$ALB-PA

ALBEMARLE CORP

CIK:0000915913|SEC Filings

Consolidated Statements of Loss - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Income Statement [Abstract]

Net sales

$ 1,743,313

$ 1,329,992

$ 3,172,044

$ 2,406,873

Cost of goods sold

^[1]

1,153,012

1,133,116

2,080,777

2,053,698

Gross profit

590,301

196,876

1,091,267

353,175

Selling, general and administrative expenses

126,353

132,457

263,759

255,959

Restructuring charges and asset write-offs

7,337

4,448

33,203

3,385

Research and development expenses

3,667

12,444

12,837

26,543

Loss on sale of business

95,018

Operating profit

452,944

47,527

686,450

67,288

Interest and financing expenses

(30,924)

(49,939)

(64,045)

(98,916)

Other income (expenses), net

19,629

(6,559)

73,439

3,691

Income (loss) before income taxes and equity in net income of unconsolidated investments

441,649

(8,971)

695,844

(27,937)

Income tax expense

94,002

34,094

115,513

30,116

Income (loss) before equity in net income of unconsolidated investments

347,647

(43,065)

580,331

(58,053)

Equity in net income of unconsolidated investments (net of tax)

151,564

78,258

247,857

142,544

Net income

499,211

35,193

828,188

84,491

Net income attributable to noncontrolling interests

(19,252)

(12,296)

(29,138)

(20,246)

Net income attributable to Albemarle Corporation

479,959

22,897

799,050

64,245

Mandatory convertible preferred stock dividends

(41,687)

(83,375)

Net income (loss) attributable to Albemarle Corporation common shareholders

$ 438,272

$ (18,790)

$ 715,675

$ (19,130)

Basic earnings (loss) per share attributable to common shareholders (in dollars per share)

$ 3.72

$ (0.16)

$ 6.07

$ (0.16)

Diluted earnings (loss) per share attributable to common shareholders (in dollars per share)

$ 3.52

$ (0.16)

$ 5.87

$ (0.16)

Weighted-average common shares outstanding - basic (in shares)

117,961

117,665

117,907

117,634

Weighted-average common shares outstanding - diluted (in shares)

136,212

117,665

136,170

117,634

[1]	Included purchases from related unconsolidated affiliates of $322.5 million and $158.6 million for the three-month periods ended June 30, 2026 and 2025, respectively, and $450.7 million and $278.5 million for the six-month periods ended June 30, 2026 and 2025, respectively.

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Statement of Cash Flows [Abstract]
Cash and cash equivalents at beginning of year	$ 1,618,001	$ 1,192,230
Cash flows from operating activities:
Net income	828,188	84,491
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization	313,606	330,485
Loss on sale of business	95,018	0
Gain on sale of equity investment	(42,300)	0
Stock-based compensation and other	14,661	17,068
Equity in net income of unconsolidated investments (net of tax)	(247,857)	(142,544)
Dividends received from unconsolidated investments and nonmarketable securities	131,744	67,765
Pension and postretirement expense	5,299	3,504
Pension and postretirement contributions	(14,298)	(9,934)
Unrealized (gain) loss on investments in marketable securities	(2,792)	4,984
Gain on early extinguishment of debt	(12,543)	0
Deferred income taxes	(19,798)	(38,907)
Working capital changes	(53,125)	(96,762)
Noncurrent liability changes and other, net	60,438	318,030
Net cash provided by operating activities	1,056,241	538,180
Cash flows from investing activities:
Capital expenditures	(170,407)	(302,252)
Proceeds from sale of businesses, net of cash sold	525,156	0
Proceeds from sale of property and equipment	0	23,751
Proceeds from sale of investments	123,270	0
Proceeds from sale of available for sale debt securities	0	288,000
(Payments) proceeds from settlement of foreign currency forward contracts, net	(18,772)	171,262
Sales of marketable securities, net	1,392	2,971
Investments in equity investments and nonmarketable securities	(119)	(120)
Net cash provided by investing activities	460,520	183,612
Cash flows from financing activities:
Repayments of long-term debt and credit agreements	(1,314,151)	(29,103)
Proceeds from borrowings of long-term debt and credit agreements	35,952	19,488
Other debt repayments, net	(12,309)	(2,427)
Fees related to early extinguishment of debt	(1,686)	0
Dividends paid to common shareholders	(95,372)	(95,244)
Dividends paid to mandatory convertible preferred shareholders	(83,375)	(83,375)
Dividends paid to noncontrolling interests	(37,463)	(18,169)
Proceeds from exercise of stock options	19,635	1,186
Withholding taxes paid on stock-based compensation award distributions	(4,199)	(2,941)
Other	(438)	(55)
Net cash used in financing activities	(1,493,406)	(210,640)
Net effect of foreign exchange on cash and cash equivalents	(9,668)	103,447
Increase in cash and cash equivalents	13,687	614,599
Cash and cash equivalents at end of period	$ 1,631,688	$ 1,806,829

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 1,631,688	$ 1,618,001
Trade accounts receivable, less allowance for credit losses (2026 – $4,582; 2025 – $4,578)	603,805	593,502
Other accounts receivable	123,870	105,110
Inventories	1,384,563	1,179,271
Other current assets	200,275	140,440
Current assets held for sale	0	371,815
Total current assets	3,944,201	4,008,139
Property, plant and equipment, at cost	11,902,156	11,768,840
Less accumulated depreciation and amortization	3,442,831	3,156,429
Net property, plant and equipment	8,459,325	8,612,411
Investments	1,109,241	900,926
Other assets	707,577	647,185
Goodwill	1,482,672	1,499,657
Other intangibles, net of amortization	202,079	214,233
Noncurrent assets held for sale	0	491,660
Total assets	15,905,095	16,374,211
Current liabilities:
Accrued expenses	507,556	521,831
Current portion of long-term debt	74,677	74,077
Dividends payable	61,514	61,387
Income taxes payable	131,703	35,467
Current liabilities held for sale	0	191,753
Total current liabilities	1,891,100	1,798,044
Long-term debt	1,802,107	3,119,464
Postretirement benefits	45,198	44,744
Pension benefits	105,729	117,361
Other noncurrent liabilities	1,158,555	1,084,892
Deferred income taxes	368,552	368,275
Noncurrent liabilities held for sale	0	59,970
Commitments and contingencies (Note 8)
Albemarle Corporation shareholders’ equity:
Common stock, $.01 par value, authorized – 275,000, issued and outstanding – 117,994 in 2026 and 117,716 in 2025	1,180	1,178
Mandatory convertible preferred stock, Series A, no par value, $1,000 stated value, authorized – 15,000, issued and outstanding – 2,300 in 2026 and 2025	2,235,105	2,235,105
Additional paid-in capital	3,048,664	3,018,213
Accumulated other comprehensive loss	(243,599)	(334,807)
Retained earnings	5,233,819	4,613,676
Total Albemarle Corporation shareholders’ equity	10,275,169	9,533,365
Noncontrolling interests	258,685	248,096
Total equity	10,533,854	9,781,461
Total liabilities and equity	15,905,095	16,374,211
Nonrelated Party
Current liabilities:
Accounts payable	670,229	779,160
Related Party
Current liabilities:
Accounts payable	$ 445,421	$ 134,369