Lucara Diamond raises 2026 revenue guidance to $140–160 million

what happened

Canada-based Lucara Diamond Corp. reported third-quarter 2026 revenue of $61.1 million, up from $51.2 million a year earlier. The gain came from selling 113,227 carats, including a 1,303 carat Type IIa diamond.

Because of these large stones, the company raised its 2026 revenue guidance to $140–160 million from $100–130 million. Net income fell to $6.6 million from $7.4 million. The full-year operating cost forecast per tonne processed was narrowed to $24–26 from $27.50–31.00.

The Karowe Underground Project is moving from shaft work into lateral development, with full-scale production expected in the first half of 2028. Remaining costs to complete stand at $245.2 million.

why it matters

For markets, this is a company-level update driven by rare large stones rather than broad demand. Management also flagged continued weakness in certain segments of the diamond market, which is relevant for judging the sector outlook.

market impact

Diamond market: one-off large stone sales lifted Lucara's revenue; weak demand in some diamond segments is a drag.

• ▲Lucara Diamond (LUC) pressure up — sales of large diamonds lifted revenue and the 2026 revenue forecast

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