EarningsQ4 2026 Earnings Report
MX:LYCN Q4 2026 EPS Results
Actual EPS$1.23
Consensus EPS$1.20
Beat/MissBeat by +$0.03
One Year Ago EPS$0.01
MX:LYCN Q4 2026 Revenue Results
Actual Revenue$7.15B
Expected Revenue$4.19B
Beat/MissBeat by +$2.96B
YoY Revenue Growth+86.72%
Earnings Announcement Details
QuarterQ4 2026
Date08/26/2026
TimeBefore Open
Conference CallWednesday, August 26, 2026
MX:LYCN Upcoming Earnings
Lynas Rare Earths 's next earnings date is estimated for February 19, 2027, based on past reporting schedules.
Q4 2026 Earnings Call Audio
MX:LYCN Q4 2026 Earnings Call
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Q4 2026 Earnings Slide Deck
Q4 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominately positive operational and strategic update: safety metrics improved significantly, key sites (Mt Weld, Kalgoorlie, Kuantan) have delivered important fixes and capacity demonstrations, downstream partnerships and heavy rare earth separation progress materially advanced Lynas' position outside China, and the company retains strong cash resources. Notable headwinds include ore quality-driven production impacts in FY26, sharply higher sulfuric acid costs (~4x), temporary G&A/underabsorbed costs, regulatory throughput limits in Malaysia, and several growth projects still at R&D or negotiation stage rather than capital deployment. On balance, the highlights (operational recoveries, partnerships, product deliveries, cash strength and market tailwinds) outweigh the lowlights, which are either being actively managed or are timing/R&D issues.Company Guidance
Safety Improvement
Lost Time Injury (LTI) reduced to 0.9 in FY26, a 50% improvement versus FY25; TRIFR increased but management has active programs to reduce strains and sprains.
Mt Weld Expansion and Ramp-up
Mt Weld expansion facility is nearing completion with only TSF4 finalisation remaining; management reports the operation is now reliable and ready to support growth.
Kalgoorlie Quality Fixes and Independence from China
Product quality issues at Kalgoorlie were resolved within a week via a precipitation process change; spares and product inputs previously sourced from China are now secured and the site is '100% non-China dependent,' improving operational resilience.
Kuantan (LAMP) Operational Performance
Kuantan delivered its best-ever cracking/leaching performance; solvent extraction (SX) reached new nameplate capacity, process modifications improved productivity and energy efficiency, and new products began commercial delivery.
Downstream Partnerships and Investment
Signed a 12-year offtake/partnership with JARE; invested US$50 million into JS Link to support downstream magnet making in Malaysia; additional partnerships include LS Cable (metal making) and an MOU with Noveon (U.S.), advancing downstream capacity outside China.
Heavy Rare Earths Separation and Product Deliveries On Track
Heavy rare earths separation programme delivering as planned: Dy/Tb delivered in FY25, samarium delivered ahead of schedule (March 2026), and gadolinium/yttrium targeted for H1 FY28 with further samarium production increases targeted in early CY2028.
Financial Strength and Capital Discipline
Management notes a 'wonderful improvement' in results driven by price premiums above market and modest volume increases; disciplined CapEx spend aligned to expansions (Mt Weld, Kalgoorlie, Kuantan); company holds approximately US$1.2 billion cash and raised >US$900 million equity in the prior year.
Market Demand Tailwinds
End-market demand driven by energy-efficient motors is growing at ~10% p.a.; Lynas benefits from favourable price levels and is positioned as a leading Dy/Tb supplier outside China, addressing a global Dy/Tb supply shortage.
Throughput Demonstrations and Upside
Operational demonstrations show meaningful upside: SX/NFP in Kuantan has run up to ~30–33 tonnes per day in short runs, cracking/leaching reached ~31 tpd at times, and second-half FY26 average was ~21 tpd with FY27 expected to be meaningfully higher.
Recycling and Downstream Service Potential
Management is progressing swarf recycling capabilities to serve magnet makers (recycling ~30% swarf loss in magnet-making), expected to be a near-term, marginal investment to integrate into existing facilities and support competitiveness of downstream customers.
MX:LYCN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed