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USA Rare Earth — Q3 2026 Earnings Summary

  • Q3 2026 revenue reached $3.0 million with nine-month revenue at $14.5 million, both marking first-time commercial sales compared to zero in the prior year; net income for Q3 was $11.7 million versus a $156.7 million loss in Q3 2025, though nine-month net loss narrowed to $65.6 million from $247.4 million.
  • The company completed the combination with Serra Verde and the acquisition of Texas Mineral Resources Corp., establishing a fully integrated platform with $1.16 billion in cash and $6.95 billion in total assets as of September 30, 2026.
  • Strategic milestones include the commencement of commercial MREC shipments from Serra Verde, first magnet sales from Stillwater, and the initiation of a $1.2 billion manufacturing facility in Blacksburg, SC, targeting 6,400 tpa capacity by end of 2027.
  • Q4 2026 guidance projects Serra Verde sales of at least 325 tonnes of TREO with market basket values of approximately $97/kg, supported by a $1.55 billion U.S. government-backed SPV and a 15-year take-or-pay offtake agreement.
  • Leadership transitioned from Barbara Humpton to CEO Thras Moraitis on October 1, 2026, as the company reorganized into Upstream, Midstream, and Downstream business units to execute its expansion targets.
Company
USA RARE EARTH INC
Sector
Basic Materials
Industry
Other Industrial Metals & Mining