USA Rare Earth releases transcript of Q2 2026 earnings call

USA Rare Earth held its Q2 2026 earnings call with CEO Barbara Humpton, CFO Rob Steele, and investor relations head J.B. Lowe.

• Q2 revenue was about $6 million from LCM metals and alloys.
• Operating expenses were about $45 million.
• Cash was about $1.5 billion.

Management said the Serra Verde acquisition has a shareholder vote set for Aug. 28, with closing expected shortly after. The company said there are no remaining regulatory hurdles.

USA Rare Earth said Serra Verde is targeted to scale to 6,400 metric tons TRIO run-rate capacity by end-2027. Management also flagged heavy rare earth shortages.

For the Stillwater magnet plant, the company said it expects:

• 600 metric tons of run-rate capacity by year-end
• 1,200 metric tons in Q1