ICL Raises FY26 EBITDA Guidance After Q1 Sales Rise 14% to $2.0 Billion
13 May 2026, Israel: ICL reported higher sales, operating income and adjusted EBITDA for the first quarter of 2026, supported by stronger potash and bromine pricing, improved volumes in several markets, and growth across all four business segments. Following the quarterly performance, the company increased its full-year 2026 adjusted EBITDA guidance to between $1.5 billion and $1.7 billion, compared with its earlier guidance of $1.4 billion to $1.6 billion.
The company posted first-quarter sales of $2.023 billion, compared with $1.767 billion in the corresponding period last year. Operating income increased to $235 million from $185 million, while adjusted EBITDA rose to $412 million from $359 million. Adjusted net income attributable to shareholders stood at $139 million, up from $110 million a year earlier.
ICL President and CEO Elad Aharonson said the company benefited from higher bromine and potash prices during the quarter and continued to advance its strategy focused on specialty crop nutrition and specialty food solutions. The quarter also included the acquisition of Bartek Ingredients and the establishment of a specialty fertilizer production facility in India.
Key Financial Performance
| Financial Metric | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Sales | $2.023 billion | $1.767 billion | Up 14% |
| Gross Profit | $626 million | $560 million | Up 12% |
| Operating Income | $235 million | $185 million | Up 27% |
| Adjusted Operating Income | $252 million | $208 million | Up 21% |
| Net Income Attributable to Shareholders | $126 million | $91 million | Up 38% |
| Adjusted Net Income | $139 million | $110 million | Up 26% |
| Adjusted EBITDA | $412 million | $359 million | Up 15% |
| Diluted EPS | $0.10 | $0.07 | Up 43% |
| Adjusted Diluted EPS | $0.11 | $0.09 | Up 22% |
| Cash Flow from Operations | $195 million | $165 million | Up 18% |
Industrial Products Business
ICL’s Industrial Products segment recorded sales of $349 million during the quarter, marginally higher than $344 million in the same period last year. EBITDA increased 13% to $86 million. The business benefited mainly from higher prices, particularly in bromine-based flame retardants. Improved demand from the electronics sector supported bromine-based products, while phosphorous-based solutions remained affected by softer construction demand.
The company also reported stronger demand for specialty magnesia used in pharmaceutical and food applications, along with seasonal demand for deicing products in North America. However, lower elemental bromine volumes and delayed activity in clear brine fluids weighed on some categories.
Potash Business
The Potash segment delivered the strongest growth among ICL’s businesses during the quarter. Sales increased 24% year-on-year to $503 million, while EBITDA rose 46% to $172 million. Average potash prices reached $362 per tonne on a CIF basis, up 21% from a year earlier and 4% sequentially.
Potash sales volumes increased to 1.19 million metric tonnes, mainly due to stronger shipments to China and Brazil. Production volumes also increased, supported by operational improvements at ICL Dead Sea and ICL Iberia facilities.
The company maintained its full-year potash sales volume outlook at between 4.5 million and 4.7 million metric tonnes.
Phosphate Solutions Business
ICL’s Phosphate Solutions segment reported sales of $679 million, up 18% compared with the previous year, although EBITDA declined to $131 million from $139 million. The company said the quarter reflected stronger commodity phosphate markets, while specialty phosphate performance aligned with prevailing market conditions.
Food-grade white phosphoric acid sales increased due to higher prices and improved volumes in Europe and South America. Tech-grade phosphoric acid sales also increased significantly, especially in Asia. Food phosphate sales registered slight growth due to stronger volumes in China and North America, while industrial phosphate sales declined because lower global volumes offset price gains in Europe.
The company also noted increased price volatility in commodity phosphates following geopolitical developments in the Middle East.
Growing Solutions Business
The Growing Solutions segment reported sales of $551 million, an increase of 11% from the previous year, while EBITDA rose 4% to $49 million. The business continued to focus on region-specific specialty agriculture solutions.
Europe recorded higher sales and profitability due to stronger prices, volumes and favourable exchange rates. In Asia, sales increased due to higher prices and volumes, although profitability remained under pressure from raw material costs. North America sales remained stable, while Brazil reported lower volumes despite positive currency effects.
ICL also established a new specialty and water-soluble fertilizer production facility in Maharashtra, India, aimed at strengthening local manufacturing capabilities and improving supply-chain resilience. Specialty agriculture sales increased due to higher volumes in China and Europe, while turf and ornamental product sales also improved during the quarter.
Dividend and Debt Position
ICL declared a dividend of 5.35 cents per share for the quarter, amounting to approximately $69 million, compared with 4.26 cents per share or about $55 million in the corresponding quarter last year. The dividend will be paid on June 17, 2026.
As of March 31, 2026, the company’s net financial liabilities stood at $2.569 billion, an increase partly linked to borrowings associated with the acquisition of Bartek Ingredients earlier this year. Available liquidity totaled $1.491 billion.
Also Read: UPL Limited FY26 Revenue Climbs 11% to ₹51,839 Crore, Advanta Surges 23% YoY
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