| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | ||||
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | ||||
| Virginia | 54-1692118 | |||||||
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||||
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||||||||
| COMMON STOCK, $.01 Par Value | ALB | New York Stock Exchange | ||||||||||||
| DEPOSITARY SHARES, each representing a 1/20th interest in a share of 7.25% Series A Mandatory Convertible Preferred Stock | ALB PR A | New York Stock Exchange | ||||||||||||
| Large accelerated filer | ☒ | Accelerated filer | ☐ | |||||||||||||||||
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ | |||||||||||||||||
| Emerging growth company | ☐ | |||||||||||||||||||
| Page Number(s) | ||||||||
| EXHIBITS | ||||||||
| Item 1. | Financial Statements (Unaudited). | ||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net sales | $ | 1,743,313 | $ | 1,329,992 | $ | 3,172,044 | $ | 2,406,873 | |||||||||||||||
Cost of goods sold(a) | 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) | (41,687) | (83,375) | (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 | $ | 3.72 | $ | (0.16) | $ | 6.07 | $ | (0.16) | |||||||||||||||
| Diluted earnings (loss) per share attributable to common shareholders | $ | 3.52 | $ | (0.16) | $ | 5.87 | $ | (0.16) | |||||||||||||||
| Weighted-average common shares outstanding – basic | 117,961 | 117,665 | 117,907 | 117,634 | |||||||||||||||||||
| Weighted-average common shares outstanding – diluted | 136,212 | 117,665 | 136,170 | 117,634 | |||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net income | $ | 499,211 | $ | 35,193 | $ | 828,188 | $ | 84,491 | |||||||||||||||
| Other comprehensive income (loss), net of tax: | |||||||||||||||||||||||
| Foreign currency translation and other | 12,586 | 268,758 | 88,353 | 377,773 | |||||||||||||||||||
| Net investment hedge | 3,131 | — | 3,131 | — | |||||||||||||||||||
| Cash flow hedge | (107) | (107) | (214) | (214) | |||||||||||||||||||
| Total other comprehensive income, net of tax | 15,610 | 268,651 | 91,270 | 377,559 | |||||||||||||||||||
| Comprehensive income | 514,821 | 303,844 | 919,458 | 462,050 | |||||||||||||||||||
| Comprehensive income attributable to noncontrolling interests | (19,349) | (12,355) | (29,200) | (20,287) | |||||||||||||||||||
| Comprehensive income attributable to Albemarle Corporation | $ | 495,472 | $ | 291,489 | $ | 890,258 | $ | 441,763 | |||||||||||||||
| June 30, | December 31, | ||||||||||
| 2026 | 2025 | ||||||||||
| Assets | |||||||||||
| 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 | — | 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 | — | 491,660 | |||||||||
| Total assets | $ | 15,905,095 | $ | 16,374,211 | |||||||
| Liabilities And Equity | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable to third parties | $ | 670,229 | $ | 779,160 | |||||||
| Accounts payable to related parties | 445,421 | 134,369 | |||||||||
| 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 | — | 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 | — | 59,970 | |||||||||
Commitments and contingencies (Note 8) | |||||||||||
| Equity: | |||||||||||
| 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 | |||||||
| (In Thousands, Except Share Data) | Mandatory Convertible Preferred Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Loss | Retained Earnings | Total Albemarle Shareholders’ Equity | Noncontrolling Interests | Total Equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Shares | Amounts | Shares | Amounts | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance at March 31, 2026 | 117,885,794 | $ | 1,179 | 2,300,000 | $ | 2,235,105 | $ | 3,029,667 | $ | (259,112) | $ | 4,843,335 | $ | 9,850,174 | $ | 257,942 | $ | 10,108,116 | |||||||||||||||||||||||||||||||||||||||||
| Net income | 479,959 | 479,959 | 19,252 | 499,211 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other comprehensive income | 15,513 | 15,513 | 97 | 15,610 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock dividends declared, $0.405 per common share | (47,788) | (47,788) | (18,606) | (66,394) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mandatory convertible preferred stock cumulative dividends | (41,687) | (41,687) | (41,687) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-based compensation | 8,540 | 8,540 | 8,540 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Exercise of stock options | 99,752 | 2 | 10,716 | 10,718 | 10,718 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Issuance of common stock, net | 9,434 | — | (174) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Withholding taxes paid on stock-based compensation award distributions | (1,402) | (1) | (259) | (260) | (260) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance at June 30, 2026 | 117,993,578 | $ | 1,180 | 2,299,826 | $ | 2,235,105 | $ | 3,048,664 | $ | (243,599) | $ | 5,233,819 | $ | 10,275,169 | $ | 258,685 | $ | 10,533,854 | |||||||||||||||||||||||||||||||||||||||||
| Balance at March 31, 2025 | 117,650,568 | $ | 1,177 | 2,300,000 | $ | 2,235,105 | $ | 2,991,389 | $ | (633,136) | $ | 5,433,704 | $ | 10,028,239 | $ | 246,103 | $ | 10,274,342 | |||||||||||||||||||||||||||||||||||||||||
| Net income | 22,897 | 22,897 | 12,296 | 35,193 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other comprehensive income | 268,592 | 268,592 | 59 | 268,651 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock dividends declared, $0.405 per common share | (47,657) | (47,657) | — | (47,657) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mandatory convertible preferred stock cumulative dividends | (41,687) | (41,687) | (41,687) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-based compensation | 10,179 | 10,179 | 10,179 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Issuance of common stock, net | 20,396 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Withholding taxes paid on stock-based compensation award distributions | (1,713) | — | (37) | (37) | (37) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance at June 30, 2025 | 117,669,251 | $ | 1,177 | 2,300,000 | $ | 2,235,105 | $ | 3,001,531 | $ | (364,544) | $ | 5,367,257 | $ | 10,240,526 | $ | 258,458 | $ | 10,498,984 | |||||||||||||||||||||||||||||||||||||||||
| (In Thousands, Except Share Data) | Mandatory Convertible Preferred Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Loss | Retained Earnings | Total Albemarle Shareholders’ Equity | Noncontrolling Interests | Total Equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Shares | Amounts | Shares | Amounts | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance at December 31, 2025 | 117,715,875 | $ | 1,178 | 2,300,000 | $ | 2,235,105 | $ | 3,018,213 | $ | (334,807) | $ | 4,613,676 | $ | 9,533,365 | $ | 248,096 | $ | 9,781,461 | |||||||||||||||||||||||||||||||||||||||||
| Net income | 799,050 | 799,050 | 29,138 | 828,188 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other comprehensive income | 91,208 | 91,208 | 62 | 91,270 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock dividends declared, $0.81 per common share | (95,532) | (95,532) | (18,606) | (114,138) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mandatory convertible preferred stock cumulative dividends | (83,375) | (83,375) | (83,375) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-based compensation | 15,017 | 15,017 | 15,017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Exercise of stock options | 196,957 | 2 | 19,633 | 19,635 | 19,635 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Issuance of common stock, net | 131,473 | 1 | (174) | — | (1) | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Change in ownership interest of noncontrolling interest | — | — | (5) | (5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Withholding taxes paid on stock-based compensation award distributions | (50,727) | (1) | (4,198) | (4,199) | (4,199) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance at June 30, 2026 | 117,993,578 | $ | 1,180 | 2,299,826 | $ | 2,235,105 | $ | 3,048,664 | $ | (243,599) | $ | 5,233,819 | $ | 10,275,169 | $ | 258,685 | $ | 10,533,854 | |||||||||||||||||||||||||||||||||||||||||
| Balance at December 31, 2024 | 117,559,774 | $ | 1,176 | 2,300,000 | $ | 2,235,105 | $ | 2,985,606 | $ | (742,062) | $ | 5,481,692 | $ | 9,961,517 | $ | 238,171 | $ | 10,199,688 | |||||||||||||||||||||||||||||||||||||||||
