USA Rare Earth publishes Q3 2026 earnings call transcript
USAR•USA Rare Earth reported third-quarter revenue of $3 million and an adjusted net loss of $126 million, with raw material shortages constraining production. Serra Verde expects at least 325 tons of fourth-quarter sales, while production and Stillwater capacity targets extend into 2027.
1. Quarterly results
USA Rare Earth’s third-quarter 2026 earnings call featured CEO Thras Moraitis and CFO Rob Steele. Revenue fell sequentially to $3 million as raw material shortages constrained production, and the adjusted net loss was $126 million.
2. Production targets
Serra Verde expects fourth-quarter sales of at least 325 tons of total rare earth oxides, with quarter-to-date net pricing around $97 per kilogram. Production targets are 4,000 tons annually in the second quarter of 2027 and around 6,400 tons by year-end. Stillwater recorded its first commercial magnet sales in September, and its capacity is expected to double to 1,200 tons annually in the second quarter of 2027.
