Albemarle earnings: guidance and what to watch
MyStockButler's October 2026 analysis: Albemarle's next results are expected on November 4, 2026. Watch third-quarter Energy Storage sales and EBITDA.
What has Albemarle guided for 2026?
Albemarle makes lithium materials for batteries, so its profit depends heavily on a price it does not set. Management’s 2026 cases range from $10 to $30 per kilogram, with a middle case between them. At $10 per kilogram, the company guides to sales of $4.1–4.3 billion. Adjusted EBITDA, a measure of operating earnings before interest, taxes and depreciation, is $900 million–$1 billion in that case. At $30 per kilogram, guided sales rise to $7.5–7.8 billion. Adjusted EBITDA rises to $4.2–4.4 billion. The gap shows the leverage to lithium prices, but does not predict which case will occur.
Management has more control over spending. The 2026 capital target is $500 million, alongside $100–150 million of annualized cost and productivity improvements. “Annualized” means a saving achieved late in the year may count toward the future operating rate without producing a full year of cash savings immediately.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Total Corporate, Net sales — FY 2025 average, $10/kg LCE case | Year to Dec 2026 | 4,100 | 4,300 | Aug 5, 2026 |
| Total Corporate, Adjusted EBITDA — FY 2025 average, $10/kg LCE case | Year to Dec 2026 | 900 | 1,000 | Aug 5, 2026 |
| Energy Storage, Net sales — FY 2025 average, $10/kg LCE case | Year to Dec 2026 | 2,500 | 2,600 | Aug 5, 2026 |
| Total Corporate, Net sales — Q1 2026 average, $20/kg LCE case | Year to Dec 2026 | 5,700 | 6,000 | Aug 5, 2026 |
| Total Corporate, Adjusted EBITDA — Q1 2026 average, $20/kg LCE case | Year to Dec 2026 | 2,400 | 2,600 | Aug 5, 2026 |
| Capital expenditures | Year to Dec 2026 | 500 | 500 | Aug 5, 2026 |
What this means. The three sets of numbers are different price scenarios for 2026, not three separate forecasts the company expects to happen.
Did Albemarle keep its past promises?
The forecasting record is mixed. It supports neither automatic distrust nor confidence that every promise will be met. The useful distinction is whether management adapts intelligently when conditions change and whether it predicted those conditions accurately.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Capital Expenditures | 5 years | 2 | 2 | 1 |
| Depreciation and Amortization | 5 years | 0 | 2 | 3 |
| Interest and financing expenses | 5 years | 2 | 2 | 1 |
What is Albemarle's eight-quarter revenue and profit trend?
Albemarle’s operating recovery is substantial, but reported profit mixes ordinary operations with accounting shocks.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,743,313 | 1,428,731 | 1,428,031 | 1,307,829 | 1,329,992 | 1,076,881 | 1,231,713 | 1,354,692 |
| Gross margin | 33.9% | 35.1% | 13.9% | 9.0% | 14.8% | 14.5% | 11.2% | -7.7% |
| Operating income | 452,944 | 233,506 | -217,386 | -216,986 | 47,527 | 19,761 | 4,402 | -1,108,830 |
| Net income | 479,959 | 319,091 | -414,179 | -160,694 | 22,897 | 41,348 | 75,293 | -1,068,992 |
| EPS, diluted | 3.52 | 2.34 | -3.87 | -1.72 | -0.16 | -0.00 | 0.29 | -9.45 |
| = Free cash flow | 638,266 | 247,568 | 233,100 | 223,438 | -128,655 | 364,583 | -347,189 | -76,019 |
What this means. Free cash flow is not profit: it is the cash left after buying equipment and buildings, so it can be negative even when the company reports a profit.
What should I watch in Albemarle's next results?
The next scheduled earnings checkpoint is November 4, 2026. Management expects third-quarter Energy Storage sales and EBITDA to fall sequentially because of lower volumes, pricing and the timing of spodumene inventories.