Key Highlights

  • Second quarter 2026 net sales were USD 250.1 million, compared with USD 132.8 million in the second quarter of 2025.
  • Module production at the G1 Dallas Facility reached 935 MW in the second quarter.
  • Adjusted EBITDA came in at USD 10.7 million, against USD 0.7 million a year earlier.
  • Unrestricted cash was USD 79.1 million at June 30, 2026.
  • Third quarter results are scheduled for November 12, 2026, with a call at 8:00 am Eastern Time.

Price Action Before the Open (up USD 0.2883, 10.18%)

T1 Energy (NYSE:TE) was up 10.18%, or USD 0.2883, at USD 3.12 in pre-market trading on November 4, 2026, compared with a Tuesday close of about USD 2.83 (calculated). The stock had already climbed roughly 11% during Tuesday's regular session, so the pre-market move extends a two-day bounce.

No company announcement dated November 2 to November 4, 2026 was identified as the cause. On October 27, 2026 the company said it will release third quarter results on Thursday, November 12, 2026, at around 6:00 am Eastern Time, and the approaching report may be keeping attention on the shares. The stock had dropped from near USD 3.49 in early October to about USD 2.10 to USD 2.20 in late October, so part of the move may be a rebound from depressed levels.

Recent Results and Company Updates

In its second quarter 2026 release dated August 12, 2026, the company reported net sales of USD 250.1 million, up from USD 132.8 million a year earlier. Gross Profit was USD 49.1 million, or about 19.6% of sales (calculated), and included a USD 24.4 million reduction in cost of sales from Tariff refunds. Excluding that item, the Margin was roughly 9.9% (calculated).

Net loss from continuing operations was USD 36.9 million, or USD 0.14 per share, while net loss attributable to common stockholders was USD 44.5 million, or USD 0.16 per share. Adjusted EBITDA was USD 10.7 million for the quarter.

T1 Energy is building an integrated United States solar Supply chain and was formerly known as FREYR Battery. Its G1 Dallas plant in Texas produced 935 MW of modules during the quarter, and the company said 2026 output should land at the upper end of its previously disclosed range of 3.1 GW to 4.2 GW, with third and fourth quarter run rates above the second quarter.

Balance Sheet and Risk Factors

At June 30, 2026, unrestricted cash and equivalents stood at USD 79.1 million, and cash plus restricted cash totaled USD 156.4 million. Convertible notes carried at USD 329.0 million, Long Term Debt of USD 116.5 million plus a USD 49.6 million current portion, and related party long term debt of USD 54.9 million. Those lines add up to about USD 550 million (calculated). In July 2026 the company issued USD 120 million of 4.75% convertible senior notes due 2031, which came after the Balance Sheet date.

The company is also funding the G2 Austin cell fab, whose first phase has projected Capital spending of USD 510 million including contingency, with first solar cells expected in the first quarter of 2027.

Because the shares trade below USD 5, they can be highly volatile, Liquidity can thin quickly, and further Equity or convertible financing could dilute existing holders. Risks also include tariff and policy changes and construction timing.

What to Watch Next

The November 12, 2026 report should show third quarter sales, gross margin without tariff refund help, production against the 3.1 GW to 4.2 GW range and the cash position after the July notes. Pre-market trading is thin, so the early gain may not hold at the open.