UAMY Posts Q2 Revenue of $7.9M and Slashes FY2026 Guidance to $60M–$75M Amid Antimony Price Collapse

summarizeSummary

UAMY reported Q2 2026 revenue of $7.9M and net income of $0.1M, but slashed full-year revenue guidance to $60M–$75M from $125M, citing collapsing antimony prices and delayed DLA contract revenue. The quarter ended with $62.2M in cash and Treasury securities.

check_boxKey Events · Earnings and Guidance · UAMY

• FY2026 Revenue Guidance Slashed

  Full-year revenue guidance was cut to $60M–$75M from $125M, reflecting a 52% decline in antimony selling prices and delayed DLA contract revenue recognition.

• Q2 Revenue of $7.9M, Net Income $0.1M

  Revenue fell 25% year-over-year to $7.9M; net income of $0.1M was salvaged by a $6.8M unrealized gain on the Larvotto investment, which masked a $7.0M operating loss.

• DLA Contract Revenue Deferred to Q3

  The first two DLA shipments—roughly 82,000 pounds valued at about $2.6M—were delivered in June, but revenue recognition is deferred to Q3 2026 pending formal acceptance.

• Strong Liquidity Position

  The quarter ended with $41.4M in cash, $20.7M in Treasury securities, and a $43.2M equity investment in Larvotto; working capital doubled to $70M.

auto_awesomeAnalysis · UAMY · Manufacturing

United States Antimony eked out a slim Q2 net income of $0.1M, but the headline is the steep guidance cut—full-year revenue expectations were slashed from $125M to $60M–$75M, driven by a 52% plunge in antimony selling prices and deferred revenue recognition on the DLA contract. While the company holds a robust cash position of $41.4M plus $20.7M in Treasuries and a fast-growing zeolite business, the core antimony segment faces severe pricing headwinds. The first DLA shipments have been delivered but won't flow into revenue until Q3, and the Thompson Falls expansion is still in ramp-up mode. Investors will zero in on whether the revised guidance is achievable and if antimony prices find a floor.