T1 Energy delivered record quarterly Adjusted EBITDA of $9.1 million and net income from continuing operations of $3.9 million in Q1 2026, driven by stronger-than-expected G1_Dallas output and a shift toward fixed-margin and cost-plus contracts. Net loss attributable to common shareholders was $21.4 million, largely reflecting discontinued operations and depreciation costs, while cash and equivalents totaled $123.7 million at quarter end.

Construction of the 2.1 GW Phase 1 G2_Austin solar cell fabrication facility remains on track, with long-lead items like the steel package ordered and concrete works underway as of April. The full Issued for Construction design package was finalized in early May, and structural steel erection is slated to commence later in the month, supporting a Q4 2026 target for initial cell production.

In April, T1 Energy completed an upsized $160 million convertible senior note offering, generating $174.7 million in net proceeds to advance G2_Austin development. The company is now pursuing a comprehensive financing solution with a significant debt component to secure the remaining $225 million needed for Phase 1 completion.

T1 Energy reaffirmed its 2026 production guidance of 3.1–4.2 GW from G1_Dallas, with expectations to hit the high end based on ongoing vendor qualifications. The company highlighted potential swing factors for Adjusted EBITDA, including H2 merchant demand, outcomes of U.S. Section 232 and IEEPA tariff investigations, while noting indicative customer demand already covers over 100% of 2027-28 G1/G2 capacity.