Iluka Resources Limited (AU:ILU)
ASX:ILU
Earnings Data
Report Date
Aug 25, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.17Last Year’s EPS
0.21Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed measurable operational and financial progress: Balranald is ramping on schedule, Eneabba shows strong engineering and committed spend with commissioning in mid‑2027, a significant near‑term reduction in cash deployment was announced, liquidity/hedging positions are solid, and inventory/contracted sales provide flexibility. Key risks include market timing for zircon/TiO2 recovery, lack of signed rare‑earth offtakes (funding dependency), elevated finished goods inventory that must be drawn down, and the usual execution/commissioning risks for a major refinery project. Overall, the positives (project progress, reduced cash deployment, liquidity and hedging, inventory cushion) outweigh the outstanding risks, but successful execution and offtake finalization remain important near‑term value drivers.Company Guidance
Project progress — Eneabba refinery
Eneabba construction >95% engineering complete, ~60% of CapEx spent or committed, peak construction expected in H2 2026/early 2027, commissioning targeted mid‑2027 and full ramp to commercial rates expected over ~2 years from commissioning. Capital range reiterated at ~$1.7–$1.8 billion with a remaining contingency of $235 million.
Balranald ramp-up on track
Mining commenced in January with one rig operating and second rig starting in February; ramp-up through H1 with investment-case production targeted by mid‑2026 and first finished mineral sands products from Balranald expected in H2 2026. Extraction rates have, at times, reached investment-case levels.
Strong liquidity and hedging position
Mineral Sands net debt reduced to ~$420 million (end of January). Undrawn facilities available (~$250 million). USD hedges of USD 200 million in place for 2026 using collars (AUD/USD floor ~$0.63, ceiling ~$0.685) to reduce FX volatility on contracted sales.
Inventory and contracted sales provide flexibility
Iluka reports a $1.1 billion inventory position and finished goods of ~379,000 tonnes (up from ~320,000 tonnes mid‑year, ~+18%); Q1 contracted sales: 41,000 tonnes sand and 11,000 tonnes zircon in concentrate; guidance for 2026 sales includes ~110,000 tonnes, enabling inventory drawdown to support cash generation.
Material reduction in near-term cash deployment
Use of funds for 2026 is over ~$600 million lower than the prior year due to cost reduction measures (including idling Cataby and SR2 and completion of Balranald capital) — signaling materially lower cash spend in 2026 versus 2025.
Tax and working capital tailwinds
Current tax asset / expected tax refund of ~AUD 52 million due in H1 2026 (resulting from inventory write-down accounting). Receivables (~AUD 300 million) expected to unwind over 1–2 months and payables (~AUD 270 million) include elevated capital accruals that will reduce as projects complete.
Strategic & market positioning for rare earths
Eneabba will be one of the few rare earth refineries outside China producing light and heavy separated oxides; recent government actions (US/Australia) and US price-support commentary are tailwinds. Offtake discussions progressing with expectation of some contracts in 2026.
AU:ILU Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
AU:ILU Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 17, 2026 | AU$5.28 | AU$5.54 | +5.10% |
Aug 19, 2025 | AU$6.54 | AU$6.08 | -6.97% |
Feb 18, 2025 | AU$4.60 | AU$4.48 | -2.57% |
Aug 20, 2024 | AU$5.55 | AU$5.68 | +2.47% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Iluka Resources Limited (AU:ILU) report earnings?
Iluka Resources Limited (AU:ILU) is schdueled to report earning on Aug 25, 2026, After Close (Confirmed).
What is Iluka Resources Limited (AU:ILU) earnings time?
Iluka Resources Limited (AU:ILU) earnings time is at Aug 25, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is the P/E ratio of Iluka Resources Limited stock?
The P/E ratio of Iluka Resources Limited is N/A.
What is AU:ILU EPS forecast?
AU:ILU EPS forecast for the fiscal quarter 2026 (Q2) is -0.17.