Income StatementBalance SheetCash FlowSegments
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Albemarle Income Statement

Revenue, expenses, and profitability over time

Albemarle generated $5.5B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was -$232.9M with a -4.24% net margin. Gross margin stands at 18.44% and operating margin at -2.79%. Diluted EPS is $-3.42, which grew 0.7% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$5.5BGross Profit (TTM)$1.0BOperating Income (TTM)-$153.3MNet Income (TTM)-$232.9MEps Diluted (TTM)$-3.42
Latest FilingQ1 2026
Report Date2026-05-06
Market Cap$20.7B
ROE-2.34%

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Stock Dividends Per Share Declared—$0.4$0.4$0.4—$0.4
Reclassification from AOCI—-$140.0K$256.0K$43.0K—-$49.3M
Capital Expenditures$342.8M$182.6M$119.6M$132.2M$155.4M$98.7M
Tax Withholding for Share-Based Payments$999.0K$2.9M$37.0K$229.0K$4.1M$3.9M
Common Stock Dividends Per Share—$0.4$0.4$0.4—$0.4
Comprehensive Income Including Noncontrolling Interest—$158.2M$303.8M-$152.0M—$404.6M
OCI Attributable to Noncontrolling Interest—$7.9M$12.4M$12.7M—$9.9M
Dividends per share declared—$0.4$0.4$0.4—$0.4
OCI - Cash flow hedge, net of tax—-$107.0K-$107.0K-$107.0K—-$107.0K
Other comprehensive income (loss), net of tax—-$107.0K-$107.0K-$107.0K—-$107.0K
Reclassifications Net of Tax$0.0-$340.0K-$18.8M-$202.4M-$455.9M$277.4M
Comprehensive Income Attributable to Parent—$158.2M$303.8M-$152.0M—$404.6M
Change in Operating Capital—$22.0M$74.8M-$143.2M—$144.4M
Finance Lease Interest Paid—$1.6M$1.6M$1.6M—$1.5M
Finance Lease Principal Paid—$1.2M$1.2M$1.3M—$1.2M
Effect of Exchange Rate on Cash (Continuing Operations)-$46.5M$28.1M$75.3M$12.8M—-$2.0M
Net Change in Cash and Restricted Cash—$326.3M$288.3M$124.9M—-$528.2M
Number of Operating Segments—————2.00
Operating Lease Payments—$8.4M$8.7M$9.2M—$9.4M
ROU Asset Obtained - Operating Lease—$9.9M$3.4M$29.7M—$4.6M
OCI Cash Flow Hedge Gain (Loss)—-$107.0K-$107.0K-$107.0K—-$107.0K
Comprehensive Income Including Noncontrolling Interest—$158.2M$303.8M-$152.0M—$404.6M
Unrealized Gains (Losses) on Hedge Instruments—-$107.0K-$107.0K-$107.0K—-$107.0K
Number of reportable segments—————2.00
Other comprehensive income (loss), after-tax—$108.9M$268.7M-$4.1M—$75.7M
Dividends per share declared—$0.4$0.4$0.4—$0.4
Common Stock Dividends Per Share Declared—$0.4$0.4$0.4—$0.4
OCI - Cash Flow Hedges, Net of Tax—-$107.0K-$107.0K-$107.0K—-$107.0K
Comprehensive income (loss), including noncontrolling interest—$158.2M$303.8M-$152.0M—$404.6M
Accruals———$217.0K—$224.0K
Accrual For Environmental Loss Contingencies Foreign Currency Translation Gain Loss———$1.0K—-$69.0K
Accrual for Environmental Loss Contingencies, Payments———$182.0K—$103.0K
Share-based compensation expense related to employee stock plans—$7.5M$10.2M$9.6M—$6.5M
Amortization of capitalized software and acquired intangible assets———$5.8M—$5.2M
Capital investments accrued but not yet paid—$127.4M———$78.2M