| Net income | 64,245 | 64,245 | 20,246 | 84,491 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other comprehensive income | 377,518 | 377,518 | 41 | 377,559 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock dividends declared, $0.81 per common share | (95,305) | (95,305) | — | (95,305) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mandatory convertible preferred stock cumulative dividends | (83,375) | (83,375) | (83,375) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-based compensation | 17,681 | 17,681 | 17,681 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Exercise of stock options | 21,151 | — | 1,186 | 1,186 | 1,186 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Issuance of common stock, net | 126,469 | 1 | (1) | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Withholding taxes paid on stock-based compensation award distributions | (38,143) | — | (2,941) | (2,941) | (2,941) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance at June 30, 2025 | 117,669,251 | $ | 1,177 | 2,300,000 | $ | 2,235,105 | $ | 3,001,531 | $ | (364,544) | $ | 5,367,257 | $ | 10,240,526 | $ | 258,458 | $ | 10,498,984 | |||||||||||||||||||||||||||||||||||||||||
| Six Months Ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| 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 | — | |||||||||
| Gain on sale of equity investment | (42,300) | — | |||||||||
| 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) | — | |||||||||
| 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 | — | |||||||||
| Proceeds from sale of property and equipment | — | 23,751 | |||||||||
| Proceeds from sale of investments | 123,270 | — | |||||||||
| Proceeds from sale of available for sale debt securities | — | 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) | — | |||||||||
| 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 | |||||||
| December 31, 2025 | |||||
| Assets | |||||
| Trade accounts receivable | $ | 179,502 | |||
| Inventories | 188,750 | ||||
| Other current assets | 3,563 | ||||
| Current assets held for sale | 371,815 | ||||
| Property, plant and equipment, at cost | 1,043,529 | ||||
| Less accumulated depreciation and amortization | 645,438 | ||||
| Net property, plant and equipment | 398,091 | ||||
Investments(a) | 64,125 | ||||
| Other intangibles, net of amortization and other noncurrent assets | 29,444 | ||||
| Noncurrent assets held for sale | 491,660 | ||||
| Total assets held for sale | $ | 863,475 | |||
| Liabilities | |||||
| Accounts payable to third parties | $ | 116,397 | |||
| Accrued expenses and other current liabilities | 75,356 | ||||
| Current liabilities held for sale | 191,753 | ||||
| Deferred income taxes | 44,311 | ||||
| Other noncurrent liabilities | 15,659 | ||||
| Noncurrent liabilities held for sale | 59,970 | ||||
| Total liabilities held for sale | $ | 251,723 | |||
| June 30, | December 31, | ||||||||||
| 2026 | 2025 | ||||||||||
| Finished goods | $ | 832,861 | $ | 620,738 | |||||||
Raw materials and work in process(a) | 395,618 | 414,232 | |||||||||
| Stores, supplies and other | 156,084 | 144,301 | |||||||||
| Total | $ | 1,384,563 | $ | 1,179,271 | |||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Windfield | $ | 165,835 | $ | 71,762 | $ | 259,127 | $ | 126,748 | |||||||||||||||
| Other joint ventures | (14,271) | 6,496 | (11,270) | 15,796 | |||||||||||||||||||
| Total | $ | 151,564 | $ | 78,258 | $ | 247,857 | $ | 142,544 | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net sales | $ | 889,113 | $ | 296,020 | $ | 1,470,170 | $ | 586,439 | |||||||||||||||
| Gross profit | 767,295 | 169,778 | 1,220,598 | 362,482 | |||||||||||||||||||
| Income before income taxes | 658,794 | 161,354 | 1,065,456 | 306,150 | |||||||||||||||||||
| Net income | 461,155 | 112,897 | 745,819 | 214,641 | |||||||||||||||||||
| Energy Storage | Specialties | Total | |||||||||||||||
Balance at December 31, 2025(a) | $ | 1,466,959 | $ | 32,698 | $ | 1,499,657 | |||||||||||
| Foreign currency translation adjustments | (17,080) | 95 | (16,985) | ||||||||||||||
Balance at June 30, 2026(a) | $ | 1,449,879 | $ | 32,793 | $ | 1,482,672 | |||||||||||
| Customer Lists and Relationships | Patents and Technology | Other(a) | Total | ||||||||||||||||||||
| Gross Asset Value | |||||||||||||||||||||||
Balance at December 31, 2025 | $ | 384,331 | $ | 32,480 | $ | 31,451 | $ | 448,262 | |||||||||||||||
| Foreign currency translation adjustments and other | (7,309) | 1,616 | 388 | (5,305) | |||||||||||||||||||
Balance at June 30, 2026 | $ | 377,022 | $ | 34,096 | $ | 31,839 | $ | 442,957 | |||||||||||||||
| Accumulated Amortization | |||||||||||||||||||||||
Balance at December 31, 2025 | $ | (206,071) | $ | (15,262) | $ | (12,696) | $ | (234,029) | |||||||||||||||
| Amortization | (8,650) | (1,282) | (498) | (10,430) | |||||||||||||||||||
| Foreign currency translation adjustments and other | 4,076 | (335) | (160) | 3,581 | |||||||||||||||||||
Balance at June 30, 2026 | $ | (210,645) | $ | (16,879) | $ | (13,354) | $ | (240,878) | |||||||||||||||
Net Book Value at December 31, 2025 | $ | 178,260 | $ | 17,218 | $ | 18,755 | $ | 214,233 | |||||||||||||||
Net Book Value at June 30, 2026 | $ | 166,377 | $ | 17,217 | $ | 18,485 | $ | 202,079 | |||||||||||||||
| June 30, | December 31, | ||||||||||
| 2026 | 2025 | ||||||||||
1.625% notes due 2028 | $ | 568,500 | $ | 588,600 | |||||||
3.45% Senior notes due 2029 | 109,240 | 171,612 | |||||||||
4.65% Senior notes due 2027 | — | 650,000 | |||||||||
5.05% Senior notes due 2032 | 415,726 | 600,000 | |||||||||
5.45% Senior notes due 2044 | 200,966 | 350,000 | |||||||||
5.65% Senior notes due 2052 | 195,680 | 450,000 | |||||||||
| Interest-free loan | 300,000 | 300,000 | |||||||||
| Variable-rate foreign bank loans | 17,304 | 17,892 | |||||||||
| Finance lease obligations | 104,849 | 106,796 | |||||||||
| Other | 10,500 | 20,500 | |||||||||
| Unamortized discount and debt issuance costs | (45,981) | (61,859) | |||||||||
| Total long-term debt | 1,876,784 | 3,193,541 | |||||||||
| Less amounts due within one year | 74,677 | 74,077 | |||||||||
| Long-term debt, less current portion | $ | 1,802,107 | $ | 3,119,464 | |||||||
| June 30, | December 31, | ||||||||||
| 2026 | 2025 | ||||||||||
Current deferred revenue(a) | $ | 98,230 | $ | 93,090 | |||||||
Noncurrent deferred revenue(b) | 296,777 | 340,527 | |||||||||
| Total deferred revenue | $ | 395,007 | $ | 433,617 | |||||||
Beginning balance at December 31, 2025 | $ | 20,548 | |||
| Expenditures | (307) | ||||
| Accretion of discount | 446 | ||||
| Foreign currency translation adjustments and other | (113) | ||||
Ending balance at June 30, 2026 | 20,574 | ||||
| Less amounts reported in Accrued expenses | 4,031 | ||||
| Amounts reported in Other noncurrent liabilities | $ | 16,543 | |||
Foreign Currency Translation and Other(a) | Net Investment Hedge(b) | Cash Flow Hedge(c) | Total | ||||||||||||||||||||
| Three months ended June 30, 2026 | |||||||||||||||||||||||
| Balance at March 31, 2026 | $ | (263,717) | $ | — | $ | 4,605 | $ | (259,112) | |||||||||||||||
| Other comprehensive income before reclassifications | 12,569 | 3,131 | 46 | 15,746 | |||||||||||||||||||
| Amounts reclassified from accumulated other comprehensive loss | 17 | — | (153) | (136) | |||||||||||||||||||
| Other comprehensive income (loss), net of tax | 12,586 | 3,131 | (107) | 15,610 | |||||||||||||||||||
| Other comprehensive income attributable to noncontrolling interests | (97) | — | — | (97) | |||||||||||||||||||
Balance at June 30, 2026 | $ | (251,228) | $ | 3,131 | $ | 4,498 | $ | (243,599) | |||||||||||||||
| Three months ended June 30, 2025 | |||||||||||||||||||||||
| Balance at March 31, 2025 | $ | (638,169) | $ | — | $ | 5,033 | $ | (633,136) | |||||||||||||||
| Other comprehensive income before reclassifications | 268,742 | — | 165 | 268,907 | |||||||||||||||||||
| Amounts reclassified from accumulated other comprehensive loss | 16 | — | (272) | (256) | |||||||||||||||||||
| Other comprehensive income (loss), net of tax | 268,758 | — | (107) | 268,651 | |||||||||||||||||||
| Other comprehensive income attributable to noncontrolling interests | (59) | — | — | (59) | |||||||||||||||||||
Balance at June 30, 2025 | $ | (369,470) | $ | — | $ | 4,926 | $ | (364,544) | |||||||||||||||
| Six months ended June 30, 2026 | |||||||||||||||||||||||
| Balance at December 31, 2025 | $ | (339,519) | $ | — | $ | 4,712 | $ | (334,807) | |||||||||||||||
| Other comprehensive income (loss) before reclassifications | 39,022 | 3,131 | (64) | 42,089 | |||||||||||||||||||
