LAC•Lithium Americas reported Q3 net income of $90.1 million, driven by gains on financial instruments and convertible debt after a loss in the year-earlier quarter. It raised its Thacker Pass Phase 1 capex estimate to $3.83 billion and expects fiscal 2026 capex of $1.7 billion to $2.0 billion.
Lithium Americas reported Q3 net income of $90.1 million after a loss in the prior-year quarter. The company said gains on its JV warrant obligation and changes in the fair value of convertible debt drove the result.
The company raised its Phase 1 capex estimate to $3.83 billion, citing higher labor wage rates, logistics challenges and inflation. It expects fiscal 2026 Phase 1 capex of $1.7 billion to $2.0 billion, targets mechanical completion in late 2027 and expects ramp-up through 2028.
