Why Is UAMY Stock Tumbling Nearly 7% Overnight Today?

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(UAMY) stock fell nearly 7% overnight after the company missed third-quarter earnings and revenue estimates and scrapped its 2026 revenue outlook. Stronger antimony sales failed…

United States Antimony Corp. (UAMY) stock fell nearly 7% overnight after the company missed third-quarter earnings and revenue estimates and scrapped its 2026 revenue outlook. Stronger antimony sales failed to offset concerns over falling metal prices and delays in government shipments.

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United States Antimony reported a Q3 loss of $0.06 per share, wider than the consensus estimate of a $0.02 loss, according to Fiscal.ai. Revenue reached $10.1 million, falling short of analysts' expectations of $16.7 million, although it increased 16% year-on-year (YoY.

Despite missing revenue estimates, U.S. Antimony sold more antimony in Q3, with sales rising 68% year-over-year to 468,842 pounds. The increase was driven by deliveries to the Defense Logistics Agency (DLA), which received about 162,000 pounds of antimony ingots, generating $5.1 million in revenue. Industrial sales, excluding government orders, totaled approximately 306,500 pounds.

Gross profit more than doubled to $4.3 million, while the gross margin expanded to 42% from 23%. However, UAMY's net loss widened to $9.5 million.

U.S. Antimony scrapped its earlier full-year 2026 revenue guidance, citing declining antimony prices, delays in government shipment approvals and slower-than-expected production growth at its expanded Thompson Falls smelter.

"We're depending upon DLA approvals at various steps. So ultimately, the timing -- cycle time is not in our control, although both parties are working great to -- very nicely together to increase that," said CFO Shawn Winkler during the earnings call.

"I want to hit on guidance per our press release, we are changing methodologies. Previously, we had guidance of $60 million to $75 million of revenue. We need to move that to volume. Obviously, revenue is impacted by both our speed of deliveries but also overall market prices, which we cannot control."

Instea…

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