Dividends declared (in dollars per share)—$0.4$0.4$0.4—$0.4
Comprehensive Income (Loss), Net of Tax, Attributable to Parent—$150.3M$291.5M-$164.7M—$394.8M
Less: comprehensive income attributable to noncontrolling interest—$7.9M$12.4M$12.7M—$9.9M
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest—$158.2M$303.8M-$152.0M—$404.6M
Deferred taxes—-$5.7M-$33.2M$49.2M—-$1.0M
Deferred Revenue Additions—————$350.0M
Defined Benefit Pension And Other Postretirement (Credits) Costs Included In Corporate And Other—$275.0K$336.0K$367.0K—$1.3M
Contributions to benefit plan—$5.2M$4.7M$5.9M—$3.2M
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)—$1.7M$1.8M$1.9M—$2.9M
Dividends Cash—$47.6M$47.7M$47.7M—$47.7M
Dividends on preferred shares—$41.7M$41.7M$41.7M—$41.7M
Effective tax rates—$0.2-$3.8$0.1—$0.1
Income taxes at U.S. statutory rate of 21%—————$0.2
Distributions of earnings from equity method investees$10.6M$60.3M$7.4M$21.3M$4.7M$0.0
Finance Lease Principal Payments—$1.2M$1.2M$1.3M—$1.2M
Foreign currency translation adjustments and other—————$2.6M
Amount of foreign currency translation increase (decrease)———$343.0K—-$4.0M
Loss on sale of business/equity investment, net—$0.0———-$52.7M
Gain on sale of business and assets$0.0$0.0———-$95.0M
Foreign Currency Translation and Other Adjustments———$1.0M—-$11.3M
Income Before Equity In Net Income Of Unconsolidated Investments$0.0-$15.0M-$43.1M-$208.6M—$232.7M
Income (Loss) Before Equity In Net Income Of Unconsolidated Investments-$462.7M-$177.2M-$177.2M-$177.2M-$177.2M—
Add - Incremental shares under stock-based compensation plans (in shares)—$0.0———$753.0K
Interest and Debt Expense$44.7M$49.0M$49.9M$51.0M$57.8M$33.1M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation—-$120.0M-$90.6M-$90.5M-$533.0M-$1.4B
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$328.5M-$129.1M$312.7M-$153.0M-$176.6M$541.0M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$0.0$547.2M$0.0$355.6M$388.5M$346.2M
Net Income Loss Attributable To Noncontrolling Interest—$8.0M$12.3M$12.8M—$9.9M
Number of operating segments—————$2.0
Number of reportable segments—————$2.0
Operating Lease Payments—$8.4M$8.7M$9.2M—$9.4M
AOCI before reclass, net of taxes—$108.8M$268.9M-$4.1M—$26.3M
Unrealized gains (losses) on hedge instruments—-$107.0K-$107.0K-$107.0K—-$107.0K
Foreign currency translation gains (losses)—$109.0M$268.8M-$4.0M—$75.8M
Other comprehensive income (loss)—$108.9M$268.7M-$4.1M—$75.7M
Tax expense (benefit)—$3.0K-$5.7M-$229.0K—-$29.0K
Other Noncash Income (Expense)$81.8M-$359.0M—-$7.9M-$13.4M-$48.3M
Other income, net (Note 6)$117.0M$10.3M-$6.6M$28.8M—$53.8M
Other Reconciling Items To Adjusted EBITDA—-$12.2M$21.5M$3.8M—$4.2M
Payments for (Proceeds from) Derivative Instrument, Investing Activities$13.6M-$50.2M-$121.0M——$10.5M
Payments For (Proceeds From) Investments In Marketable Securities—-$3.4M—-$4.1M—-$1.8M
Payments of Ordinary Dividends, Common Stock$47.6M$47.6M$47.6M$47.7M$47.6M$47.7M
