MP Materials (MP) Tops Q2 EPS by 2c, Revenues Beat

MP Materials (NYSE: MP) reported Q2 EPS of $0.15, $0.02 better than the analyst estimate of $0.13. Revenue for the quarter came in at $73.1 million versus the consensus estimate of $58.3 million.

“MP Materials’ second quarter results demonstrate our strong execution as demand for rare earth materials continues to grow. The MP team produced the highest quarterly REO output in Mountain Pass history, driving revenues to more than double and Adjusted EBITDA to increase nearly six times compared to the second quarter of 2020,” said MP Materials Chairman and CEO, James H. Litinsky.

“As we continue to drive strong performance in our Stage I operations, we are making steady progress on our Stage II Optimization and remain on-track to deliver our first full year of separated NdPr production in 2023.” Litinsky continued, “In addition, our Stage III team is making significant progress on our strategy to repatriate magnet manufacturing in the United States, and we intend to announce the site of our initial facility this year.”

For earnings history and earnings-related data on MP Materials (MP) click here.

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