| Amounts reclassified from accumulated other comprehensive loss | 49,331 | — | (150) | 49,181 | |||||||||||||||||||
| Other comprehensive income (loss), net of tax | 88,353 | 3,131 | (214) | 91,270 | |||||||||||||||||||
| Other comprehensive income attributable to noncontrolling interests | (62) | — | — | (62) | |||||||||||||||||||
Balance at June 30, 2026 | $ | (251,228) | $ | 3,131 | $ | 4,498 | $ | (243,599) | |||||||||||||||
| Six months ended June 30, 2025 | |||||||||||||||||||||||
| Balance at December 31, 2024 | $ | (747,202) | $ | — | $ | 5,140 | $ | (742,062) | |||||||||||||||
| Other comprehensive income (loss) before reclassifications | 377,741 | — | (66) | 377,675 | |||||||||||||||||||
| Amounts reclassified from accumulated other comprehensive loss | 32 | — | (148) | (116) | |||||||||||||||||||
| Other comprehensive income (loss), net of tax | 377,773 | — | (214) | 377,559 | |||||||||||||||||||
| Other comprehensive income attributable to noncontrolling interests | (41) | — | — | (41) | |||||||||||||||||||
Balance at June 30, 2025 | $ | (369,470) | $ | — | $ | 4,926 | $ | (364,544) | |||||||||||||||
| Foreign Currency Translation and Other | Net Investment Hedge | Cash Flow Hedge | Total | ||||||||||||||||||||
| Three months ended June 30, 2026 | |||||||||||||||||||||||
| Other comprehensive income (loss), before tax | $ | 14,437 | $ | 3,131 | $ | (107) | $ | 17,461 | |||||||||||||||
| Income tax expense | (1,851) | — | — | (1,851) | |||||||||||||||||||
| Other comprehensive income (loss), net of tax | $ | 12,586 | $ | 3,131 | $ | (107) | $ | 15,610 | |||||||||||||||
| Three months ended June 30, 2025 | |||||||||||||||||||||||
| Other comprehensive income (loss), before tax | $ | 263,101 | $ | — | $ | (107) | $ | 262,994 | |||||||||||||||
| Income tax benefit | 5,657 | — | — | 5,657 | |||||||||||||||||||
| Other comprehensive income (loss), net of tax | $ | 268,758 | $ | — | $ | (107) | $ | 268,651 | |||||||||||||||
| Six months ended June 30, 2026 | |||||||||||||||||||||||
| Other comprehensive income (loss), before tax | $ | 90,175 | $ | 3,131 | $ | (214) | $ | 93,092 | |||||||||||||||
| Income tax expense | (1,822) | — | — | (1,822) | |||||||||||||||||||
| Other comprehensive income (loss), net of tax | $ | 88,353 | $ | 3,131 | $ | (214) | $ | 91,270 | |||||||||||||||
| Six months ended June 30, 2025 | |||||||||||||||||||||||
| Other comprehensive income (loss), before tax | $ | 372,119 | $ | — | $ | (214) | $ | 371,905 | |||||||||||||||
| Income tax benefit | 5,654 | — | — | 5,654 | |||||||||||||||||||
| Other comprehensive income (loss), net of tax | $ | 377,773 | $ | — | $ | (214) | $ | 377,559 | |||||||||||||||
| Three Months Ended June 30, 2026 | |||||||||||||||||||||||||||||||||||
Decommissioning Costs(a) | Asset Write-offs(b) | Severance and Employee Benefits | Contract Cancellation Costs(c) | Other(d) | Total | ||||||||||||||||||||||||||||||
| Kemerton Train 1 Restructuring | $ | 7,476 | $ | (406) | $ | — | $ | — | $ | 55 | $ | 7,125 | |||||||||||||||||||||||
Second Half 2024 Restructuring(e) | 212 | — | — | — | — | 212 | |||||||||||||||||||||||||||||
| $ | 7,688 | $ | (406) | $ | — | $ | — | $ | 55 | $ | 7,337 | ||||||||||||||||||||||||
| Three Months Ended June 30, 2025 | |||||||||||||||||||||||||||||||||||
Decommissioning Costs(a) | Asset Write-offs(b) | Severance and Employee Benefits | Contract Cancellation Costs(c) | Other(d) | Total | ||||||||||||||||||||||||||||||
Second Half 2024 Restructuring(e) | $ | 1,430 | $ | 370 | $ | 564 | $ | 2,603 | $ | (683) | $ | 4,284 | |||||||||||||||||||||||
| Six Months Ended June 30, 2026 | |||||||||||||||||||||||||||||||||||
Decommissioning Costs(a) | Asset Write-offs(b) | Severance and Employee Benefits | Contract Cancellation Costs(c) | Other(d) | Total | ||||||||||||||||||||||||||||||
| Kemerton Train 1 Restructuring | $ | 11,819 | $ | 2,326 | $ | 15,397 | $ | 1,013 | $ | 1,246 | $ | 31,801 | |||||||||||||||||||||||
Second Half 2024 Restructuring(e) | 1,402 | — | — | — | — | 1,402 | |||||||||||||||||||||||||||||
| $ | 13,221 | $ | 2,326 | $ | 15,397 | $ | 1,013 | $ | 1,246 | $ | 33,203 | ||||||||||||||||||||||||
| Six Months Ended June 30, 2025 | |||||||||||||||||||||||||||||||||||
Decommissioning Costs(a) | Asset Write-offs(b) | Severance and Employee Benefits | Contract Cancellation Costs(c) | Other(d) | Total | ||||||||||||||||||||||||||||||
Second Half 2024 Restructuring(e) | $ | 7,185 | $ | (6,878) | $ | 2,184 | $ | 777 | $ | 183 | $ | 3,451 | |||||||||||||||||||||||
| Kemerton Train 1 Restructuring | Decommissioning Costs | Asset Write-offs | Severance and Employee Benefits | Contract Cancellation Costs | Other | Total | |||||||||||||||||||||||||||||
Beginning balance at December 31, 2025 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||
| 11,819 | 2,732 | 15,397 | 1,013 | 1,246 | 32,207 | ||||||||||||||||||||||||||||||
Change in estimate(a) | — | (406) | — | — | — | (406) | |||||||||||||||||||||||||||||
| Cash payments | (11,819) | — | (6,400) | (266) | (207) | (18,692) | |||||||||||||||||||||||||||||
| Asset write-off | — | (2,326) | — | — | — | (2,326) | |||||||||||||||||||||||||||||
| Foreign currency translation adjustments | — | — | (193) | — | — | (193) | |||||||||||||||||||||||||||||
Ending balance at June 30, 2026(b) | $ | — | $ | — | $ | 8,804 | $ | 747 | $ | 1,039 | $ | 10,590 | |||||||||||||||||||||||
| Second Half 2024 Restructuring | Decommissioning Costs | Asset Write-offs | Severance and Employee Benefits | Contract Cancellation Costs | Other | Total | |||||||||||||||||||||||||||||
Beginning balance at December 31, 2025 | $ | — | $ | — | $ | 1,115 | $ | 16,158 | $ | 4,843 | $ | 22,116 | |||||||||||||||||||||||
| 1,402 | — | — | — | — | 1,402 | ||||||||||||||||||||||||||||||
| Cash payments | (1,402) | — | (837) | (5,181) | — | (7,420) | |||||||||||||||||||||||||||||
| Foreign currency translation adjustments and other | — | — | (278) | (446) | — | (724) | |||||||||||||||||||||||||||||
Ending balance at June 30, 2026(b) | $ | — | $ | — | $ | — | $ | 10,531 | $ | 4,843 | $ | 15,374 | |||||||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Pension Benefits Cost (Credit): | |||||||||||||||||||||||
| Service cost | $ | 1,500 | $ | 1,447 | $ | 3,050 | $ | 2,844 | |||||||||||||||
| Interest cost | 8,365 | 8,454 | 16,777 | 16,793 | |||||||||||||||||||
| Expected return on assets | (8,140) | (8,588) | (15,834) | (17,123) | |||||||||||||||||||
| Amortization of prior service benefit | 20 | 20 | 40 | 39 | |||||||||||||||||||
| Total net pension benefits cost | $ | 1,745 | $ | 1,333 | $ | 4,033 | $ | 2,553 | |||||||||||||||
| Postretirement Benefits Cost: | |||||||||||||||||||||||
| Service cost | $ | 4 | $ | 5 | $ | 8 | $ | 10 | |||||||||||||||
| Interest cost | 629 | 470 | 1,258 | 941 | |||||||||||||||||||
| Total net postretirement benefits cost | $ | 633 | $ | 475 | $ | 1,266 | $ | 951 | |||||||||||||||
| Total net pension and postretirement benefits cost | $ | 2,378 | $ | 1,808 | $ | 5,299 | $ | 3,504 | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Basic earnings (loss) per share | |||||||||||||||||||||||
| Numerator: | |||||||||||||||||||||||
| Net income attributable to Albemarle Corporation | $ | 479,959 | $ | 22,897 | $ | 799,050 | $ | 64,245 | |||||||||||||||
| Mandatory convertible preferred stock dividends | (41,687) | (41,687) | (83,375) | (83,375) | |||||||||||||||||||
| Net income (loss) attributable to Albemarle Corporation common shareholders | $ | 438,272 | $ | (18,790) | $ | 715,675 | $ | (19,130) | |||||||||||||||
| Denominator: | |||||||||||||||||||||||
| Weighted-average common shares for basic earnings (loss) per share | 117,961 | 117,665 | 117,907 | 117,634 | |||||||||||||||||||
| Basic earnings (loss) per share | $ | 3.72 | $ | (0.16) | $ | 6.07 | $ | (0.16) | |||||||||||||||
| Diluted earnings (loss) per share | |||||||||||||||||||||||
| Numerator: | |||||||||||||||||||||||
| 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 | $ | 479,959 | $ | (18,790) | $ | 799,050 | $ | (19,130) | |||||||||||||||
| Denominator: | |||||||||||||||||||||||
| Weighted-average common shares for basic earnings (loss) per share | 117,961 | 117,665 | 117,907 | 117,634 | |||||||||||||||||||
| Incremental shares under mandatory convertible preferred stock | 17,521 | — | 17,521 | — | |||||||||||||||||||
| Incremental shares under stock compensation plans | 730 | — | 742 | — | |||||||||||||||||||
