ICL Targets $350 Million in Annual Savings via ELEVATE Program and Reports Strong Q3 Results
During its third-quarter 2026 earnings call, ICL reported strong performance driven by rising bromine prices and a significant nearly 50% increase in Industrial Products EBITDA. The company is actively managing margin pressures through its 'ELEVATE' cost transformation program, which aims to deliver $350 million in annual savings by the end of 2028. Management noted that raw material headwinds are beginning to ease, highlighted by a 12% decline in average sulfur purchasing prices in October compared to Q3 levels. Looking forward, ICL is targeting the upper end of its full-year EBITDA guidance of $1.5 billion to $1.7 billion and plans to implement a new organizational structure in 2027 to better focus on growth engines across food, industrial, and agricultural markets.
Tickers: $ICL
Topics: cost reduction program earnings report profit guidance raw material costs