The Lynas Rare Earths Ltd (ASX: LYC) share price is in the spotlight after the company reported record quarterly sales revenue of A$288.9 million and closing cash of A$1.2 billion for the June 2026 quarter.
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What did Lynas Rare Earths report?
- Quarterly gross sales revenue of A$288.9 million, up 70% year on year
- Sales receipts reached A$297.1 million
- Closing cash and short term deposits of A$1,209.1 million
- Total Rare Earth Oxide (REO) production: 3,481 tonnes
- Average selling price hit a record A$98.2 per kg
- Cash payments for CAPEX, exploration, and development totalled A$27.8 million
What else do investors need to know?
Lynas delivered its highest quarterly revenue since Q4 FY22, buoyed by increased demand and higher prices for rare earth products, especially NdPr and heavy rare earths. The company ramped up production at its expanded Mt Weld processing plant and addressed bottlenecks at its Kalgoorlie facility.
During the quarter, Lynas launched commercial production of Samarium oxide and progressed its HRE expansion project in Malaysia. The company also announced a long-term supply and investment partnership with JS Link, which includes supporting the construction of a rare earth magnet factory in Malaysia and supplying rare earth materials under an exclusive agreement until 2038.
What did Lynas Rare Earths management say?
Interim Chief Executive Officer Pol Le Roux said:
I am pleased to present my first quarterly report to shareholders since commencing as interim Chief Executive Officer on 1 July 2026. The June quarter 2026 saw the continued focus on the efficient operation of our A$1.5 billion investment in new capacity which was completed as part of the Lynas 2025 growth initiative. This includes the ramp up of the expanded Mt Weld processing plant and addressing bottlenecks at the Kalgoorlie Rare Earths Processing Facility.
What's next for Lynas Rare Earths?
Lynas continues to progress its expanded heavy rare earth processing facility in Malaysia, with production of Gadolinium targeted for early FY28. The company remains committed to its 'Towards 2030' growth strategy by partnering with global magnet makers and diversifying outside China supply chains.
Management expects strong customer demand for new products like Samarium oxide, with first orders anticipated in Q1 FY27. Lynas is also focused on further improving ore recovery and scaling production capacity to support critical manufacturing industries worldwide.
Lynas Rare Earths share price snapshot
Over the past 12 months, Lynas Rare Earths shares have risen 58%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 1% over the same period.