| Weighted-average common shares for diluted earnings (loss) per share | 136,212 | 117,665 | 136,170 | 117,634 | |||||||||||||||||||
| Diluted earnings (loss) per share | $ | 3.52 | $ | (0.16) | $ | 5.87 | $ | (0.16) | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Shares assuming the conversion of the mandatory convertible preferred stock | — | 21,022 | — | 21,022 | |||||||||||||||||||
| Shares under the stock compensation plans | 90 | 1,543 | 90 | 1,352 | |||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Operating lease cost | $ | 9,298 | $ | 8,605 | $ | 18,974 | $ | 17,337 | |||||||||||||||
| Finance lease cost: | |||||||||||||||||||||||
| Amortization of right of use assets | 1,613 | 2,026 | 3,222 | 4,024 | |||||||||||||||||||
| Interest on lease liabilities | 1,594 | 1,612 | 3,120 | 3,231 | |||||||||||||||||||
| Total finance lease cost | 3,207 | 3,638 | 6,342 | 7,255 | |||||||||||||||||||
| Short-term lease cost | 4,143 | 5,833 | 9,497 | 11,999 | |||||||||||||||||||
| Variable lease cost | 14,432 | 15,283 | 27,411 | 23,699 | |||||||||||||||||||
| Total lease cost | $ | 31,080 | $ | 33,359 | $ | 62,224 | $ | 60,290 | |||||||||||||||
| Six Months Ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Cash paid for amounts included in the measurement of lease liabilities: | |||||||||||
| Operating cash flows from operating leases | $ | 18,389 | $ | 17,042 | |||||||
| Operating cash flows from finance leases | 3,120 | 3,222 | |||||||||
| Financing cash flows from finance leases | 2,309 | 2,427 | |||||||||
| Right-of-use assets obtained in exchange for lease obligations: | |||||||||||
| Operating leases | 10,414 | 13,258 | |||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Operating leases: | |||||||||||
| Other assets | $ | 111,662 | $ | 116,404 | |||||||
| Accrued expenses | 26,431 | 24,561 | |||||||||
| Other noncurrent liabilities | 95,723 | 103,110 | |||||||||
| Total operating lease liabilities | 122,154 | 127,671 | |||||||||
| Finance leases: | |||||||||||
| Net property, plant and equipment | 101,241 | 103,915 | |||||||||
| Current portion of long-term debt | 4,177 | 4,077 | |||||||||
| Long-term debt | 100,672 | 102,719 | |||||||||
| Total finance lease liabilities | 104,849 | 106,796 | |||||||||
| Weighted average remaining lease term (in years): | |||||||||||
| Operating leases | 13.1 | 13.4 | |||||||||
| Finance leases | 20.0 | 20.5 | |||||||||
| Weighted average discount rate (%): | |||||||||||
| Operating leases | 5.02 | % | 5.01 | % | |||||||
| Finance leases | 5.47 | % | 5.47 | % | |||||||
| Operating Leases | Finance Leases | ||||||||||
| Remainder of 2026 | $ | 17,073 | $ | 4,934 | |||||||
| 2027 | 24,894 | 9,799 | |||||||||
| 2028 | 20,678 | 9,661 | |||||||||
| 2029 | 18,037 | 9,661 | |||||||||
| 2030 | 12,853 | 9,013 | |||||||||
| Thereafter | 101,062 | 122,949 | |||||||||
| Total lease payments | 194,597 | 166,017 | |||||||||
| Less imputed interest | 72,443 | 61,168 | |||||||||
| Total | $ | 122,154 | $ | 104,849 | |||||||
| June 30, 2026 | December 31, 2025 | ||||||||||||||||||||||
| Recorded Amount | Fair Value | Recorded Amount | Fair Value | ||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||
| Long-term debt | $ | 1,883,644 | $ | 1,820,107 | $ | 3,207,210 | $ | 3,112,590 | |||||||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||||||||||||||
| Assets | Liabilities | Assets | Liabilities | ||||||||||||||||||||
| Designated as hedging instruments | |||||||||||||||||||||||
| Other assets | $ | 3,909 | $ | — | $ | — | $ | — | |||||||||||||||
| Other noncurrent liabilities | — | 778 | — | — | |||||||||||||||||||
| Total designated as hedging instruments | $ | 3,909 | $ | 778 | $ | — | $ | — | |||||||||||||||
| Not designated as hedging instruments | |||||||||||||||||||||||
| Other current assets | $ | — | $ | — | $ | 2,163 | $ | — | |||||||||||||||
| Accrued expenses | — | 4,061 | — | 4,781 | |||||||||||||||||||
| Total not designated as hedging instruments | $ | — | $ | 4,061 | $ | 2,163 | $ | 4,781 | |||||||||||||||
| Total | $ | 3,909 | $ | 4,839 | $ | 2,163 | $ | 4,781 | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Designated as hedging instruments | |||||||||||||||||||||||
Gain (loss) recognized in Other comprehensive income | $ | 3,177 | $ | 165 | $ | 3,067 | $ | (66) | |||||||||||||||
| Not designated as hedging instruments | |||||||||||||||||||||||
(Loss) gain recognized in Other income (expenses), net(a) | $ | (4,432) | $ | 112,344 | $ | (20,216) | $ | 164,422 | |||||||||||||||
| Level 1 | Unadjusted quoted prices in active markets for identical assets or liabilities | ||||
| Level 2 | Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability | ||||
| Level 3 | Unobservable inputs for the asset or liability | ||||
| June 30, 2026 | Quoted Prices in Active Markets for Identical Items (Level 1) | Quoted Prices in Active Markets for Similar Items (Level 2) | Unobservable Inputs (Level 3) | ||||||||||||||||||||
| Assets: | |||||||||||||||||||||||
Investments under executive deferred compensation plan(a) | $ | 31,504 | $ | 31,504 | $ | — | $ | — | |||||||||||||||
Public equity securities(b) | $ | 30,090 | $ | 30,090 | $ | — | $ | — | |||||||||||||||
Private equity securities measured at net asset value(c) | $ | 4,531 | $ | — | $ | — | $ | — | |||||||||||||||
Derivative financial instruments(d) | $ | 3,909 | $ | — | $ | 3,909 | $ | — | |||||||||||||||
| Liabilities: | |||||||||||||||||||||||
Obligations under executive deferred compensation plan(a) | $ | 31,504 | $ | 31,504 | $ | — | $ | — | |||||||||||||||
Derivative financial instruments(d) | $ | 4,839 | $ | — | $ | 4,839 | $ | — | |||||||||||||||
| December 31, 2025 | Quoted Prices in Active Markets for Identical Items (Level 1) | Quoted Prices in Active Markets for Similar Items (Level 2) | Unobservable Inputs (Level 3) | ||||||||||||||||||||
| Assets: | |||||||||||||||||||||||
Investments under executive deferred compensation plan(a) | $ | 30,750 | $ | 30,750 | $ | — | $ | — | |||||||||||||||
Public equity securities(b) | $ | 29,047 | $ | 29,047 | $ | — | $ | — | |||||||||||||||
Private equity securities measured at net asset value(c) | $ | 4,515 | $ | — | $ | — | $ | — | |||||||||||||||
Derivative financial instruments(d) | $ | 2,163 | $ | — | $ | 2,163 | $ | — | |||||||||||||||
| Liabilities: | |||||||||||||||||||||||
Obligations under executive deferred compensation plan(a) | $ | 30,750 | $ | 30,750 | $ | — | $ | — | |||||||||||||||
Derivative financial instruments(d) | $ | 4,781 | $ | — | $ | 4,781 | $ | — | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Sales to unconsolidated affiliates | $ | — | $ | 676 | $ | — | $ | 2,212 | |||||||||||||||
Purchases from unconsolidated affiliates(a) | $ | 440,431 | $ | 144,233 | $ | 722,381 | $ | 303,439 | |||||||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| Receivables from unconsolidated affiliates | $ | — | $ | 2,643 | |||||||
Payables to unconsolidated affiliates(a) | $ | 445,421 | $ | 134,369 | |||||||
| Energy Storage | Specialties | Total Segments | |||||||||||||||
| Three Months Ended June 30, 2026 | |||||||||||||||||
Net sales(a) | $ | 1,276,684 | $ | 423,484 | $ | 1,700,168 | |||||||||||
Cost of goods sold(b) | (727,831) | (260,130) | (987,961) | ||||||||||||||
Selling, general and administrative expenses(b) | (47,839) | (24,468) | (72,307) | ||||||||||||||
Other segment items(c) | (639) | (1,914) | (2,553) | ||||||||||||||
Equity in net income of unconsolidated investments(d) | 223,082 | — | 223,082 | ||||||||||||||
| Net income attributable to noncontrolling interests | — | (19,252) | (19,252) | ||||||||||||||
| Adjusted EBITDA by segment | $ | 723,457 | $ | 117,720 | $ | 841,177 | |||||||||||
| Three Months Ended June 30, 2025 | |||||||||||||||||
Net sales(a) | $ | 717,656 | $ | 351,560 | $ | 1,069,216 | |||||||||||
Cost of goods sold(b) | (526,884) | (240,432) | (767,316) | ||||||||||||||
Selling, general and administrative expenses(b) | (48,712) | (23,830) | (72,542) | ||||||||||||||
Other segment items(c) | (1,659) | (2,025) | (3,684) | ||||||||||||||
Equity in net income of unconsolidated investments(d) | 79,324 | — | 79,324 | ||||||||||||||
| Net income attributable to noncontrolling interests | — | (12,296) | (12,296) | ||||||||||||||
| Adjusted EBITDA by segment | $ | 219,725 | $ | 72,977 | $ | 292,702 | |||||||||||
| Six Months Ended June 30, 2026 | |||||||||||||||||
Net sales(a) | $ | 2,167,849 | $ | 781,897 | $ | 2,949,746 | |||||||||||
Cost of goods sold(b) | (1,137,535) | (502,920) | (1,640,455) | ||||||||||||||
