Albemarle reported higher revenue and earnings in the third quarter of 2026, supported by improved lithium pricing in its Energy Storage segment. The company recorded net sales of $1.55 billion, up 18.8% from $1.31 billion a year earlier, while adjusted EBITDA increased 186.1% to $645.5 million.
Net income attributable to Albemarle reached $296.8 million, compared with a net loss of $160.7 million in the third quarter of 2025, according to results released on November 4.
Higher Lithium Prices Support Energy Storage Results
Energy Storage generated net sales of $1.12 billion, an increase of 57.9% year over year. The segment’s average realized price rose to $20.02 per kilogram of lithium carbonate equivalent (LCE), compared with $10.28 per kilogram in the same period last year.
Adjusted EBITDA for the segment increased 351.2% to $559.8 million. However, sales volume declined 18.8% to 56 kilotons (kT) LCE.
Albemarle attributed the lower volume primarily to timing-related factors in the prior-year period, including inventory destocking and higher-than-usual spodumene shipments. These factors made the third quarter of 2025 the segment’s highest-volume quarter on an LCE basis.
Higher lithium prices supported profitability, although the impact was partly offset by higher-cost spodumene inventory processed during the quarter and increased commissions in Chile.
Chairman and CEO Kent Masters said global lithium demand increased 48% year to date through August, driven by electric vehicles and energy storage. He said the trend was “reinforcing our confidence in the long-term outlook for the industry.”
Fourth-Quarter Energy Storage Outlook
Albemarle expects Energy Storage net sales and adjusted EBITDA to decline sequentially in the fourth quarter, reflecting lower market prices while sales volumes remain steady.
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The company also expects lower segment margins as it processes higher-cost spodumene inventory purchased in earlier periods.
Production Developments and 2026 Guidance
Talison’s Chemical Grade Plant 3 (CGP3) achieved 30 days of nameplate performance in September. Albemarle said its full-year sales volume outlook remains at 225,000 to 235,000 metric tons LCE.
Higher production from Wodgina is expected to partly offset a delay in the CGP3 ramp-up following a fire on June 9.
The company also reduced its 2026 capital expenditure outlook to $300 million to $350 million, from approximately $500 million.
Albemarle’s full-year revenue and adjusted EBITDA projections vary according to lithium market price assumptions:
| Average lithium market price (LCE) | Total net sales | Total adjusted EBITDA |
|---|---|---|
| Approximately $10/kg | $4.1–$4.3 billion | $0.9–$1.0 billion |
| Approximately $20/kg | $5.7–$6.0 billion | $2.4–$2.6 billion |
| Approximately $30/kg | $7.5–$7.8 billion | $4.2–$4.4 billion |
The three scenarios are based on average lithium prices of approximately $10 per kilogram, reflecting the 2025 average; $20 per kilogram, reflecting the first-quarter 2026 average; and $30 per kilogram, reflecting the 2021–2025 average.
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Specialties Segment Also Reports Growth
Albemarle’s Specialties segment recorded net sales of $389 million, an increase of 13% year over year.
Following the quarterly performance, the company raised its full-year Specialties adjusted EBITDA outlook to $350 million to $375 million, compared with its previous range of $275 million to $325 million.