Aug. 11 at 3:07 PM
$LAR Q2 2026 was operationally strong: Cauchari-Olaroz generated
$141M of free cash flow and cut net debt by
$114M, with a 70% cash operating margin and Adjusted EBITDA up sequentially to
$110.3M as realized lithium prices rose 16% QoQ to ~
$19,563/t. RIGI approval for the 45,000 tpa Stage 2 expansion is now confirmed , a modular 10,000 tpa DLE phase is advancing with Ganfeng, and the company closed
$220M of new low-cost debt facilities (sub-5%) strengthening liquidity (
$230M total) and provide flexibility to fund growth without shareholder dilution. Reported EPS (
$0.01) missed consensus was driven almost entirely by a
$38M non-cash deferred tax charge at the project level, not an operating shortfall — the underlying cash generation and deleveraging trend, which is what actually funds Stage 2 and eventually retires the January 2027 convertible notes, remained intact and improving.