Payments of Ordinary Dividends, Preferred Stock and Preference Stock$41.7M$41.7M$41.7M$41.7M$41.7M$41.7M
Payment, Tax Withholding, Share-Based Payment Arrangement$999.0K$2.9M$37.0K$229.0K$4.1M$3.9M
Payments to Acquire Other Investments—$60.0K$60.0K$60.0K—$59.0K
Payments to Acquire Property, Plant, and Equipment$342.8M$182.6M$119.6M$132.2M$155.4M$98.7M
Payment for Pension and Other Postretirement Benefits$6.0M$5.2M$4.7M$5.9M$4.6M$3.2M
Potential revision on future environmental remediation costs before tax—————$40.0M
Divestiture of businesses, net of cash transferred—$0.0———$525.2M
Debt issued (Note 13)$28.0M$0.0$19.5M$18.8M$18.4M$18.4M
Financing — other—-$14.0K-$41.0K——-$438.0K
Proceeds From Repayments Of Other Debt—-$1.2M-$1.2M-$1.3M—-$11.2M
Proceeds from disposition of marketable securities and other investments$0.0$0.0———$123.3M
Cash received from option exercises$260.0K$1.2M$0.0$308.0K$1.7M$8.9M
Proportionate Share Of Windfield Holdings Income Tax Expense—$25.3M$33.2M$20.0M—$41.5M
Reclassified net gains (losses) from AOCI into earnings—-$140.0K$256.0K$43.0K—-$49.3M
Repayments of Long-Term Debt$28.0M$9.6M$19.5M$18.8M$457.8M$1.3B
Restructuring charges and asset write-offs$0.0-$1.1M$4.4M$2.3M$2.0M$25.9M
Right Of Use Asset Obtained In Exchange For Operating Lease Liability—$9.9M$3.4M$29.7M—$4.6M
Property, plant, and equipment additions—$182.6M$119.6M$132.2M—$98.7M
Stock-based compensation$7.7M$7.0M$10.1M$11.0M$12.2M$7.9M
Shares Turned In For Tax Withholding Value—$2.9M$37.0K$229.0K—$3.9M
Issuance of common stock in connection with the Spin-Off and reclassification of net parent investment—$0.0$0.0$0.0—$0.0
Stock Issued During Period, Value, Stock Options Exercised—$1.2M—$308.0K—$8.9M
Total Finance Lease Cost—$3.6M$3.6M$3.5M—$3.1M
Transfer from trading securities to investment securities—$0.0———$53.0M
Comprehensive Income (Loss), Total—$158.2M$303.8M-$152.0M—$404.6M
Other Comprehensive Income (Loss), Before Tax—$108.9M$263.0M-$4.3M—$75.6M
Cash Dividends, Common Stock$47.6M$47.6M$47.6M$47.7M$47.6M$47.7M
Comprehensive Income Attributable to Noncontrolling Interests—$7.9M$12.4M$12.7M—$9.9M
Comprehensive Income, Including Noncontrolling Interest—$158.2M$303.8M-$152.0M—$404.6M
Foreign Currency Translation Adjustment, Net of Tax—$109.0M$268.8M-$4.0M—$75.8M
Other Comprehensive Income (Loss)—$150.3M$291.5M-$164.7M—$394.8M
OCI Reclassifications to Net Income—-$140.0K$256.0K$43.0K—-$49.3M
Other Comprehensive Income Tax—$3.0K-$5.7M-$229.0K—-$29.0K
Common Stock Dividends Per Share Declared—$0.4$0.4$0.4—$0.4
Comprehensive Income Including Noncontrolling Interest—$158.2M$303.8M-$152.0M—$404.6M
Other Comprehensive Income (Loss) Before Reclassifications, Net of Tax—$108.8M$268.9M-$4.1M—$26.3M
Total Comprehensive Income—$158.2M$303.8M-$152.0M—$404.6M
Comprehensive Income, Noncontrolling Interest—$7.9M$12.4M$12.7M—$9.9M
Common Stock Dividends Per Share Declared—$0.4$0.4$0.4—$0.4
Other Comprehensive Income (Loss), Tax—$3.0K-$5.7M-$229.0K—-$29.0K
Cash Dividends Paid—$47.6M$47.7M$47.7M—$47.7M
