Israel Corp. profit jumps to $63M on stronger ICL earnings

Israel Corp. (NASDAQ:NOAP) reported a substantial increase in its first-quarter net profit, driven by expanding returns from its core chemicals subsidiary and an investment windfall stemming from a recent food-technology listing.

Net profit attributable to shareholders rose to $63 million for the three months ended March 31, 2026, nearly doubling the $35 million recorded in the first quarter of 2025.

The positive trajectory was underpinned by a stronger performance from its anchor asset, ICL Group, where Israel Corp.’s share of quarterly profit advanced to $56 million compared to $40 million in the prior-year period.

The holding company's bottom line also benefited from an $11 million capital gain booked during the quarter.

This gain resulted from the initial public offering of juice and specialty ingredients producer Prodalim on the Tel Aviv Stock Exchange.

The public listing diluted Israel Corp.’s equity stake in Prodalim to 23.26% from its previous position of approximately 27.5%.

Israel Corp. concluded the quarter with net total assets of $3.245 billion, comprised chiefly of its core holdings in ICL, Prodalim, and aquaculture infrastructure supplier AKVA Group.

Balance sheet liquidity at the corporate level strengthened during the period, with headquarters net cash rising to $100 million as of March 31, up from $73 million at the end of December 2025.

Supported by the cash build-up, the company’s board of directors approved a $13 million dividend distribution, which was disbursed to shareholders on April 27, 2026.