Selling, general and administrative expenses(b) | (97,120) | (51,529) | (148,649) | ||||||||||||||
Other segment items(c) | (1,540) | (4,461) | (6,001) | ||||||||||||||
Equity in net income of unconsolidated investments(d) | 343,159 | — | 343,159 | ||||||||||||||
| Net income attributable to noncontrolling interests | — | (29,138) | (29,138) | ||||||||||||||
| Adjusted EBITDA by segment | $ | 1,274,813 | $ | 193,849 | $ | 1,468,662 | |||||||||||
| Six Months Ended June 30, 2025 | |||||||||||||||||
Net sales(a) | $ | 1,242,221 | $ | 672,574 | $ | 1,914,795 | |||||||||||
Cost of goods sold(b) | (892,405) | (471,658) | (1,364,063) | ||||||||||||||
Selling, general and administrative expenses(b) | (93,247) | (44,209) | (137,456) | ||||||||||||||
Other segment items(c) | (4,209) | (4,818) | (9,027) | ||||||||||||||
Equity in net income of unconsolidated investments(d) | 153,720 | — | 153,720 | ||||||||||||||
| Net income attributable to noncontrolling interests | — | (20,246) | (20,246) | ||||||||||||||
| Adjusted EBITDA by segment | $ | 406,080 | $ | 131,643 | $ | 537,723 | |||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Total segment adjusted EBITDA | $ | 841,177 | $ | 292,702 | $ | 1,468,662 | $ | 537,723 | |||||||||||||||
| Corporate and all other adjusted EBITDA | 16,920 | 43,773 | 53,249 | 65,896 | |||||||||||||||||||
| Depreciation and amortization | (155,801) | (168,731) | (313,606) | (330,485) | |||||||||||||||||||
Interest and financing expenses(a) | (30,924) | (49,939) | (64,045) | (98,916) | |||||||||||||||||||
| Income tax expense | (94,002) | (34,094) | (115,513) | (30,116) | |||||||||||||||||||
Proportionate share of Windfield income tax expense(b) | (70,766) | (33,150) | (112,300) | (58,476) | |||||||||||||||||||
Loss on sale of business/equity investment, net(c) | — | — | (52,718) | — | |||||||||||||||||||
Acquisition and integration related costs(d) | (765) | (1,768) | (1,872) | (3,208) | |||||||||||||||||||
Restructuring charges and asset write-offs(e) | (7,337) | (4,284) | (33,203) | (3,451) | |||||||||||||||||||
| Non-operating pension and OPEB items | (854) | (336) | (2,201) | (611) | |||||||||||||||||||
Gain (loss) in fair value of public equity securities(f) | 6,530 | 186 | 1,043 | (4,836) | |||||||||||||||||||
Other(g) | (24,219) | (21,462) | (28,446) | (9,275) | |||||||||||||||||||
| Net income attributable to Albemarle Corporation | $ | 479,959 | $ | 22,897 | $ | 799,050 | $ | 64,245 | |||||||||||||||
| June 30, | December 31, | ||||||||||
| 2026 | 2025 | ||||||||||
| Assets: | |||||||||||
| Energy Storage | $ | 11,415,555 | $ | 11,086,694 | |||||||
| Specialties | 2,081,519 | 2,067,191 | |||||||||
| Total segment assets | 13,497,074 | 13,153,885 | |||||||||
| Corporate and all other | 2,408,021 | 3,220,326 | |||||||||
| Total assets | $ | 15,905,095 | $ | 16,374,211 | |||||||
| Investments in equity method investees: | |||||||||||
| Energy Storage | $ | 987,388 | $ | 737,792 | |||||||
| Total segment investments in equity method investees | 987,388 | 737,792 | |||||||||
| Corporate and all other | 38,843 | 82,056 | |||||||||
| Total investments in equity method investees | $ | 1,026,231 | $ | 819,848 | |||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net sales: | |||||||||||||||||||||||
| Energy Storage | $ | 1,276,684 | $ | 717,656 | $ | 2,167,849 | $ | 1,242,221 | |||||||||||||||
| Specialties | 423,484 | 351,560 | 781,897 | 672,574 | |||||||||||||||||||
| Total segment net sales | 1,700,168 | 1,069,216 | 2,949,746 | 1,914,795 | |||||||||||||||||||
| Corporate and all other | 43,145 | 260,776 | 222,298 | 492,078 | |||||||||||||||||||
| Total net sales | $ | 1,743,313 | $ | 1,329,992 | $ | 3,172,044 | $ | 2,406,873 | |||||||||||||||
| Depreciation and amortization: | |||||||||||||||||||||||
| Energy Storage | $ | 122,084 | $ | 127,175 | $ | 246,434 | $ | 247,523 | |||||||||||||||
| Specialties | 28,974 | 25,668 | 57,665 | 51,401 | |||||||||||||||||||
| Total segment depreciation and amortization | 151,058 | 152,843 | 304,099 | 298,924 | |||||||||||||||||||
| Corporate and all other | 4,743 | 15,888 | 9,507 | 31,561 | |||||||||||||||||||
| Total depreciation and amortization | $ | 155,801 | $ | 168,731 | $ | 313,606 | $ | 330,485 | |||||||||||||||
| Equity in net income of unconsolidated investments (net of tax): | |||||||||||||||||||||||
| Energy Storage | $ | 156,250 | $ | 53,851 | $ | 239,217 | $ | 104,696 | |||||||||||||||
| Total segment equity in net income of unconsolidated investments (net of tax) | 156,250 | 53,851 | 239,217 | 104,696 | |||||||||||||||||||
Corporate and all other(a) | (4,686) | 24,407 | 8,640 | 37,848 | |||||||||||||||||||
| Total equity in net income of unconsolidated investments (net of tax) | $ | 151,564 | $ | 78,258 | $ | 247,857 | $ | 142,544 | |||||||||||||||
| Capital expenditures: | |||||||||||||||||||||||
| Energy Storage | $ | 45,954 | $ | 58,513 | $ | 100,075 | $ | 152,956 | |||||||||||||||
| Specialties | 22,066 | 23,734 | 42,484 | 85,959 | |||||||||||||||||||
| Total segment capital expenditures | 68,020 | 82,247 | 142,559 | 238,915 | |||||||||||||||||||
| Corporate and all other | 3,711 | 37,381 | 27,848 | 63,337 | |||||||||||||||||||
| Total capital expenditures | $ | 71,731 | $ | 119,628 | $ | 170,407 | $ | 302,252 | |||||||||||||||
| Six Months Ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Supplemental non-cash disclosure related to investing and financing activities: | |||||||||||
| Capital expenditures included in Accounts payable | $ | 68,514 | $ | 100,149 | |||||||
Non-cash investments in equity investments(a) | $ | 53,000 | $ | — | |||||||
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations. | ||||
| In thousands | Q2 2026 | Q2 2025 | $ Change | % Change | |||||||||||||||||||
| Net sales | $ | 1,743,313 | $ | 1,329,992 | $ | 413,321 | 31 | % | |||||||||||||||
•$561.8 million increase primarily attributable to higher pricing in Energy Storage and Specialties •$28.4 million increase primarily attributable to higher sales volume in Specialties •$215.3 million decrease attributable to the absence of Refining Solutions net sales as a result of its divestiture on March 2, 2026 •$38.5 million of favorable currency translation resulting from the weaker U.S. Dollar against various currencies | |||||||||||||||||||||||
| In thousands | Q2 2026 | Q2 2025 | $ Change | % Change | |||||||||||||||||||
| Gross profit | $ | 590,301 | $ | 196,876 | $ | 393,425 | 200 | % | |||||||||||||||
| Gross profit margin | 33.9 | % | 14.8 | % | |||||||||||||||||||
•Lower average input costs, driven by the consumption of lower-priced raw material inventory in Energy Storage. The lower cost of goods sold of spodumene purchased from Windfield is offset in the equity in net income of unconsolidated investments in the period the converted inventory is sold to third-party customers •Favorable pricing in Energy Storage and Specialties and higher sales volume primarily driven by Specialties •Favorable currency exchange impacts resulting from the weaker U.S. Dollar against various currencies •Partially offset by the absence of Refining Solutions gross profit as a result of its divestiture on March 2, 2026 | |||||||||||||||||||||||
| In thousands | Q2 2026 | Q2 2025 | $ Change | % Change | |||||||||||||||||||
| Restructuring charges and asset write-offs | $ | 7,337 | $ | 4,448 | $ | 2,889 | 65 | % | |||||||||||||||
•In 2026, we recorded decommissioning expenses related to the announced placement of Kemerton Train 1 into care and maintenance •In 2025, we primarily recorded adjustments to contract cancellation costs with key suppliers and costs to put Kemerton Train 2 into care and maintenance as part of the restructuring plan •See Note 10, “Restructuring Charges and Asset Write-offs,” to the Notes to the Condensed Consolidated Financial Statements in this Quarterly Report on Form 10-Q for further details | |||||||||||||||||||||||
| In thousands | Q2 2026 | Q2 2025 | $ Change | % Change | |||||||||||||||||||
| Research and development expenses | $ | 3,667 | $ | 12,444 | $ | (8,777) | (71) | % | |||||||||||||||
| Percentage of Net sales | 0.2 | % | 0.9 | % | |||||||||||||||||||
•Reduction primarily driven by lower research and development spending in Specialties and Energy Storage as part of cost reduction efforts •Absence of research and development spending associated with Refining Solutions as a result of its divestiture on March 2, 2026 | |||||||||||||||||||||||
| In thousands | Q2 2026 | Q2 2025 | $ Change | % Change | |||||||||||||||||||
