The PLS Group Ltd (ASX: PLS) share price is in focus as the company delivered record annual production and sales, with a 31% jump in June quarter revenue to $743 million and a closing cash balance of $2.29 billion up 57% for the quarter.
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What did Pilbara Minerals report?
- June quarter revenue: $743 million, up 31% from the prior quarter
- FY26 production: 879,500 tonnes of spodumene concentrate, up 17% year over year
- FY26 sales volumes: 891,600 tonnes, up 17% on FY25
- June quarter average realised price: US$2,107/t (up 13%)
- Unit operating cost (FOB): $616/t for June quarter
- Cash at 30 June 2026: $2.29 billion, up 57% for the quarter
What else do investors need to know?
The company exceeded production guidance for FY26, ending the year with record performance despite some cost pressures from higher diesel prices and the restart of the Ngungaju plant. Healthy operational momentum is set to continue as the Ngungaju plant successfully restarted after quarter end, with management targeting steady-state production within the first four months of FY27.
Pilbara Minerals also completed a US$600 million senior notes offering, strengthening the balance sheet and providing extra funding flexibility. Meanwhile, feasibility work on the P2000 expansion and Colina Project in Brazil is progressing as planned, with $175 million approved for early P2000 workstreams.
What's next for Pilbara Minerals?
Looking ahead, management is guiding for FY27 spodumene production of 1,030–1,100kt as the Ngungaju plant ramps up and both plants operate in tandem. Unit operating costs (FOB) are expected to rise slightly, ranging between $575–$625/t, mainly due to mix impacts from the Ngungaju operation.
Investment in growth is set to continue, with capital expenditure forecast at $620–$685 million. Key catalysts for the year include the potential P2000 final investment decision and ongoing studies for future expansions. Dividends are on the agenda, with the board to consider a final dividend when full-year results are released in August.
PLS Group share price snapshot
The PLS Group share price has outperformed the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a gain of over 130%, reflecting investor confidence in its growth outlook and robust lithium demand.
