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USA Rare Earth Reports Third Quarter 2026 Financial Results

USARUSARW
  • USA Rare Earth, Inc. reported Q3 2026 revenues of $3.0 million & a net income of $11.7 million, while maintaining $1.2 billion in cash, cash equivalents, & restricted cash as of September 30, 2026.
  • The company completed its combination with Serra Verde in September 2026, creating one of the few fully integrated rare earth & permanent magnet platforms outside Asia.
  • Serra Verde successfully completed Stage 1 of its optimization program on time & within budget, ramping to 4,000 metric tonnes per annum of total rare earth oxide capacity.
  • Commercial-scale shipments of Mixed Rare Earth Carbonate (MREC) commenced in October 2026, with sales recorded in November 2026.
  • The Stillwater, Oklahoma magnet facility achieved its first commercial sales of sintered NdFeB block magnets to a high-performance materials manufacturer.
  • The Wheat Ridge, Colorado facility produced its first light & heavy rare earth oxide samples in July 2026, followed by the first Yttrium oxide samples in October 2026.
  • Ground was broken in September 2026 on an $1.2 billion advanced rare earth metal & magnet manufacturing facility in Blacksburg, South Carolina, expected to create 490 jobs.
  • Thras Moraitis assumed the role of CEO on October 1, 2026, succeeding retiring CEO Barbara Humpton, and reorganized operations into Upstream, Midstream, & Downstream business units.
  • The U.S. Department of War upsized its investment in the US SIIE, LLC special purpose vehicle to $750 million to support Serra Verde offtake, alongside a $500 million credit facility & $300 million government purchase contract.
  • The company finalized agreements to acquire a 13.6% minority stake in Carester SAS, a French rare earth processing leader, while also closing the acquisition of Texas Mineral Resources Corp. to become the sole operator of the Round Top project.
  • LCM year-to-date volumes in August 2026 exceeded full-year 2025 levels, & the company announced plans to install a second magnet finishing line at Stillwater by the end of 2026.
  • Q4 2026 outlook targets at least 325 tonnes of total rare earth oxide sales from Serra Verde, with average basket values ranging from ~$43/kg at floor prices to ~$97/kg at market prices.
Company
USA Rare Earth, Inc.
Keywords
Nasdaq:USAR, USA Rare Earth, Inc.