Comprehensive Income—$158.2M$303.8M-$152.0M—$404.6M
Other Comprehensive Loss Before Reclassifications, Net—$108.8M$268.9M-$4.1M—$26.3M

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Stock Dividends Per Share Declared—$0.4$0.4$0.4—$0.4
Common Stock Dividends Per Share (Declared)—$0.4$0.4$0.4—$0.4
Common Stock Dividends Per Share Declared—$0.4$0.4$0.4—$0.4
Basic earnings per share$0.00$0.00$-0.16$-1.72$-3.88$2.35
Diluted earnings per share$0.00$0.00$-0.16$-1.72$-3.88$2.34
Common Stock Dividends Per Share Declared—$0.4$0.4$0.4—$0.4
Dividends Per Share Declared—$0.4$0.4$0.4—$0.4
Common Stock Dividends Per Share Declared—$0.4$0.4$0.4—$0.4
Common Stock Dividends Per Share Declared—$0.4$0.4$0.4—$0.4
Common stock dividends per share declared—$0.4$0.4$0.4—$0.4
Dividends Per Share Declared—$0.4$0.4$0.4—$0.4
Dividends per share declared—$0.4$0.4$0.4—$0.4
Common Stock Dividends Per Share Declared—$0.4$0.4$0.4—$0.4
Dividends per share declared—$0.4$0.4$0.4—$0.4
Dividends per share declared—$0.4$0.4$0.4—$0.4
Dividends per Share Declared—$0.4$0.4$0.4—$0.4
Dividends per share declared—$0.41$0.41$0.41—$0.41
Common Stock Dividends Per Share Declared—$0.4$0.4$0.4—$0.4
Common Stock Dividends Per Share Declared—$0.4$0.4$0.4—$0.4
Common stock dividends per share declared—$0.4$0.4$0.4—$0.4
Common Stock Dividends Per Share Declared—$0.4$0.4$0.4—$0.4
Common Stock Dividends Per Share Declared—$0.4$0.4$0.4—$0.4
Common stock dividends per share declared—$0.4$0.4$0.4—$0.4
Weighted-average shares, basic11K117.6M117.7M117.7M13K117.9M
Weighted-average shares, diluted11K117.6M117.7M117.7M13K118.6M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisition and integration costs—$1.4M$1.8M$1.9M—$1.1M
Restructuring and Asset Impairment Charges—————$25.9M
Stock-Based Compensation Expense$7.7M$7.0M$10.1M$11.0M$12.2M$7.9M
Amortization of Finite-Lived Intangible Assets———$5.8M—$5.2M
Share-Based Compensation Expense$7.7M$7.0M$10.1M$11.0M$12.2M$7.9M
Goodwill Foreign Currency Translation Gain (Loss)———$1.0M—-$11.3M
Amortization expense———$5.8M—$5.2M
Operating Lease Cost—$8.7M$8.6M$9.5M—$9.7M
Short-term Lease Cost—$6.2M$5.8M$6.7M—$5.4M
Compensation and benefits—$7.0M$10.1M$11.0M—$7.9M
Defined Benefit Plan Contributions—$5.2M$4.7M$5.9M—$3.2M
Total Lease Cost—$26.9M$33.4M$31.8M—$31.1M
Depreciation and amortization$163.1M$161.8M$168.7M$164.5M$163.7M$157.8M
Finance Lease ROU Asset Amortization—$2.0M$2.0M$1.9M—$1.6M
Total Lease Cost—$26.9M$33.4M$31.8M—$31.1M
Operating Lease Cost—$8.7M$8.6M$9.5M—$9.7M
Total Lease Cost—$26.9M$33.4M$31.8M—$31.1M
Net periodic benefit cost (credit)—$1.7M$1.8M$1.9M—$2.9M
Pension and postretirement benefit expense—$1.7M$1.8M$1.9M—$2.9M
Defined Benefit Plan Net Periodic Benefit Cost—$1.7M$1.8M$1.9M—$2.9M
Lease Cost—$26.9M$33.4M$31.8M—$31.1M
Operating Lease Cost—$8.7M$8.6M$9.5M—$9.7M
Stock-based compensation expense$7.7M$7.0M$10.1M$11.0M$12.2M$7.9M
Variable Lease Cost—$8.4M$15.3M$12.1M—$13.0M
Finance Lease ROU Asset Amortization—$2.0M$2.0M$1.9M—$1.6M
