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Lithium Americas Reports Third Quarter 2026 Results

LAC
  • Lithium Americas Corp. filed its Q3 2026 Form 10-Q, reporting unaudited financial statements for the three & nine months ended September 30, 2026.
  • The Company announced a definitive capital cost estimate of $3.83 billion for Thacker Pass Phase 1, an increase from the prior $2.93 billion estimate due to tariffs, labor inflation, & extended installation rates.
  • Thacker Pass construction targets mechanical completion in late 2027 with ramp-up continuing through 2028, including a 156,000-pound Final Absorbing Tower moved into place at the Sulfuric Acid Plant.
  • As of September 30, 2026, the Company held approximately $1.3 billion in total cash & restricted cash, including $359.5 million at the Thacker Pass joint venture level.
  • The Company received a fourth $239.0 million advance on the U.S. Department of Energy loan in August 2026, bringing cumulative advances to $1.448 billion.
  • On August 13, 2026, the Company issued $150 million in subordinated convertible debentures to Yorkville Advisors, with an option to issue an additional $25 million later.
  • Yorkville converted $40.5 million of principal & accrued interest during Q3 2026, resulting in the issuance of 14.3 million common shares.
  • The Company contributed $120 million to the DOE Loan reserve account on October 7, 2026, & $650 million toward incremental funding requirements, which will increase the Company's ownership percentage in the joint venture.
  • Construction safety metrics show 4.7 million workhours completed without a serious injury or lost-time incident as of November 11, 2026.
  • Approximately 1,900 personnel are currently on site, including over 1,600 craft workers, with numbers expected to rise to 2,200 by year-end 2026.
  • Engineering is complete & procurement is over 90% finished, with major structural steel delivered & 80% of fabricated piping material either in transit or on site.
  • The Transload Terminal west of Winnemucca is progressing with rail stabilization at 95% completion, targeting full completion in 2027.
  • Net income for the nine months ended September 30, 2026, was $96.4 million, compared to a net loss of $223.9 million in the prior year period, driven largely by gains on financial instruments.
  • Capital expenditures for the nine months ended September 30, 2026, totaled $1.46 billion, with full-year 2026 guidance estimated between $1.7 billion & $2.0 billion.
  • Total assets increased to $3.95 billion as of September 30, 2026, driven by a $1.23 billion increase in mineral properties, plant & equipment.
  • The Company has 377,334,749 shares issued & outstanding as of November 11, 2026.