expected potash sales volume range of 4.5 million to 4.7 million metric tonnes.
Looking ahead to 2027, Aharonson said the company expects to enter the year from a position of strength, supported by its diversified business portfolio and balance sheet. He highlighted the company’s new segment structure, which is intended to sharpen its focus on core businesses and growth opportunities. The ELEVATE programme is also expected to begin delivering meaningful cost savings.
As of September 30, 2026, ICL reported available liquidity of $2.15 billion, while net financial liabilities stood at $2.63 billion.
The company’s Board of Directors also declared a dividend of 4.88 cents per share, amounting to approximately $63 million. The dividend is scheduled to be paid on December 16, 2026, to shareholders on record as of December 2, 2026.
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