Impairment and restructuring—-$833.0K$4.3M$2.3M—$25.9M
Occupancy and equipment—$8.7M$8.6M$9.5M—$9.7M
Impairment of assets held for sale$0.0$61.4M$61.4M$61.4M$61.4M—
Research and development$20.0M$14.1M$12.4M$12.7M$12.2M$9.2M
Selling, general and administrative$136.0M$123.5M$132.5M$138.6M$155.5M$137.4M
Share-Based Compensation$7.7M$7.0M$10.1M$11.0M$12.2M$7.9M
Impairment of Disposal Group$0.0$61.4M$61.4M$61.4M$61.4M—
Amortization of Right-of-Use Assets—$2.0M$2.0M$1.9M—$1.6M
Variable Lease Expense—$8.4M$15.3M$12.1M—$13.0M
Environmental Remediation Expense———$217.0K—$224.0K
Variable Lease Cost—$8.4M$15.3M$12.1M—$13.0M
Lease Costs—$26.9M$33.4M$31.8M—$31.1M
Operating Lease Cost—$8.7M$8.6M$9.5M—$9.7M
Variable Lease Cost—$8.4M$15.3M$12.1M—$13.0M
Variable Lease Cost—$8.4M$15.3M$12.1M—$13.0M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Defined Benefit Plan Net Periodic Benefit Cost—$1.7M$1.8M$1.9M—$2.9M
Other Non-Cash Income (Expense)$81.8M-$359.0M—-$7.9M-$13.4M-$48.3M
Unrealized Gain (Loss) on Investments-$3.1M-$5.3M$347.0K$9.9M$9.1M-$5.1M
Unrealized Gain (Loss) on Equity Investments-$3.1M-$5.3M$347.0K$9.9M$9.1M-$5.1M
Unrealized Gain (Loss) on Investments-$3.1M-$5.3M$347.0K$9.9M$9.1M-$5.1M
Other non-cash income (expense)$81.8M-$359.0M—-$7.9M-$13.4M-$48.3M
Equity Securities FV-NI Gain (Loss)—-$5.0M$186.0K$8.0M—-$5.5M
Gain (Loss) on Cenovus Energy Investment—-$5.0M$186.0K$8.0M—-$5.5M
Distributions from Equity Affiliates—$60.3M$7.4M$21.3M—$0.0
Income from equity method investments$19.0M$64.3M$78.3M$60.6M$40.6M$96.3M
Gain on Sale of Business$0.0$0.0———-$95.0M
Gain (loss) on extinguishment of debt$0.0$0.0———$12.6M
Gain (loss) on disposal of assets$0.0$0.0———-$95.0M
Equity Method Investment Dividends$10.6M$60.3M$7.4M$21.3M$4.7M$0.0
Finance Lease Interest Payment—$1.6M$1.6M$1.6M—$1.5M
Impairment of Assets Held for Sale$0.0$61.4M$61.4M$61.4M$61.4M—
Other Charges$117.0M$10.3M-$6.6M$28.8M—$53.8M
Retirement Related Income (Expense)-$9.1M$1.7M$1.8M$1.9M$18.0M$2.9M
Gains (losses) on equity investments—-$5.0M$186.0K$8.0M—-$5.5M
Interest expense$44.7M$49.0M$49.9M$51.0M$57.8M$33.1M
Net investment gains (losses)—-$5.0M$186.0K$8.0M—-$5.5M
Net Change in Cash Flow Hedges—-$107.0K-$107.0K-$107.0K—-$107.0K
Other Non-Cash Income (Expense)$81.8M-$359.0M—-$7.9M-$13.4M-$48.3M
Distributions of earnings from equity method investees$10.6M$60.3M$7.4M$21.3M$4.7M$0.0
Gain on retained interest in Sandisk—-$5.0M$200.0K$7.9M—-$5.5M
Other income (expense), net$117.0M$10.3M-$6.6M$28.8M—$53.8M
Net gains (losses) on equity securities—-$5.0M$186.0K$8.0M—-$5.5M
Other Non-cash Income (Expense)$81.8M-$359.0M—-$7.9M-$13.4M-$48.3M
Net Periodic Benefit Cost (Credit)—$1.7M$1.8M$1.9M—$2.9M
Finance Lease Interest Expense—$1.6M$1.6M$1.6M—$1.5M
Payments of Debt Extinguishment Costs$0.0$0.0———$1.6M
Other Non-Cash Income (Expense)$81.8M-$359.0M—-$7.9M-$13.4M-$48.3M
Interest expense on finance leases—$1.6M$1.6M$1.6M—$1.5M
Premiums paid to extinguish debt—$0.0———$1.6M