| Interest and financing expenses | $ | (30,924) | $ | (49,939) | $ | 19,015 | (38) | % | |||||||||||||||
•Lower debt balances in 2026 following the March 2026 early redemption of notes | |||||||||||||||||||||||
| In thousands | Q2 2026 | Q2 2025 | $ Change | % Change | |||||||||||||||||||
| Other income (expenses), net | $ | 19,629 | $ | (6,559) | $ | 26,188 | NM | ||||||||||||||||
•$38.0 million loss resulting from the redemption of preferred equity in a Grace subsidiary in 2025 •$6.3 million increase in the fair market value adjustment of equity securities in public companies •$10.1 million of income in 2025 from PIK dividends of preferred equity prior to redemption •$5.4 million decrease attributable to interest income from lower interest rates in 2026 | |||||||||||||||||||||||
| In thousands | Q2 2026 | Q2 2025 | $ Change | % Change | |||||||||||||||||||
| Income tax expense | $ | 94,002 | $ | 34,094 | $ | 59,908 | 176 | % | |||||||||||||||
| Effective income tax rate | 21.3 | % | (380.0) | % | |||||||||||||||||||
•2026 income tax expense was primarily the result of the geographic mix of earnings, including the impact from the valuation allowance for losses in the U.S., our consolidated Australian entities and certain entities in China •2025 income tax expense included the impact of the valuation allowance for losses in our consolidated Australian entities and certain entities in China | |||||||||||||||||||||||
| In thousands | Q2 2026 | Q2 2025 | $ Change | % Change | |||||||||||||||||||
| Equity in net income of unconsolidated investments | $ | 151,564 | $ | 78,258 | $ | 73,306 | 94 | % | |||||||||||||||
•Increased earnings primarily due to higher pricing realized by the Windfield joint venture. Partially offset by lower deferred profits of the converted inventory sold by Albemarle to third-party customers •$12.1 million decrease attributable to unfavorable foreign exchange impacts from the Windfield joint venture | |||||||||||||||||||||||
| In thousands | Q2 2026 | Q2 2025 | $ Change | % Change | |||||||||||||||||||
| Net income attributable to noncontrolling interests | $ | (19,252) | $ | (12,296) | $ | (6,956) | 57 | % | |||||||||||||||
•Increase in consolidated income related to our Jordan Bromine Company Limited (“JBC”) joint venture primarily due to higher pricing | |||||||||||||||||||||||
| In thousands | Q2 2026 | Q2 2025 | $ Change | % Change | |||||||||||||||||||
| Net income attributable to Albemarle Corporation | $ | 479,959 | $ | 22,897 | $ | 457,062 | NM | ||||||||||||||||
| Percentage of Net sales | 27.5 | % | 1.7 | % | |||||||||||||||||||
| Net income (loss) attributable to Albemarle Corporation common shareholders | $ | 438,272 | $ | (18,790) | $ | 457,062 | NM | ||||||||||||||||
| Basic earnings (loss) per share attributable to common shareholders | $ | 3.72 | $ | (0.16) | $ | 3.88 | NM | ||||||||||||||||
| Diluted earnings (loss) per share attributable to common shareholders | $ | 3.52 | $ | (0.16) | $ | 3.68 | NM | ||||||||||||||||
•Increase in 2026 results due to reasons noted above •Net income (loss) attributable to Albemarle Corporation common shareholders includes reductions of $41.7 million for mandatory convertible preferred stock dividends in both 2026 and 2025 | |||||||||||||||||||||||
| Three Months Ended June 30, | Percentage Change | ||||||||||||||||||||||||||||
| 2026 | % | 2025 | % | 2026 vs 2025 | |||||||||||||||||||||||||
| (In thousands, except percentages) | |||||||||||||||||||||||||||||
| Net sales: | |||||||||||||||||||||||||||||
| Energy Storage | $ | 1,276,684 | 73.2 | % | $ | 717,656 | 54.0 | % | 78 | % | |||||||||||||||||||
| Specialties | 423,484 | 24.3 | % | 351,560 | 26.4 | % | 20 | % | |||||||||||||||||||||
| Total segment net sales | 1,700,168 | 97.5 | % | 1,069,216 | 80.4 | % | 59 | % | |||||||||||||||||||||
| Corporate and all other | 43,145 | 2.5 | % | 260,776 | 19.6 | % | (83) | % | |||||||||||||||||||||
| Total net sales | $ | 1,743,313 | 100.0 | % | $ | 1,329,992 | 100.0 | % | 31 | % | |||||||||||||||||||
| Adjusted EBITDA: | |||||||||||||||||||||||||||||
| Energy Storage | $ | 723,457 | 84.3 | % | $ | 219,725 | 65.3 | % | 229 | % | |||||||||||||||||||
| Specialties | 117,720 | 13.7 | % | 72,977 | 21.7 | % | 61 | % | |||||||||||||||||||||
| Total segment adjusted EBITDA | 841,177 | 98.0 | % | 292,702 | 87.0 | % | 187 | % | |||||||||||||||||||||
| Corporate and all other | 16,920 | 2.0 | % | 43,773 | 13.0 | % | (61) | % | |||||||||||||||||||||
| Total adjusted EBITDA | $ | 858,097 | 100.0 | % | $ | 336,475 | 100.0 | % | 155 | % | |||||||||||||||||||
| Three Months Ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Total segment adjusted EBITDA | $ | 841,177 | $ | 292,702 | |||||||
| Corporate and all other adjusted EBITDA | 16,920 | 43,773 | |||||||||
| Depreciation and amortization | (155,801) | (168,731) | |||||||||
| Interest and financing expenses | (30,924) | (49,939) | |||||||||
| Income tax expense | (94,002) | (34,094) | |||||||||
Proportionate share of Windfield income tax expense(a) | (70,766) | (33,150) | |||||||||
Acquisition and integration related costs(b) | (765) | (1,768) | |||||||||
Restructuring charges and asset write-offs(c) | (7,337) | (4,284) | |||||||||
| Non-operating pension and OPEB items | (854) | (336) | |||||||||
Gain in fair value of public equity securities(d) | 6,530 | 186 | |||||||||
Other(e) | (24,219) | (21,462) | |||||||||
| Net income attributable to Albemarle Corporation | $ | 479,959 | $ | 22,897 | |||||||
| In thousands | Q2 2026 | Q2 2025 | $ Change | % Change | |||||||||||||||||||
| Net sales | $ | 1,276,684 | $ | 717,656 | $ | 559,028 | 78 | % | |||||||||||||||
•$522.5 million increase attributable to favorable pricing impacts, primarily in battery- and technical-grade carbonate and hydroxide sold under index-referenced and variable-priced contracts •$2.0 million increase attributable to higher sales volume driven by customer demand, partially offset by unfavorable product mix and reduced tolling volumes •$34.6 million increase attributable to favorable currency translation resulting from the weaker U.S. Dollar against various currencies | |||||||||||||||||||||||
| Adjusted EBITDA | $ | 723,457 | $ | 219,725 | $ | 503,732 | 229 | % | |||||||||||||||
•Favorable pricing impacts in lithium carbonate and hydroxide •Increased equity earnings from higher spodumene pricing realized by the Windfield joint venture •Partially offset by increased commission expenses in Chile resulting from the higher pricing •$25.1 million increase attributable to favorable currency translation resulting from the weaker U.S. Dollar against various currencies | |||||||||||||||||||||||
| In thousands | Q2 2026 | Q2 2025 | $ Change | % Change | |||||||||||||||||||
| Net sales | $ | 423,484 | $ | 351,560 | $ | 71,924 | 20 | % | |||||||||||||||
•$38.5 million increase attributable to favorable pricing impacts in bromine and derivatives and flame retardants, partially offset by unfavorable pricing in lithium specialties •$29.7 million increase attributable to higher sales volumes primarily in flame retardants •$3.8 million increase attributable to favorable currency translation resulting from the weaker U.S. Dollar against various currencies | |||||||||||||||||||||||
| Adjusted EBITDA | $ | 117,720 | $ | 72,977 | $ | 44,743 | 61 | % | |||||||||||||||
•Higher sales volumes and favorable pricing •Partially offset by higher raw material input costs •$2.0 million increase attributable to favorable currency translation resulting from the weaker U.S. Dollar against various currencies | |||||||||||||||||||||||
| In thousands | Q2 2026 | Q2 2025 | $ Change | % Change | |||||||||||||||||||
| Net sales | $ | 43,145 | $ | 260,776 | $ | (217,631) | (83) | % | |||||||||||||||
•$215.3 million decrease attributable to the absence of Refining Solutions net sales as a result of its divestiture on March 2, 2026 •$3.2 million decrease attributable to lower sales volumes in PCS | |||||||||||||||||||||||
| Adjusted EBITDA | $ | 16,920 | $ | 43,773 | $ | (26,853) | (61) | % | |||||||||||||||
•$32.9 million decrease attributable to the absence of Refining Solutions net sales as a result of its divestiture on March 2, 2026 •Lower sales volumes in PCS •$12.3 million decrease attributable to unfavorable currency exchange impacts, including a $12.1 million decrease in foreign exchange impacts from our Windfield joint venture | |||||||||||||||||||||||
| In thousands | YTD 2026 | YTD 2025 | $ Change | % Change | |||||||||||||||||||
