Strong Volume Growth in Energy Storage and Specialties
The company reported net sales of $1.3 billion, driven by strong volume growth in energy storage and specialties, despite a decline in lithium pricing.
Cost and Productivity Improvement Achievements
Achieved a 100% run rate of the $400 million cost and productivity improvement target, reaching the high end of the initial range. SG&A costs were down more than 20% year-over-year.
Enhanced Financial Flexibility
Redeemed preferred shares for an aggregate value of $307 million and improved leverage ratios, ending the quarter with a net debt to adjusted EBITDA ratio of 2.3x.
Positive Free Cash Flow Expectation
The company now expects to achieve positive free cash flow for the full year 2025, aided by reduced capital expenditure forecasts and strong operating cash flow generation.
Record Production in JV Operations in Jordan
Achieved record production in Jordan, thanks to the NEBO project, which enhances financial and sustainability benefits.