ALB US S&P 500Russell 1000 Earnings call · transcribed from the recording
Albemarle Corporation (ALB) · Q3 2026 results and valuation
Share price: $95.97 · 2026-11-11
Results Q3 2026 vs Q2 2026 · previous quarter · published 4 Nov 2026 and 6 Aug 2026
Net income down 38.2% on the previous quarter, guidance raised. Management sounded upbeat, though noticeably less so answering analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
−38.2%
Net income vs Q2 2026
Guidance raised
Net income 296.8M vs 480.0M
Revenue −10.9%
2 · How management spoke
Upbeat
More upbeat than 79% of company calls
Answers to analysts: restrained, but clearly less so than the script.
Last call it was different: script and answers matched.
3 · What stood out
Guidance ↑
Albemarle is increasing its adjusted EBITDA outlook for specialties based on strong year-to-date performance, steady market demand, and continued…
Valuation
Is Albemarle Corporation undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At −11.1% growth a year (3-year revenue growth), the model's fair value is $12.41 a share — the stock trades 674% above it. Today's price assumes 7.4% growth a year.
Current price
$95.97
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+7.4% for 10 yrs
Fair value / share
$12.41
Buy below
$9.30
Price vs fair value
Overvalued >200%
Price vs buy-below price
Overvalued >200%
Read between the lines
-
Guidance
For the fourth quarter, Albemarle expects energy storage net sales and adjusted EBITDA to decrease sequentially, assuming today's lower market pricing persists for the remainder of the quarter...
-
Figure
Albemarle reported third quarter net sales of $1.6 billion and adjusted EBITDA of $646 million.
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q3 2026. Ring: Q2 2026.
Management sounded noticeably less positive answering analysts than in its prepared script — a bigger drop than in 89% of calls. Scripts are polished in advance; a drop under questioning often marks the topics analysts pressed on, so the answers deserve a closer read than the script.
Sentences that drove the tone
“Together, these results demonstrate strong execution of current operations while advancing our high return brownfield growth opportunities.”
“I'm excited for Albemarle's future, leveraging our strong position today and looking forward to our next chapter under RAG's leadership.”
“This growth is underpinned by growing electricity demand as renewables continue to increase in share of global energy production.”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-09-30)
| Metric | Q3 2026period end 2026-09-30 | Q2 2026period end 2026-06-30 | Change | Q3 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 1.55B | 1.74B | −10.9% | 1.31B | +18.8% |
| Gross profit | 300.7M | 590.3M | −49.1% | 117.6M | +155.7% |
| Operating income | 148.2M | 452.9M | −67.3% | -217.0M | Turned profit |
| Net income | 296.8M | 480.0M | −38.2% | -160.7M | Turned profit |
| EPS | 2.15 | 3.52 | −38.9% | -1.72 | Turned profit |
| P/E today 23.9 | 25.5 | 500.1 | −474.6 | 12-mo loss | — |
Topics
Most discussed now
- New You can see through its specialties numbers that Albemarle is largely finding ways to mitigate that through its own ability...
- Global lithium consumption increased 48% year-to-date, led by continued strong demand for energy storage systems and rebounding demand for…
- Year-to-date, Albemarle has generated $1.5 billion of cash from operations and $1.2 billion of free cash flow.
- Albemarle is also reducing expected full-year capital expenditures through focused capital efficiency and the resequencing of some…
- Adjusted EBITDA was $646 million, up 186%, reflecting improved market conditions and continued cost and productivity improvements in both…
Faded since Q2 2026
- Fading The impact of higher spodumene pricing is offset by increased equity income from Albemarle's Talison joint venture versus the prior...
- Fading Albemarle now expects stationary storage battery production of 900 to 1,100 gigawatt hours in 2026, up 11% or 100 gigawatt...
- Fading In oil and gas, clear brine fluid demand has remained stable in the Middle East, while geopolitical uncertainty has incentivized...
- Fading Albemarle wants to have a strong balance sheet and it has been doing that.
Latest announcements
Official filings, newest first.
- Results of operations · SEC 8-K
- Material agreement; Agreement terminated; New financial obligation; Articles or bylaws amended · SEC 8-K
- Director or officer change; Regulation FD disclosure · SEC 8-K
- Director or officer change · SEC 8-K
- Results of operations · SEC 8-K
- Director or officer change; Regulation FD disclosure · SEC 8-K
- Director or officer change · SEC 8-K
- Director or officer change; Shareholder vote results · SEC 8-K