Largo Q2 2026 loss widens as higher production costs outweigh 68% revenue jump, company says
LGO•Revenue rises on higher sales volumes
Largo posted Q2 2026 revenue of USD 44 million, up 68%, on higher vanadium and ilmenite sales volumes.
Vanadium sales rose to 2,773 tonnes; production climbed 29% to 2,900 tonnes, supported by better ore availability.
Costs and losses increase despite EBITDA improvement
Net loss widened to USD 22.74 million from USD 5.75 million, driven by higher production costs, corporate fees and finance costs.
Materials and other production costs increased 60% to USD 48.03 million, reflecting higher volumes, cost inflation and weaker USD/BRL translation.
Adjusted EBITDA improved to USD 2.7 million from USD 0.03 million, while operating cash flow turned negative on working-capital outflows.
