ICL Reports Strong Q4 and Full-Year 2025 Results
(NYSE: ICL) (TASE: ICL), a global leader in specialty minerals, today announced its financial results for the fourth quarter and full year ended December 31, 2025. The company reported solid growth in sales and adjusted profitability, reflecting the strength of its diversified portfolio and strategic initiatives in specialty crop nutrition and specialty food solutions.
Fourth Quarter 2025 Financial Highlights
In the fourth quarter of 2025, ICL delivered consolidated sales of $1,701 million, a 6% increase compared with $1,601 million in Q4 2024. Operating income for the period was ($16) million, compared with $147 million in the prior-year period. Adjusted operating income, which excludes certain one-time items, was $223 million, up 17% from $190 million in Q4 2024.
Adjusted EBITDA for the quarter reached $380 million, a 10% increase compared with $347 million in the same period last year. Diluted earnings per share were ($0.06), compared with $0.06 in the fourth quarter of 2024. Adjusted diluted earnings per share were $0.09, representing a 13% increase versus $0.08 in Q4 2024.
Strategic Adjustments and One-Time Charges
During the fourth quarter, ICL recorded adjustments totaling $239 million, which the company regards as unusual in nature. These adjustments included approximately $122 million related to the execution of ICL’s new strategic initiatives. These measures are designed to reposition the company’s resources toward profitable growth engines, particularly in specialty crop nutrition and specialty food solutions.
Key components of these strategic actions included:
- Discontinuation of ICL’s LFP battery materials projects in St. Louis, USA, and Spain.
- Efficiency improvements at select R&D facilities in Israel.
- Impairment of certain assets in the United Kingdom.
- A provision of $80 million related to prior years following a Supreme Court ruling regarding water extraction fees in the Dead Sea concession area.
These initiatives reflect ICL’s commitment to focusing on high-potential growth segments and redirecting resources toward opportunities aligned with long-term strategy.
Full-Year 2025 Financial Performance
For the full year, ICL achieved consolidated sales of $7,153 million, a 5% increase from $6,841 million in 2024. Annual operating income totaled $580 million, compared with $775 million in the prior year. Adjusted operating income remained steady at $873 million, equal to 2024.
Annual adjusted EBITDA was $1,488 million, a slight increase over $1,469 million in 2024. Diluted earnings per share for the year were $0.18, down from $0.32 in 2024, while adjusted diluted EPS was $0.36, slightly below $0.38 in the prior year. Operating cash flow reached $1,056 million in 2025. During the year, ICL distributed approximately $224 million in dividends to shareholders.
Segment Performance and Growth Drivers
ICL’s performance across its segments was strong in the fourth quarter, with all four segments contributing to sales growth:
- Industrial Products – up 4% in Q4, reflecting strong market demand and operational efficiency.
- Phosphate Solutions – up 4%, driven by specialty food solutions and consistent regional sales.
- Growing Solutions – up 4%, benefiting from specialty crop nutrition products.
- Other Segments – maintained steady sales with targeted initiatives supporting growth.
The company’s global presence and regional diversification allowed ICL to deliver specialty solutions to its customers efficiently, leveraging local production to support global expansion.
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