T1 Energy posts Q2 2026 loss, raises G2_Austin cost estimate

T1 Energy Inc. (NYSE: TE) released preliminary financial results for the second quarter of 2026, reporting an expected net loss from continuing operations of $34 million to $37 million on total sales of approximately $245 million to $255 million, with module sales volumes of approximately 835 MW.

Adjusted EBITDA for the quarter is expected to range from negative $14.5 million to negative $11.5 million, excluding approximately $24.4 million in tariff refunds under the International Emergency Economic Powers Act.

As of June 30, 2026, the company held $156.4 million in cash, cash equivalents, and restricted cash, of which $79.1 million was unrestricted.

T1 Energy raised its capital expenditure estimate for Phase 1 of its G2_Austin solar cell fabrication facility to $510 million from a prior estimate of $425 million, citing labor and materials cost pressures tied to tightness in the Texas data center construction market. The company also pushed back its timeline for first solar cell production at that facility to the first quarter of 2027, from a prior target of before year-end 2026.

The company separately announced it acquired solar patents and intellectual property from Evervolt Green Energy Holding Pte Ltd. for $135 million. T1 also closed its previously announced acquisition of KORE Power, Inc. in July 2026, establishing a new brand called T1 NRI to serve battery energy storage and data center infrastructure markets.

During the quarter, T1 monetized its remaining 2025 Section 45X tax credits for $39.1 million at $0.93 on the dollar. The company said it has begun early-stage negotiations with potential counterparties for sales of 2026 Section 45X credits.

T1 said it expects production in the second half of 2026 to exceed Q2 levels and projects full-year 2026 output will fall within the higher end of its previously disclosed range of 3.1 to 4.2 GW. These results are preliminary and unaudited, and the company cautioned that final figures may differ materially.

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