MP Materials Q3 revenue up 25% to $124.4M; EPS $0.33; begins Stage II commissioning

MP Materials Corp. / DE

2022-Q3 EPS reported $1.16 revenue$434,265,000

Net income $63.2M (+48% YoY); diluted EPS $0.33 vs $0.23; adjusted EPS $0.36 vs $0.26.
Adjusted EBITDA $91.4M (+34% YoY); revenue $124.4M, driven by 51% higher realized price of $11,636/REO MT.
REO sales volume 10,676 MT (-17% YoY); production volume 10,886 MT (-9% YoY).
Production cost per REO MT $1,653 (+14% YoY); Stage II concentrate drying/roasting circuits in commissioning.
Stage III magnetics facility building shell completed in seven months; strong operational hiring.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MP Materials Corp. / DE reported three months ended September 30, 2022 results: revenue $124.4M, net income $63.2M, EPS $0.33.

Period: three months ended September 30, 2022
Revenue: $124.4M
Net income: $63.2M
EPS: $0.33
Result: reported results

Exact text from the filing

MP Materials Reports Third Quarter 2022 Results and Begins Stage II Commissioning REO Sales and Production Volumes of 10,676 and 10,886 Metric Tons, Respectively Revenue Up 25% Year-over-Year to $124.4M Net Income Increased 48% Year-over-Year to $63.2M Adjusted EBITDA Increased 34% Year-over-Year to $91.4M Diluted EPS Grew 43% Year-over-Year to $0.33 Adjusted Diluted EPS Grew 38% Year-over-Year to $0.36

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Source: SEC EDGAR

accession 0001801368-22-000034

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