Financial Data and Key Metrics Changes - The company achieved $1 billion of specialty-driven EBITDA for the year, with consolidated sales of $7.153 billion, up 5% year-over-year [4][8][9] - Adjusted diluted earnings per share were $0.36 for 2025, with operating cash flow of $1.056 billion [9][32] - In Q4, sales were $1.701 billion, up 6% year-over-year, and consolidated adjusted EBITDA was $380 million, improving 10% year-over-year [7][8] Business Line Data and Key Metrics Changes - Industrial Products, Phosphate Solutions, and Growing Solutions segments had sales of $5.650 billion in 2025, also up 5% [8][9] - For the Industrial Products segment, Q4 sales were $296 million, up 6%, with EBITDA of $68 million [10] - Potash sales for 2025 were $1.714 billion, up 4%, with Q4 sales of $473 million, also up 12% year-over-year [12] - Phosphate Solutions sales for 2025 were $2.333 billion, up 5%, while Q4 sales increased 2% to $518 million [13][14] - Growing Solutions sales for 2025 were $2.063 billion, improving 6% year-over-year, with Q4 sales increasing 6% to $467 million [16] Market Data and Key Metrics Changes - Prices for bromine, potash, and phosphate fertilizers continued to increase in Q4, with potash prices averaging $348 CIF per ton, up more than 20% year-over-year [8][12] - The grain price index declined on a quarterly basis, with rice showing significant reductions, while corn and soybeans improved [24] - The Brazilian market faced affordability issues, impacting farmers and distributors, but there is potential for improvement in 2026 [38][46] Company Strategy and Development Direction - The company is focusing on specialty crop nutrition and specialty food solutions as growth engines, with plans for further acquisitions [5][9] - A definitive agreement with the State of Israel regarding Dead Sea concession assets was signed, securing future compensation [6][95] - The company is discontinuing less synergistic activities, including LFP battery material projects, to redirect resources towards more aligned opportunities [6][18] Management Comments on Operating Environment and Future Outlook - Management noted that while there are pressures from rising raw material costs, particularly sulfur, they are actively working to mitigate these impacts [20][23] - The strengthening of the shekel against the U.S. dollar poses challenges for operations in Israel, but hedging techniques are being employed to manage exposure [21][60] - The company expects consolidated EBITDA for 2026 to be between $1.4 billion and $1.6 billion, with potash sales volume projected between 4.5 million and 4.7 million metric tons [21][22] Other Important Information - The company recorded a $14 million fee for water extracted from wells in the Dead Sea concession area, impacting Q4 results [27] - Adjustments made in Q4 included a $61 million write-off related to the discontinuation of LFP projects and a $50 million impairment for Boulby assets [29][30] Q&A Session Summary Question: What are the upside and downside risks for 2026 guidance? - Management indicated that higher potash production and prices could drive upside, while rising sulfur costs and the strengthening shekel present downside risks [35][36] Question: How is the demand in Brazil for Growing Solutions? - Management acknowledged that Brazil faced a difficult year but expressed optimism for 2026, anticipating improved conditions as interest rates may decrease [42][46] Question: What is the company's position on the LFP battery project? - Management clarified that they are stepping back from LFP projects due to market conditions and will focus on supplying raw materials instead [89][90]

Financial Data and Key Metrics Changes - The company achieved $1 billion of specialty-driven EBITDA for the year, with consolidated sales of $7.153 billion, up 5% year-over-year [4][8][9] - In Q4, sales were $1.701 billion, a 6% increase year-over-year, with consolidated adjusted EBITDA of $380 million, improving 10% year-over-year [7][8] - Adjusted diluted earnings per share for the quarter were $0.09, up 13% compared to the previous year [8] Business Line Data and Key Metrics Changes - Industrial Products segment sales for 2025 were $1.254 billion, with Q4 sales of $296 million, up 6% year-over-year [10][11] - Potash division sales for 2025 were $1.714 billion, with Q4 sales of $473 million, up 12% year-over-year [12] - Phosphate Solutions division sales for 2025 were $2.333 billion, with Q4 sales of $518 million, a 2% increase [13][14] - Growing Solutions sales for 2025 were $2.063 billion, with Q4 sales increasing 6% to $467 million [16] Market Data and Key Metrics Changes - Prices for bromine, potash, and phosphate fertilizers continued to rise in Q4, with potash prices averaging $348 CIF per ton, up more than 20% year-over-year [12][19] - The grain price index showed mixed results, with corn and soybeans improving while rice prices declined [24] - The shekel strengthened against the US dollar, impacting operational costs for the company [20][21] Company Strategy and Development Direction - The company is focusing on two strategic growth engines: Specialty Crop Nutrition and Specialty Food Solutions, with plans for further acquisitions [5][9] - The acquisition of Bartek Ingredients aims to enhance the company's portfolio in specialty food solutions [4][5] - The company is discontinuing less synergistic projects, including LFP battery material projects, to redirect resources towards more aligned opportunities [6][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential in potash and bromine markets, while acknowledging challenges from rising sulfur costs and currency fluctuations [34][35] - The company expects consolidated EBITDA for 2026 to be between $1.4 billion and $1.6 billion, with potash sales volume projected between 4.5 million and 4.7 million metric tons [21][22] Other Important Information - The company recorded a $14 million fee for water extracted from wells in the Dead Sea concession area, impacting Q4 results [27] - The balance sheet remains strong, with available resources of $1.6 billion and a net debt to adjusted EBITDA ratio of 1.3x [31] Q&A Session Summary Question: Guidance for 2026 and potential risks - Management highlighted potential upside from higher potash production and prices, while downside risks include rising sulfur costs and currency exchange challenges [34][35] Question: Demand in Brazil for Growing Solutions - Management noted that Brazil faced a difficult year due to high interest rates and credit availability issues, but expressed optimism for improvement in 2026 [41][44] Question: Sensitivity to the shekel and hedging - The company indicated that every 1% change in the shekel impacts approximately $10 million, with around 50% of exposure currently hedged [56][59] Question: Future of battery projects - Management clarified that the decision to pause LFP battery projects was strategic, focusing on core competencies and avoiding unnecessary risks [86][87]

ICL Group (NYSE:ICL) Q4 2025 Earnings call February 18, 2026 08:30 AM ET Speaker5Good morning, ladies and gentlemen, and welcome to the ICL fourth quarter 2025 earnings international conference call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call require immediate assistance, please press star zero for the operator. I would now like to turn the conference call over to Peggy Reilly Tharp, Vice Presi ...