Lynas Rare Earths posts $222.4M profit in FY26
- Lynas Rare Earths reported a net profit of $222.4 million for FY26.
- Revenue nearly doubled to $977.9 million following improved selling prices.
- Growth was driven by higher rare earth prices and strategic supply agreements.
Lynas Rare Earths (ASX:LYC) reported net profit after tax of $222.4 million for the financial year ended June 30.
The result marks a significant increase from the $8 million net profit recorded in FY25, alongside revenue rising to $977.9 million from $556.5 million.
"Rare earth market prices strengthened during the year, and Lynas secured floor price agreements to supply both Japanese and U.S. industries," said Lynas Rare Earths interim CEO Pol Le Roux.
The company achieved a record average annual selling price of $80.70 per kilogram across its rare earth products, while cost of sales grew from $426.7 million to $585.5 million.
Lynas stated that its Malaysian operating licence was renewed for 10 years in March 2026, and its closing cash balance reached $1.21 billion.
Following the announcement, the Lynas Rare Earths share price was down at $16.03.
The producer operates the Mt Weld rare-earth mine in Western Australia alongside downstream materials processing infrastructure.