Unrealized Gain (Loss) on Equity Securities—-$5.0M$200.0K$7.9M—-$5.5M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effective Tax Rate Statutory Reconciliation—————$0.2
Effective Tax Rate (Continuing Operations)—$0.2-$3.8$0.1—$0.1
Effective Tax Rate—$0.2-$3.8$0.1—$0.1
Effective Tax Rate, Continuing Operations—$0.2-$3.8$0.1—$0.1
Income Tax at U.S. Statutory Rate—————21.0%
Effective Income Tax Rate, Continuing Operations—$0.2-$3.8$0.1—$0.1
Tax Reconciliation, Federal Statutory Amount—————$0.2
Effective Tax Rate—$0.2-$3.8$0.1—$0.1
Effective Tax Rate (Continuing Operations)—$0.2-$3.8$0.1—$0.1
Income tax expense$10.6M-$4.0M$34.1M-$30.6M$157.3M$21.5M
Effective Tax Rate (Continuing Operations)—$0.2-$3.8$0.1—$0.1
Tax Reconciliation at Federal Statutory Rate—————$0.2
Tax Reconciliation - Federal Statutory Rate—————$0.2
Deferred Income Tax Expense (Benefit)—-$5.7M-$33.2M$49.2M—-$1.0M
Effective Tax Rate (Continuing Operations)—$0.2-$3.8$0.1—$0.1
Effective Income Tax Rate—$0.2-$3.8$0.1—$0.1
Statutory Federal Income Tax Rate—————$0.2
Effective Tax Rate, Continuing Operations—$0.2-$3.8$0.1—$0.1
Effective Tax Rate Continuing Operations—$0.2-$3.8$0.1—$0.1
Tax Reconciliation Federal Statutory Rate—————$0.2

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Revenue Recognized from Contract Liability—$0.0———$21.9M
Gift Card Revenue Recognized—$0.0———$21.9M
Revenue Recognized from Contract Liability—$0.0———$21.9M
Total revenue$1.2B$1.1B$1.3B$1.3B$1.4B$1.4B

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income applicable to common shareholders$0.0-$340.0K-$18.8M-$202.4M-$455.9M$277.4M
Common Dividends Declared (Per Share)—$0.4$0.4$0.4—$0.4
Net Income Allocated to Common (Diluted)—-$340.0K-$18.8M-$202.4M-$455.9M$277.4M
Comprehensive income (loss), including noncontrolling interest—$158.2M$303.8M-$152.0M—$404.6M
Common Stock Dividends$47.6M$47.6M$47.6M$47.7M$47.6M$47.7M
Cash Dividends, Common Stock—$47.6M$47.6M$47.7M—$47.7M
Net earnings to common$0.0-$340.0K-$18.8M-$202.4M-$455.9M$277.4M
Net Income Available to Common Stockholders (Diluted)—-$340.0K-$18.8M-$202.4M-$455.9M$277.4M
Net income attributable to noncontrolling interests—$8.0M$12.3M$12.8M—$9.9M
Net Income Available to Common Shareholders$0.0-$340.0K-$18.8M-$202.4M-$455.9M$277.4M
Net income$0.0$41.3M$22.9M-$160.7M-$414.2M$319.1M
Preferred stock dividends$41.7M$41.7M$41.7M$41.7M$41.7M$41.7M
Net income attributable to common stock$0.0-$340.0K-$18.8M-$202.4M-$455.9M$277.4M
Common Stock Dividends$47.6M$47.6M$47.6M$47.7M$47.6M$47.7M
Distributions to Noncontrolling Interest Holders—$18.2M———$37.5M
Noncontrolling Interest Redemptions—————$5.0K

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$138.2M$156.3M$196.9M$117.6M$197.9M$501.0M
Operating income$0.0$19.8M$47.5M-$217.0M-$217.4M$233.5M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$0.0-$19.0M-$9.0M-$239.1M-$285.0M$254.2M

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$1.1B$920.6M$1.1B$1.2B$1.2B$927.8M