Largo Q1 revenue falls 2.5% as tariffs weigh

Largo

14/05/2026 15:18

Overview

Canada vanadium producer's Q1 revenue fell 2.5% yr/yr as U.S. tariffs weighed

Net loss for Q1 narrowed to $4.7 mln from $9.2 mln a year earlier

Company expects Q2 revenue to benefit from tariff relief and higher vanadium prices

Outlook

Largo expects stronger revenue realization in Q2 2026 due to tariff relief and inventory sales

Result Drivers

PRODUCTION GAINS - Higher vanadium output was driven by improved mine access, stronger ore availability, and greater plant stability, per co-CEO Daniel Tellechea

TARIFF IMPACT - Q1 sales and revenue were constrained by high U.S. tariffs on Brazilian imports in the early part of the quarter, according to co-CEO Alberto Arias

PRICE LAG - Higher vanadium and ferrovanadium prices in the U.S. were not fully reflected in Q1 revenue due to timing of sales contracts, with benefits expected in Q2

Company press release: ID:nNFC1zbFdQ

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$27.53 mln
Q1 Net Income
-$4.73 mln
Q1 Basic EPS
-$0.07


Analyst Coverage

The one available analyst rating on the shares is "buy"

Wall Street's median 12-month price target for Largo Inc is C$2.80, about 81.8% above its May 13 closing price of C$1.54

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)