| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 7.93 | 17.0% | 24.7% |
| Total Income | 7.93 | 17.0% | 24.7% |
| Expenditure | 14.91 | 4.3% | 41.9% |
| PBT | 0.17 | 101.5% | |
| Net Profit | 0.11 | 101.0% | 38.9% |
| OPM | -88.08% | 88.27pp | |
| NPM | 1.39% | 0.33pp | |
| EPS | — |
United States Antimony Corporation Reports Q2 2026 Results: Revenue of $7.9 Million, Net Income of $0.1 Million
12 Aug 2026 · 12 Aug, 2:39 am
Summary
United States Antimony Corporation reported second quarter 2026 revenues of $7.9 million, down from $10.5 million in the prior year, impacted by lower antimony selling prices. Despite a decrease in gross profit to $0.6 million, the company achieved a net income of $0.1 million, supported by unrealized gains on investments. The Zeolite segment showed strong growth, with revenues up 110% year-over-year. Management highlighted the commencement of DLA shipments and a strategic inventory buildup, while revising full-year revenue guidance to $60-$75 million due to market conditions and delivery timing.
Key Highlights
- 1
Second quarter 2026 revenues were $7.9 million, a decrease from $10.5 million in the second quarter of 2025.
- 2
Gross profit declined to $0.6 million (7% gross margin) in Q2 2026, compared to $2.8 million (27% gross margin) in Q2 2025, primarily due to a significant decline in antimony selling prices.
- 3
Zeolite segment revenue increased by 110% year-over-year to $1.9 million in the second quarter of 2026, with tons sold up 114% to 6,609 tons.
- 4
The company delivered its first two shipments of approximately 82,000 pounds of antimony metal ingots under its contract with the DLA in June 2026, with revenue expected to be recognized in the third quarter.
- 5
Net income for the second quarter of 2026 was $0.1 million, compared to $0.2 million in the prior-year period, with operating loss offset by unrealized gains on investments.
- 6
Working capital doubled to $70.0 million on June 30, 2026, from $35.0 million at March 31, 2026, providing significant operating and capital runway.
- 7
The company updated its fiscal year 2026 revenue guidance to a range of $60 million to $75 million, revised from prior guidance of $125 million, due to lower antimony market prices and a shift in DLA delivery timing.
Management Comments
Gary C. Evans
While our overall operations are continuing to improve markedly each month, those successes are only slowly trickling into our financial performance. While we made our first deliveries to the government during the second quarter, none of that achievement was reflected during this financial reporting period. We currently anticipate the third quarter should see a minimum of $9.0-$10.0 million of additional sales, all to the US Government. With a total of $57.3 Million in antimony ingot orders from the DLA on our books today, we are working tirelessly to fulfill these purchases orders by year-end. Worldwide antimony prices declined during the first six months of 2026 which has obviously affected our revenue projections. However, we took advantage of that opportunity by significantly increasing our existing inventory (up 178% from year-end) while our new smelter was being commissioned. Management’s current outlook reflects expectations for the balance of 2026 regarding increased shipments to both the DLA and our existing industrial customers, the Thompson Falls expansion becoming fully operational on all furnaces during the third quarter of 2026, continued ramp-up of in-house antimony ore processing in both Montana and Mexico, and sustained demand for critical minerals and our zeolite products.
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