The IGO Ltd (ASX: IGO) share price is in focus today as the company reported an 18% increase in group sales revenue to $141 million for the fourth quarter of FY26, and underlying EBITDA of $118 million for the period.
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What did IGO Ltd report?
- Group sales revenue up 18% quarter-on-quarter to $141 million
- Group underlying EBITDA of $118 million for 4Q26
- Share of Tianqi Lithium Energy Australia (TLEA) net profit up 38% to $121 million
- Net cash increased by 18% to $387 million at quarter's end
- Nova produced 15,304 tonnes of nickel at cash costs of $4.74/lb in FY26
- Greenbushes spodumene production up 10% to 387kt for the quarter
What else do investors need to know?
IGO delivered strong operational performance at Nova and Greenbushes, with Nova finishing ahead of life-of-mine production guidance and below cost expectations. The company also announced the divestment of Nova to Global Lithium, effective after mining concludes in the December 2026 quarter, as part of efforts to simplify and focus its portfolio.
Kwinana's lithium hydroxide production was affected by a major planned shutdown, resulting in production of 897 tonnes—15% of nameplate capacity—and a higher conversion cost of $40,670 per tonne. Another shutdown is planned for July/August to commission an off-gas treatment system, which will reduce production in the September quarter.
Greenbushes posted an 80% EBITDA margin for the quarter, while production at the CGP3 plant is expected to restart soon after a June fire.
What did IGO Ltd management say?
Ivan Vella, Managing Director and CEO of IGO, said:
IGO finished FY26 with strong operational momentum across key parts of the business, improved Group safety performance and a stronger cash position.
What's next for IGO Ltd?
IGO is targeting a more streamlined copper and lithium portfolio, with portfolio changes such as the Forrestania and Nova divestments reflecting disciplined management. The company remains focused on unlocking value at Cosmos, rationalising exploration tenure, and advancing its proprietary BioHeap sulphide leaching technology.
For FY27, IGO has set guidance for Greenbushes spodumene production at 1,550–1,750 kt, Nova nickel production at 19,000–20,000 tonnes (to December 2026), and Kwinana lithium hydroxide output at 9,000–11,000 tonnes. Exploration and technical development remain priorities to support future growth.
IGO Ltd share price snapshot
The IGO Ltd share price has been a strong performer over the last 12 months, rising 35% thanks to higher lithium prices. This compares to a 1.4% gain by the S&P/ASX 200 index (ASX: XJO).
