Quarterly ResultMay 14, 2026, 11:37 AM
Largo Q1 2026 Net Loss $4.7M; V2O5 Production +101.7%
AI Summary
Largo Inc. reported Q1 2026 financial results, showing a net loss of $4.7 million, a significant improvement from the $9.2 million loss in Q1 2025. V2O5 equivalent production more than doubled to 2,616 tonnes, reflecting strong operating performance at the Maracás Menchen Mine. However, revenues slightly decreased to $27.5 million, primarily due to high U.S. import tariffs on Brazilian products early in the quarter, which were reduced in February. The company expects stronger revenue realization in Q2 2026 due to the tariff reduction and improved vanadium market conditions, and also announced an initiative to produce copper and platinum group metals as by-products.
Key Highlights
- Largo reported a net loss of $4.7 million in Q1 2026, a 48.6% improvement from a $9.2 million loss in Q1 2025.
- Basic loss per share improved to $0.07 in Q1 2026 from $0.14 in Q1 2025.
- V2O5 equivalent production increased 101.7% to 2,616 tonnes in Q1 2026 compared to Q1 2025.
- Revenues decreased 2.5% to $27.5 million in Q1 2026, impacted by high U.S. import tariffs early in the quarter.
- Adjusted cash operating costs excluding royalties were $3.90/lb sold, remaining flat compared to Q1 2025.
- The Company issued 13,811,298 common shares through its ATM Program, generating $19.7 million in net proceeds.
- U.S. tariffs on Brazilian products were reduced from 50% to 10% in February 2026, expected to boost Q2 sales.
- Largo filed a request to produce and sell copper and platinum group metals as by-products at Maracás Menchen Mine.
Price Impact
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