T1 Energy Inc. (NYSE:TE) shares are trading lower on Wednesday after the company reported mixed second-quarter results.
The company reported a loss per share of 14 cents, wider than the analysts’ estimate of 11 cents, while revenue of $250.1 million exceeded the consensus of $203.2 million.
T1 Energy reported G1_Dallas module production of 935 MW, a $36.9 million net loss from continuing operations and $10.7 million in Adjusted EBITDA. The quarterly results benefited from a $24.4 million pre-tax tariff refund.
As of June 30, T1 had $156.4 million in cash, cash equivalents and restricted cash, including $79.1 million of unrestricted cash.
Key Updates
T1 signed a 641-MW solar module supply agreement with Clearway using domestic cells from its G2_Austin facility and acquired TOPCon-related solar patents from Evervolt for $135 million.
Construction of the 2.1-GW G2_Austin Phase 1 remains on track, with $510 million in planned capital spending and first cell production targeted for the first quarter of 2027. T1 also supports new Section 232 tariffs on imported polysilicon and plans to pursue related U.S. onshoring incentives.
In August 2026, the company secured a deal to supply Clearway Energy Group with 641 MW of solar modules using domestically produced cells from its G2_Austin facility, supporting its strategy of delivering a traceable U.S.-based solar supply chain.
T1 monetized its remaining 2025 Section 45X tax credits for $39.1 million at $0.93 per dollar and has begun discussions to sell 2026 credits.
It expects G1_Dallas production to accelerate in the third and fourth quarters, with 2026 output targeted toward the high end of its 3.1-GW to 4.2-GW range.
The company continues to pursue a comprehensive financing package, including significant debt, to fund the remaining G2_Austin Phase 1 capital requirements.
TE Stock Price Activity: T1 Energy shares were down 0.37% at $5.45 on Wednesday, according to Benzinga Pro data.
Photo via Shutterstock
Login to comment