The PLS Group (ASX: PLS), formerly Pilbara Minerals, share price is in focus after the company reported a 52% jump in quarterly revenue to $567 million, underpinned by stronger lithium prices and disciplined execution. Cash balance surged 52% to $1.45 billion at 31 March 2026.
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What did PLS Group report?
- Group revenue rose 52% to $567 million versus the prior quarter
- Average realised spodumene price increased 61% to US$1,867/t (SC5.2 equivalent)
- Production lifted 12% to 232,400 tonnes; sales were 195,700 tonnes
- Unit FOB operating cost fell 11% to $520/t
- Cash balance grew to $1.45 billion, up 52% from December
- Cash margin from operations came in at $461 million
What else do investors need to know?
PLS Group remains well funded, supported by the recent US$600 million US bond issue completed after the quarter's end. The proceeds are providing longer-term flexibility and have helped increase total available liquidity to $2.44 billion on a pro forma basis.
The company's Ngungaju plant restart is on track for July 2026, and feasibility studies for the Pilgangoora P2000 expansion and Colina project in Brazil continue to progress as planned. No material supply chain disruptions are expected, with operations stable and cost controls in place.
What's next for PLS Group?
PLS Group is focused on advancing its growth pipeline, targeting higher production capacity at Pilgangoora and progressing the Colina project in Brazil. The business is also expanding downstream exposure, including chemical processing and mid-stream partnerships.
Looking forward, management sees accelerating global demand for battery materials and is positioning the business to capture value right along the lithium supply chain.
PLS Group share price snapshot
Over the past 12 months, PLS Group shares have risen 281%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 10% over the same period.