| Net sales | $ | 3,172,044 | $ | 2,406,873 | $ | 765,171 | 32 | % | |||||||||||||||
•$833.9 million increase primarily attributable to higher pricing in Energy Storage and Specialties •$105.9 million increase attributable to higher sales volume in Energy Storage and Specialties •$254.1 million decrease attributable to the absence of Refining Solutions net sales as a results of its divestiture on March 2, 2026 •$79.5 million of favorable currency translation resulting from the weaker U.S. Dollar against various currencies | |||||||||||||||||||||||
| In thousands | YTD 2026 | YTD 2025 | $ Change | % Change | |||||||||||||||||||
| Gross profit | $ | 1,091,267 | $ | 353,175 | $ | 738,092 | 209 | % | |||||||||||||||
| Gross profit margin | 34.4 | % | 14.7 | % | |||||||||||||||||||
•Lower average input costs, driven by the consumption of lower-priced raw material inventory in Energy Storage. The lower cost of goods sold of spodumene purchased from Windfield is offset in the equity in net income of unconsolidated investments in the period the converted inventory is sold to third-party customers •Favorable pricing and higher sales volume in both Energy Storage and Specialties •Favorable currency exchange impacts resulting from the weaker U.S. Dollar against various currencies •Partially offset by the absence of Refining Solutions gross profit as a result of its divestiture on March 2, 2026 | |||||||||||||||||||||||
| In thousands | YTD 2026 | YTD 2025 | $ Change | % Change | |||||||||||||||||||
| Selling, general and administrative expenses | $ | 263,759 | $ | 255,959 | $ | 7,800 | 3 | % | |||||||||||||||
| Percentage of Net sales | 8.3 | % | 10.6 | % | |||||||||||||||||||
•Increase primarily driven by higher expenses for outside services used to support various projects •2026 result included a $3.9 million charge for a non-income tax audit of a facility no longer controlled by the Company •Partially offset by the absence of SG&A associated with Refining Solutions as a result of its divestiture on March 2, 2026, as well as cost savings initiatives •$11.4 million of gains from the sale of assets not part of our production operations in 2025 | |||||||||||||||||||||||
| In thousands | YTD 2026 | YTD 2025 | $ Change | % Change | |||||||||||||||||||
| Restructuring charges and asset write-offs | $ | 33,203 | $ | 3,385 | $ | 29,818 | NM | ||||||||||||||||
•In 2026, we recorded severance and employee benefit charges, decommissioning expenses and other restructuring and asset-write off charges related to the announced placement of Kemerton Train 1 into care and maintenance •In 2025, we primarily recorded adjustments to contract cancellation costs with key suppliers and costs to put the Chengdu, China conversion facility and Kemerton Train 2 into care and maintenance as part of the restructuring plan. These costs were partially offset by proceeds for certain Kemerton equipment, and updated estimates concerning the progress of construction activities and related contractual obligations, resulting in a favorable adjustment of asset write-offs •See Note 10, “Restructuring Charges and Asset Write-offs,” to the Notes to the Condensed Consolidated Financial Statements in this Quarterly Report on Form 10-Q for further details | |||||||||||||||||||||||
| In thousands | YTD 2026 | YTD 2025 | $ Change | % Change | |||||||||||||||||||
| Research and development expenses | $ | 12,837 | $ | 26,543 | $ | (13,706) | (52) | % | |||||||||||||||
| Percentage of Net sales | 0.4 | % | 1.1 | % | |||||||||||||||||||
•Reduction primarily driven by lower research and development spending in Specialties and Energy Storage as part of cost reduction efforts •Absence of research and development spending associated with Refining Solutions as a result of its divestiture on March 2, 2026 | |||||||||||||||||||||||
| In thousands | YTD 2026 | YTD 2025 | $ Change | % Change | |||||||||||||||||||
| Loss on sale of business | $ | 95,018 | $ | — | $ | 95,018 | NM | ||||||||||||||||
•$95.0 million loss recorded related to the divestiture of the controlling ownership interest of the Refining Solutions business, representing the final consideration received less the carrying value on the date of sale | |||||||||||||||||||||||
| In thousands | YTD 2026 | YTD 2025 | $ Change | % Change | |||||||||||||||||||
| Interest and financing expenses | $ | (64,045) | $ | (98,916) | $ | 34,871 | (35) | % | |||||||||||||||
•2026 included a gain on early extinguishment of debt of $12.5 million, representing the repurchase of notes in March 2026 at a discount, partially offset by tender premiums and redemption fees •Lower debt balances in 2026 following the March 2026 early redemption of notes | |||||||||||||||||||||||
| In thousands | YTD 2026 | YTD 2025 | $ Change | % Change | |||||||||||||||||||
| Other income, net | $ | 73,439 | $ | 3,691 | $ | 69,748 | NM | ||||||||||||||||
•$42.3 million gain recorded related to the divestiture of our 50% ownership interest in the Eurecat S.A. joint venture, representing the final consideration received less the carrying value of the investment on the date of sale •$38.0 million loss resulting from the redemption of preferred equity in a Grace subsidiary in 2025 •$11.0 million increase attributable to foreign exchange impacts from lower losses recorded in 2026 •$10.1 million decrease attributable to interest income from lower interest rates in 2026 | |||||||||||||||||||||||
| In thousands | YTD 2026 | YTD 2025 | $ Change | % Change | |||||||||||||||||||
| Income tax expense | $ | 115,513 | $ | 30,116 | $ | 85,397 | 284 | % | |||||||||||||||
Effective income tax rate | 16.6 | % | (107.8) | % | |||||||||||||||||||
•2026 income tax expense was primarily the result of the geographic mix of earnings, including the impact from the valuation allowance for losses in the U.S., our consolidated Australian entities and certain entities in China •2025 income tax expense was primarily the result of the geographic mix of earnings, including the impact from the valuation allowance for losses in our consolidated Australian entities and certain entities in China | |||||||||||||||||||||||
| In thousands | YTD 2026 | YTD 2025 | $ Change | % Change | |||||||||||||||||||
| Equity in net income of unconsolidated investments | $ | 247,857 | $ | 142,544 | $ | 105,313 | 74 | % | |||||||||||||||
•Increased earnings primarily due to higher pricing realized by the Windfield joint venture. Partially offset by lower deferred profits of the converted inventory sold by Albemarle to third-party customers •$3.2 million decrease attributable to unfavorable foreign exchange impacts from the Windfield joint venture | |||||||||||||||||||||||
| In thousands | YTD 2026 | YTD 2025 | $ Change | % Change | |||||||||||||||||||
| Net income attributable to noncontrolling interests | $ | (29,138) | $ | (20,246) | $ | (8,892) | 44 | % | |||||||||||||||
•Increase in consolidated income related to our JBC joint venture primarily due to higher pricing | |||||||||||||||||||||||
| In thousands | YTD 2026 | YTD 2025 | $ Change | % Change | |||||||||||||||||||
| Net income attributable to Albemarle Corporation | $ | 799,050 | $ | 64,245 | $ | 734,805 | NM | ||||||||||||||||
| Percentage of Net sales | 25.2 | % | 2.7 | % | |||||||||||||||||||
| Net income (loss) attributable to Albemarle Corporation common shareholders | $ | 715,675 | $ | (19,130) | $ | 734,805 | NM | ||||||||||||||||
| Basic earnings (loss) per share | $ | 6.07 | $ | (0.16) | $ | 6.23 | NM | ||||||||||||||||
| Diluted earnings (loss) per share | $ | 5.87 | $ | (0.16) | $ | 6.03 | NM | ||||||||||||||||
•Increase in 2026 results due to reasons noted above •Net income (loss) attributable to Albemarle Corporation common shareholders includes reductions of $83.4 million for mandatory convertible preferred stock dividends in both 2026 and 2025 | |||||||||||||||||||||||
| Six Months Ended June 30, | Percentage Change | ||||||||||||||||||||||||||||
| 2026 | % | 2025 | % | 2026 vs 2025 | |||||||||||||||||||||||||
| (In thousands, except percentages) | |||||||||||||||||||||||||||||
| Net sales: | |||||||||||||||||||||||||||||
| Energy Storage | $ | 2,167,849 | 68.3 | % | $ | 1,242,221 | 51.6 | % | 75 | % | |||||||||||||||||||
| Specialties | 781,897 | 24.7 | % | 672,574 | 28.0 | % | 16 | % | |||||||||||||||||||||
| Total segment net sales | 2,949,746 | 93.0 | % | 1,914,795 | 79.6 | % | 54 | % | |||||||||||||||||||||
| Corporate and all other | 222,298 | 7.0 | % | 492,078 | 20.4 | % | (55) | % | |||||||||||||||||||||
