PLS posts 52% increase in Q1 revenue on higher lithium pricing
Make us a preferred source
Make us a preferred source on Google
The news: PLS reported a 52% increase in revenue to $567 million for the March quarter, up from $373 million the prior quarter, driven by higher realised lithium pricing.
The numbers: In the three months to March, the miner reported a 12% increase in production to 232.4 kilotonnes (kt), with the average realised price rising 61% to USD1,867 ($2,618) per tonne, up from USD1,161 per tonne in the last quarter.
Unit operating costs fell 11% to $520 per tonne, driven by higher production volumes. Cash margin from operations surged 178% to $461 million, while the cashflow balance saw a 52% increase to $1.4 billion.
The company reiterated its FY26 guidance across all metrics.
The context: The Perth-based lithium miner said its stronger operational performance in the March quarter was driven by strong execution across its operations, underpinned by improved plant reliability, increased run time and high lithium recovery, alongside higher lithium pricing.
PLS added that it does not foresee any material disruption to operations from ongoing geopolitical tensions, noting that diesel only amounts to 4%-5% of its total production costs.
The source: ASX
