Israel's ICL Group beats quarterly profit estimates, raises 2026 outlook as potash sales surge

Icl

13/05/2026 09:07

JERUSALEM, May 13 (Reuters) - Israeli fertiliser and speciality chemicals firm ICL Group ICL.N reported higher quarterly net profit that beat estimates and it raised its 2026 outlook, helped by an increase in potash and phosphate sales.

ICL ICL.TA, one of the world's largest potash producers, on Wednesday said it earned 11 cents per diluted share in the first quarter excluding one-time items, up from nine cents a year earlier. It was forecast to earn nine cents a share, according to LSEG data.

Sales rose 18% to $2.02 billion.

ICL extracts mainly potash and magnesium from the Dead Sea.

Sales of potash grew 24% to $503 million in the first quarter, with potash prices at $362 per ton - up an annual 21% - and volume higher to China and Brazil.

"We expect to continue to benefit from the current pricing environment, and we will also work to manage raw material costs and other headwinds by swiftly navigating changes in market conditions," said CEO Elad Aharonson.

Formerly called Israel Chemicals, ICL raised its 2026 estimate for adjusted earnings before interest, taxes, depreciation and amortisation to $1.5 billion to $1.7 billion from $1.4 billion to $1.6 billion while maintaining a potash sales volume forecast of 4.5 million to 4.7 million tons.

(Reporting by Steven Scheer; Editing by Hugh Lawson)

((steven.scheer@thomsonreuters.com; +972 2 632 2210; Reuters Messaging: X: @StevenMScheer))