| Total net sales | $ | 3,172,044 | 100.0 | % | $ | 2,406,873 | 100.0 | % | 32 | % | |||||||||||||||||||
| Adjusted EBITDA: | |||||||||||||||||||||||||||||
| Energy Storage | $ | 1,274,813 | 83.8 | % | $ | 406,080 | 67.3 | % | 214 | % | |||||||||||||||||||
| Specialties | 193,849 | 12.7 | % | 131,643 | 21.8 | % | 47 | % | |||||||||||||||||||||
| Total segment adjusted EBITDA | 1,468,662 | 96.5 | % | 537,723 | 89.1 | % | 173 | % | |||||||||||||||||||||
| Corporate and all other | 53,249 | 3.5 | % | 65,896 | 10.9 | % | (19) | % | |||||||||||||||||||||
| Total adjusted EBITDA | $ | 1,521,911 | 100.0 | % | $ | 603,619 | 100.0 | % | 152 | % | |||||||||||||||||||
| Six Months Ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Total segment adjusted EBITDA | $ | 1,468,662 | $ | 537,723 | |||||||
| Corporate and all other adjusted EBITDA | 53,249 | 65,896 | |||||||||
| Depreciation and amortization | (313,606) | (330,485) | |||||||||
Interest and financing expenses(a) | (64,045) | (98,916) | |||||||||
| Income tax expense | (115,513) | (30,116) | |||||||||
Proportionate share of Windfield income tax expense(b) | (112,300) | (58,476) | |||||||||
Loss on sale of business/equity investment, net(c) | (52,718) | — | |||||||||
Acquisition and integration related costs(d) | (1,872) | (3,208) | |||||||||
Restructuring charges and asset write-offs(e) | (33,203) | (3,451) | |||||||||
| Non-operating pension and OPEB items | (2,201) | (611) | |||||||||
Gain (loss) in fair value on public equity securities(f) | 1,043 | (4,836) | |||||||||
Other(g) | (28,446) | (9,275) | |||||||||
| Net income attributable to Albemarle Corporation | $ | 799,050 | $ | 64,245 | |||||||
| In thousands | YTD 2026 | YTD 2025 | $ Change | % Change | |||||||||||||||||||
| Net sales | $ | 2,167,849 | $ | 1,242,221 | $ | 925,628 | 75 | % | |||||||||||||||
•$788.4 million increase attributable to favorable pricing impacts, primarily in battery- and technical-grade carbonate and hydroxide sold under index-referenced and variable-priced contracts •$73.0 million increase attributable to higher sales volume driven by customer demand, partially offset by reduced tolling volumes •$64.3 million increase attributable to favorable currency translation resulting from the weaker U.S. Dollar against various currencies | |||||||||||||||||||||||
| Adjusted EBITDA | $ | 1,274,813 | $ | 406,080 | $ | 868,733 | 214 | % | |||||||||||||||
•Favorable pricing impacts in lithium carbonate and hydroxide •Increased equity earnings from higher spodumene pricing realized by the Windfield joint venture •Partially offset by increased commission expenses in Chile resulting from the higher pricing •$43.6 million increase attributable to favorable currency translation resulting from the weaker U.S. Dollar against various currencies | |||||||||||||||||||||||
| In thousands | YTD 2026 | YTD 2025 | $ Change | % Change | |||||||||||||||||||
| Net sales | $ | 781,897 | $ | 672,574 | $ | 109,323 | 16 | % | |||||||||||||||
•$51.1 million increase attributable to higher sales volumes primarily in flame retardants •$43.6 million increase attributable to favorable pricing impacts in bromine and derivatives and flame retardants, partially offset by unfavorable pricing in lithium specialties •$14.7 million increase attributable to favorable currency translation resulting from the weaker U.S. Dollar against various currencies | |||||||||||||||||||||||
| Adjusted EBITDA | $ | 193,849 | $ | 131,643 | $ | 62,206 | 47 | % | |||||||||||||||
•Higher sales volumes and favorable pricing •Partially offset by higher raw material input costs •$7.0 million increase attributable to favorable currency translation resulting from the weaker U.S. Dollar against various currencies | |||||||||||||||||||||||
| In thousands | YTD 2026 | YTD 2025 | $ Change | % Change | |||||||||||||||||||
| Net sales | $ | 222,298 | $ | 492,078 | $ | (269,780) | (55) | % | |||||||||||||||
•$254.1 million decrease attributable to the absence of Refining Solutions net sales as a result of its divestiture on March 2, 2026 •$18.1 million decrease attributable to lower sales volumes in PCS •$1.9 million increase attributable to favorable pricing impacts in PCS | |||||||||||||||||||||||
| Adjusted EBITDA | $ | 53,249 | $ | 65,896 | $ | (12,647) | (19) | % | |||||||||||||||
•$29.1 million decrease attributable to the absence of Refining Solutions net sales as a result of its divestiture on March 2, 2026 •Lower sales volumes in PCS •$7.7 million increase attributable to favorable currency exchange impacts, net of a $3.2 million decrease in foreign exchange impacts from our Windfield joint venture | |||||||||||||||||||||||
| Issue Month/Year | Principal (in millions) | Interest Rate | Interest Payment Dates | Maturity Date | |||||||||||||||||||||||||
| November 2019 | €500.0 | 1.625% | November 25 | November 25, 2028 | |||||||||||||||||||||||||
November 2019(a) | $109.2 | 3.45% | May 15 and November 15 | November 15, 2029 | |||||||||||||||||||||||||
May 2022(a) | $415.7 | 5.05% | June 1 and December 1 | June 1, 2032 | |||||||||||||||||||||||||
November 2014(a) | $201.0 | 5.45% | June 1 and December 1 | December 1, 2044 | |||||||||||||||||||||||||
May 2022(a) | $195.7 | 5.65% | June 1 and December 1 | June 1, 2052 | |||||||||||||||||||||||||
| $ in thousands | Six Months Ended June 30, 2026 | Year Ended December 31, 2025 | |||||||||
Net sales(a) | $ | 678,294 | $ | 741,274 | |||||||
| Gross profit | 389,449 | 238,415 | |||||||||
Loss before income taxes and equity in net income of unconsolidated investments(b) | (59,294) | (315,779) | |||||||||
| Net loss attributable to the Parent Guarantor and the Issuer | (78,271) | (324,323) | |||||||||
| $ in thousands | June 30, 2026 | December 31, 2025 | |||||||||
Current assets(a) | $ | 2,779,973 | $ | 2,477,653 | |||||||
| Net property, plant and equipment | 1,998,285 | 1,917,878 | |||||||||
Other noncurrent assets(b) | 1,322,083 | 1,555,670 | |||||||||
Current liabilities(c) | $ | 4,826,664 | $ | 4,322,260 | |||||||
| Long-term debt | 962,195 | 2,254,535 | |||||||||
Other noncurrent liabilities(d) | 5,255,624 | 5,227,721 | |||||||||
| $ in thousands | Six Months Ended June 30, 2026 | Year Ended December 31, 2025 | |||||||||
Net sales(a) | $ | 351,079 | $ | 521,976 | |||||||
| Gross profit | 225,991 | 296,868 | |||||||||
Loss before income taxes and equity in net income of unconsolidated investments(b) | (188,505) | (237,553) | |||||||||
| Loss attributable to the Subsidiary Guarantor and the Parent Issuer | (208,050) | (254,488) | |||||||||
| $ in thousands | June 30, 2026 | December 31, 2025 | |||||||||
Current assets(a) | $ | 2,688,659 | $ | 2,520,047 | |||||||
| Net property, plant and equipment | 899,267 | 790,786 | |||||||||
Other non-current assets(b) | 429,367 | 667,148 | |||||||||
Current liabilities(c) | $ | 4,755,612 | $ | 4,284,798 | |||||||
| Long-term debt | 1,372,180 | 2,621,531 | |||||||||
Other noncurrent liabilities(d) | 5,272,695 | 5,247,889 | |||||||||
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk. | ||||
| Item 4. | Controls and Procedures. | ||||
| Item 1. | Legal Proceedings. | ||||
| Item 1A. | Risk Factors. | ||||
| Item 5. | Other Information. | ||||
| Item 6. | Exhibits. | ||||
| 10.1 | ||||||||
| *31.1 | ||||||||
| *31.2 | ||||||||
| *32.1 | ||||||||
| *32.2 | ||||||||
| *101 | Interactive Data File (Quarterly Report on Form 10-Q, for the quarterly period ended June 30, 2026, furnished in XBRL (eXtensible Business Reporting Language)). | |||||||
| *104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101). | |||||||
| * | Included with this filing. | ||||
| ALBEMARLE CORPORATION | |||||||||||||||||
| (Registrant) | |||||||||||||||||
| Date: | August 5, 2026 | By: | /s/ NEAL R. SHEOREY | ||||||||||||||
| Neal R. Sheorey | |||||||||||||||||
| Executive Vice President and Chief Financial Officer | |||||||||||||||||
| (principal financial officer) | |||||||||||||||||
| Date: | August 5, 2026 | ||||
/s/ J. KENT MASTERS | ||
| J. Kent Masters | ||
| Chairman, President and Chief Executive Officer | ||
| Date: | August 5, 2026 | ||||
/s/ NEAL R. SHEOREY | ||
| Neal R. Sheorey | ||
| Executive Vice President and Chief Financial Officer | ||
/s/ J. KENT MASTERS | ||
| J. Kent Masters | ||
| Chairman, President and Chief Executive Officer | ||
| August 5, 2026 | ||
/s/ NEAL R. SHEOREY | ||
Neal R. Sheorey | ||
| Executive Vice President and Chief Financial Officer | ||
| August 5, 2026 | ||