Iofina PLC (AIM:IOF, OTC:IOFNF) shares rose as much as 12% in morning trading after the iodine producer reported record first-quarter output and lifted its first-half production guidance, citing new capacity and unusually favourable operating conditions.
The company produced 178.9 metric tonnes of crystalline iodine from its eight IOsorb plants in Oklahoma in the first quarter of 2026, up 44% from 124.1 metric tonnes in the same period last year.
Higher-than-usual brine temperatures and capacity added in the second half of 2025 drove the outperformance.
Iofina now expects first-half 2026 production of approximately 385 metric tonnes, comfortably ahead of prior guidance of 325 to 355 metric tonnes.
Spot prices for raw iodine remain above $70 per kilogram, underpinned by strong demand, and the company said it has seen no impact from recent global supply chain disruptions.
Construction of a new, larger IOsorb plant with Western Midstream Partners in the Permian Basin remains on track for the latter part of the third quarter of 2026.
President and chief executive Tom Becker said the record quarter positions the company firmly ahead of its original targets and signals the start of a new phase of more rapid expansion.
After an initial spurt, the stock settled at 31.49p, up 7% on the day. Year-to-date, it is up 17%.