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Albemarle (ALB) investor relations material
Albemarle Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Q3 2025 net sales were $1.3 billion, with volumes up 6–8% year-over-year in Energy Storage and Ketjen, and record lithium production despite lower prices.
Adjusted EBITDA rose 7% year-over-year to $226 million, driven by cost and efficiency improvements, with Specialties leading growth.
Net loss attributable to shareholders narrowed to $(161)–$(202.4) million, a significant improvement from the prior year's $(1.1) billion loss, mainly due to prior-year restructuring charges.
Cash from operations for Q3 was $356 million, up 57% year-over-year; year-to-date cash from operations reached $894 million, up 29%.
Announced agreements to sell stakes in Ketjen and Eurecat JV for combined pre-tax proceeds of ~$660 million, with a $181 million goodwill impairment charge recorded.
Financial highlights
Adjusted EBITDA margin improved to 17–17.3% in Q3 2025, up 150 basis points year-over-year.
Net loss per diluted share was $(1.72); adjusted diluted loss per share was $(0.19), mainly due to a non-cash goodwill impairment in Ketjen.
Gross margin for Q3 2025 was $117.6–$118 million, a significant improvement from a loss in Q3 2024.
Net debt to adjusted EBITDA ratio was approximately 2.1x as of September 30, 2025.
Cash and cash equivalents at September 30, 2025 were $1.9–$1.93 billion.
Outlook and guidance
Full-year 2025 results are expected at the upper end of the $9/kg lithium price scenario, with Energy Storage sales volume growth projected at 0–10% year-over-year.
FY 2025 net sales projected at $6.5–$7.0 billion; adjusted EBITDA at $0.8–$1.0 billion under the $9/kg scenario.
Positive free cash flow of $300–$400 million and capital expenditures of ~$600 million expected for 2025, a 65% reduction year-over-year.
Specialties segment is expected to see higher net sales and profitability in 2025, while Ketjen results are forecasted to increase, driven by favorable FCC volumes.
Q4 EBITDA for energy storage is expected to be slightly higher sequentially, with a favorable product mix and higher spodumene prices.
Ketjen impairment vs. announced sale proceeds
Future capital deployment with positive free cash flow
Drivers of adjusted effective tax rate volatility
Spodumene value capture: How does this shape new project investment?
Ketjen sale proceeds: Specific use beyond deleveraging?
Inventory reduction: How does this affect 2026 volume growth?
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Frequently asked questions
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. The Company's products and services serve industries such as petroleum refining, consumer electronics, plastics, construction, automotive, lubricants, pharmaceuticals , crop protection, food safety , and custom chemistry services to improve the quality of life. Albemarle is committed to global sustainability and is advancing its eco-practices and solutions in its three business segments, Polymer Solutions, Catalysts and Fine Chemistry.
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